Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    711 Nereid Ave Bronx, NY 10466-1201

    • Office buildings
    • 3,962 SF
    • 0.24 lot acres
    OFF-MARKET
    Last Sale
    Aug 08, 2023
    $2,150,000
    Value Estimations
    $1,970,000
    Show details
    Cap Rate Potential
    5.6%
    Office buildings
    Location Intelligence
    Property ID
    US63-1723302
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Lauren Blum, PNP / Medical Clinic / Pediatrician
    • Dr. Thomas Chan, DO / Pediatrician / Medical Clinic
    • Alpina Healthcare: Urgent and Primary Care / Medical Clinic
    • AlpinaHeathCare / Medical Clinic
    • Barbara Griffith / Pediatrician / Physician

    Property Details for 711 Nereid Ave

    Year built
    1999
    Lot size
    0.24 lot acres
    Property size
    3,962 SF
    Zone code
    R5
    Property type
    Office buildings
    APN
    05070-0049
    APU
    50700049

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,900,000
      ML approach
      $2,105,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,765,000
      6.5%
      $1,630,000
      7%
      $1,510,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,879,000
      Market price range: $1.07M - $2.27M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,445,000
      Current use
      AUTO REPAIR, GARAGE
      $2,885,000
      Change: +100% Conversion: Difficult
      RETAIL STORES
      $2,350,000
      Change: +63% Conversion: Moderate
      WAREHOUSE, STORAGE
      $1,535,000
      Change: +6% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.8535
    Latitude
    40.8985
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $35,024
    $71,550
    $259,110
    $330,660
    -
    $159,000
    $607,000
    $766,000

    Comparable in this City

    • Value Estimation
      $520,000
      1,900 SF

      4133 White Plns Rd

      PROFESSIONAL BUILDING • 1,900 SF
      4133 White Plns Rd, Bronx, NY 10466-3009
      View Details
    • Value Estimation
      $1,655,000
      7,436 SF

      814 233rd St, Unit 824

      OFFICE BUILDING (MULTI-STORY) • 7,436 SF
      814 233rd St, Bronx, NY 10466-3204
      View Details
    • Value Estimation
      $975,000
      3,820 SF

      1441 233rd St

      OFFICE BUILDING (MULTI-STORY) • 3,820 SF
      1441 233rd St, Bronx, NY 10466-3339
      View Details
    • Value Estimation
      $755,000
      2,304 SF

      959-961 233rd St

      OFFICE BUILDING (MULTI-STORY) • 2,304 SF
      959-961 233rd St, Bronx, NY 10466
      View Details
    • Value Estimation
      $2,020,000
      8,872 SF

      3619 Provost Ave

      OFFICE BUILDING (MULTI-STORY) • 8,872 SF
      3619 Provost Ave, Bronx, NY 10466-6120
      View Details
    • Value Estimation
      $1,960,000
      7,446 SF

      4021 White Plns Rd

      PROFESSIONAL BUILDING • 7,446 SF
      4021 White Plns Rd, Bronx, NY 10466-3003
      View Details

    Similar Nearby for Sale

    • $1,100,000
      Pending

      Bronx Detached Two-Family Home

      Two-family home with finished basement and ample parking in Bronx.
      607 East 226Th St, Bronx, NY 10466
      View Details
    • $1,150,000
      3,600 SF

      Renovated Three-Family in Prime Location

      Turnkey, fully vacant, renovated three-family near transportation and medical center.
      647 E 229Th St, Bronx, NY 10466
      View Details
    • $839,900

      Two-Family Brick Home in Wakefield

      Spacious two-family home with finished walk-in and great potential.
      1710 Nereid Ave, Bronx, NY 10466
      View Details
    • $1,299,000
      Pending

      Bronx Three-Family Brick Home

      Three-unit property with high rental return potential in Bronx.
      3941 Laconia Ave, Bronx, NY 10466
      View Details
    • New
      $949,000
      0.07 Acres

      Renovated Two-Family Home with Parking

      Meticulously renovated two-family home with private parking in Wakefield, Bronx.
      741 E 227Th St, Bronx, NY 10466
      View Details
    • New
      $730,000
      0.07 Acres

      Colonial Two-Family Home, Bronx

      Two-family Colonial in the Bronx with six bedrooms.
      738 E 229Th St, Bronx, NY 10466
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,060 SF

      Medical/Office Suite Near Montefiore

      Spacious medical/office suite near Montefiore Medical Center.
      623 E 233Rd St, Bronx, NY 10466
      View Details
    • Contact for pricing
      1,400 SF

      Retail/Medical Space Near Montefiore Hospital

      Retail or professional space near Montefiore hospital.
      651-655 E 233Rd St, Bronx, NY 10466
      View Details
    • $4,500 /Mo
      1,520 SF

      Finished Office Space in Bronx

      Elegantly finished office space suitable for medical or legal practices.
      4133 White Plains Rd, Bronx, NY 10466
      View Details
    • Contact for pricing
      4,050 SF

      Bronx Warehouse Space Available

      4,050 SF warehouse space for rent in Bronx.
      4336 Bronx Blvd, Bronx, NY 10466
      View Details
    • Contact for pricing
      19,500 SF

      Corner Development Opportunity in Bronx

      19,500 sq ft vacant parcel for development or rezoning.
      3641 Boston Rd, Bronx, NY 10466
      View Details
    • Contact for pricing
      3,000 SF

      Boston Road Warehouse Opportunity

      Prime industrial space, 3,000 SF building, 19,000 SF land.
      3981 Boston Rd, The Bronx, NY 10466
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    711 Nereid Ave
    Bronx, NY 10466-1201
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!