Three-Story Mixed-Use
For Sale
$949,000
511 E 183rd Street, Bronx, NY 10458
Commercial Sale, Bronx, NY
Property Size4,280 SF
Lot Size0.05 Acres
Price / SF$221.73
Days on Market51
Property Features for 511 E 183rd Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R7-1
Elementary school district
Bronx 10
Middle school district
Bronx 10
High school district
Bronx 10
Directions
Fordham Road to 3rd Ave /Fordham Plz, continute on 3rd to slight right onto Bassford to left on 183rd Street.
Standard status
Active
APN
03053-0022
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5074
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Multi Units
Water source
Public
Building Details
Year built
1901
Floors in Building
3
Number of units
3
Building materials
Vinyl Siding
Listing Agency:
Charles Rutenberg Realty, Inc.
(516) 575-7500
Listed By:
Georgina T. Maynard · License #10301221438
(914) 319-3634
Added: Jul 20
Changed: Aug 20
Last Checked: Sep 8 at 11:06PM
MLS# 1030608
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This three-story mixed-use property combines a street-level retail storefront with two residential apartments configured as three-bedroom and four-bedroom units. The retail space is occupied, while both apartments are expected to be vacant at closing. The building dates to 1901, has vinyl siding, natural-gas heating, multi-unit cooling, and public water and sewer service. Zoning is R7-1, and the property carries Tax Class 1.
The property is located at 511 E 183rd Street in the Bronx, just off Fordham Road. Nearby destinations identified in the property information include Fordham University, Arthur Avenue, St. Barnabas Hospital, shopping, schools, major highways, and public transportation. Subway access includes the B, D, and 4 lines, with multiple bus routes also serving the area. Showings are by appointment, and the retail occupant should not be disturbed.
The property is located at 511 E 183rd Street in the Bronx, just off Fordham Road. Nearby destinations identified in the property information include Fordham University, Arthur Avenue, St. Barnabas Hospital, shopping, schools, major highways, and public transportation. Subway access includes the B, D, and 4 lines, with multiple bus routes also serving the area. Showings are by appointment, and the retail occupant should not be disturbed.
Key Highlights
- Three‑story mixed‑use building with one retail storefront and two apartments
- Residential units include one 3‑bedroom apartment and one 4‑bedroom apartment
- Both apartments are expected to be vacant at closing; retail space is occupied
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$85,707
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.03%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,714,140
$1.7M
Cap Rate 7%
$1,224,386
$1.2M
Cap Rate 9%
$952,300
$952.3K
Market Conditions
NOI Build-Up for 4,280 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$154.1K $36.00/SF
− Vacancy
−$16.9K −$3.96/SF
EGI
$137.1K $32.04/SF
− OpEx
−$51.4K −$12.02/SF
NOI
$85.7K $20.03/SF
Area
Bronx, NY
Vacancy
11.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,714,140
Cap Rate 7%
$1,224,386
Cap Rate 9%
$952,300
Alternative Uses
Best Use
Specialty Retail
$1.49M
$1.31M – $1.74M
NOI $104,582 @ 7.0% cap · market cap 11.02%
Second Best
Apartment 5plus
$1.41M
$1.23M – $1.64M
NOI $98,456 @ 7.0% cap · market cap 10.37%
Theoretical Best
Warehouse
$2.97M
$2.60M – $3.46M
NOI $207,602 @ 7.0% cap · market cap 21.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
6,700
Businesses Nearby
Explore this area
Business Placement
Demographics for 10458, NY
81,299
Population
30,592
Households
2.7
Avg Household Size
32
Median Age
16%
College-Educated
68%
High-School Grad
1.2 sq mi
ZIP Area
67,749
Density / Sq Mi
$42,107
Median Household Income
$29,596
Median Earnings
$1,548
Median Rent
$515,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor retail complements two vacant residential apartments in a Bronx building near Fordham Road, transit, shopping, and institutional destinations.
Where is this mixed-use property located?
The property is located at 511 E 183rd Street Bronx, NY.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Three‑story mixed‑use building with one retail storefront and two apartments; Residential units include one 3‑bedroom apartment and one 4‑bedroom apartment; Both apartments are expected to be vacant at closing; retail space is occupied
