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    870 Southern Blvd Bronx, NY 10459-4523

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    870 Southern Blvd Bronx, NY 10459-4523

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    • Apartment buildings
    • 113,896 SF
    • 0.81 lot acres
    Off-Market
    Property ID
    US63-1322530
    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.
    Value Estimations
    $16,480,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Tiffany Gardens / Garden Center / Landscaping
    • Abiola M. Wells, LPN / Registered General Nurse
    • Psychic Ben Medium - Serign / Life Coach
    • www.benmedium.com / Spiritual Center
    • Corys Apartment / Hotel & Motel

    Property Details for 870 Southern Blvd

    Year built
    2005
    Lot size
    0.81 lot acres
    Property size
    113,896 SF
    Zone code
    R7-1
    Property type
    Apartment buildings
    APN
    02733-0004
    APU
    27330004

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.8934
    Latitude
    40.8184
    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
    $0.00
    $236,250
    $1,638,450
    $1,874,700
    -
    $525,000
    $3,355,000
    $3,880,000

    Comparable in this City

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      $7,905,000
      29,366 SF

      1169 Hoe Ave

      APARTMENT HOUSE (5+ UNITS) • 29,366 SF
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    • Value Estimation
      $20,060,000
      88,463 SF

      1107 Bryant Ave

      APARTMENT HOUSE (5+ UNITS) • 88,463 SF
      1107 Bryant Ave, Bronx, NY 10459-2562
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    • Value Estimation
      $595,000
      2,718 SF

      1155 Longfellow Ave

      APARTMENT HOUSE (5+ UNITS) • 2,718 SF
      1155 Longfellow Ave, Bronx, NY 10459-2658
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    • Value Estimation
      $895,000
      5,436 SF

      1047 Hoe Ave

      APARTMENT HOUSE (5+ UNITS) • 5,436 SF
      1047 Hoe Ave, Bronx, NY 10459-3658
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    • Value Estimation
      $3,230,000
      22,000 SF

      1036 Intervale Ave

      APARTMENT HOUSE (5+ UNITS) • 22,000 SF
      1036 Intervale Ave, Bronx, NY 10459-2827
      View Details
    • Value Estimation by Request
      5,721 SF

      1147 Vyse Ave

      APARTMENT HOUSE (5+ UNITS) • 5,721 SF
      1147 Vyse Ave, Bronx, NY 10459-4470
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,000 SF

      Retail Space with Storefronts

      New retail spaces available August 1, 2017, flexible lease terms.
      926 Southern Blvd, Bronx, NY 10459
      View Details
    • Contact for pricing

      66,634 SF Land For Lease

      66,634 SF of land available for lease.
      893 E 167Th St, Bronx, NY 10459
      View Details
    • Contact for pricing
      4,400 SF

      Retail Space in Shopping District

      Retail space in the heart of a vibrant shopping district.
      1019 Southern Blvd, Bronx, NY 10459
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    • Contact for pricing
      8,736 SF

      Bronx Retail Space Available

      Retail space available in the Bronx, New York.
      960 Southern Blvd, Bronx, NY 10459
      View Details
    • Contact for pricing
      3,027 SF

      Retail Space Available For Rent

      Retail space available for rent in Bronx, NY.
      1041 Southern Blvd, Bronx, NY 10459
      View Details
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    870 Southern Blvd
    Bronx, NY 10459-4523
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    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
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