615 Mead Street
About This Property
615 Mead Street is a lot/land for sale located in the Van Nest neighborhood of the Bronx, New York. The lot measures 2,500 square feet, with dimensions of 25 feet in width and 100 feet in depth. Zoning R5.
This property is situated within a residential area characterized by a mix of single-family homes and multi-unit dwellings. Nearby parks include Van Nest Park, which features the Van Nest Memorial Square-a war memorial erected in 1926 by the Van Nest Citizens' Patriotic League. The neighborhood is also in proximity to Arthur Avenue, known as the "Little Italy of the Bronx," offering a variety of Italian restaurants and markets.
Transportation options are accessible, with several bus routes serving the area and the 2 and 5 subway lines located within a mile. The property's location provides convenient access to local amenities, schools, and major highways, making it a potentially attractive investment for residential development or multi-family housing.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| May 29, 2026 | Relisted | $525,000 | |
| Relisted | |||
| May 5, 2026 | No longer available | - | |
| No longer available | |||
| Mar 30, 2026 | Listed by Sotheby's International Realty | $525,000 | |
| Listed by Sotheby's International Realty | |||
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Rarely does an opportunity this clean and ready for vision emerge in the heart of Van Nest. Located at 615 Mead Street, this approximately 2,500-square-foot vacant lot offers a blank canvas for those looking to build from the ground up in one of the Bronx’s most established residential pockets.
With clear dimensions of 25 feet by 100 feet, the site provides a straightforward footprint for development. Whether you are an investor looking to add to your portfolio or a visionary looking to create a custom residence tailored to your specific needs, this lot represents a significant foothold in a neighborhood known for its accessibility and enduring character.
Positioned within easy reach of local transit, shopping, and dining, the location blends urban convenience with the distinct feel of a long-standing community. Opportunities to acquire raw land in this area are increasingly scarce. Bring your architect, bring your plans, and capitalize on the chance to shape the future of Mead Street.
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| Apr 7, 2025 | Listed by Sothebys International Realty | $525,000 | |
| Listed by Sothebys International Realty | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017