Multifamily
For Sale
$1,350,000
596 grand concourse, Bronx, NY 10451
Residential Income, bronx, NY
Property Size3,275 SF
Lot Size0.04 Acres
Price / SF$412.21
Days on Market52
Property Features for 596 grand concourse
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Bedrooms
2
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 2, Bathroom 4, Bathroom 1, Bathroom 2, Bathroom 3
Security features
Security System
Subdivision
West Bronx
Standard status
Active
APN
2443-41
Size
3,275 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
21202
Utilities
Heating system
Natural Gas, Steam
Water source
Public
Building Details
Year built
1931
Floors in Building
4
Flooring type
Laminate, Tile
Listing Agency:
NARDIN ELITE ASSOCIATES INC
(718) 798-6100
Listed By:
Leslie Bhagwandin
(914) 830-2200
Added: Aug 12
Changed: Oct 1
Last Checked: Oct 2 at 9:06AM
MLS# 11931432
Copyright © 2026 My State 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 3,275-square-foot multifamily property was built in 1931 on a 0.0361-acre lot. The interior includes laminate and tile flooring, with steam and natural gas heating. Public water serves the property. The layout includes two bedrooms and four bathrooms. A rent roll can be provided to qualified purchasers.
Key Highlights
- 3,275 square feet of building area
- Two bedrooms and four bathrooms
- Built in 1931 on a 0.0361‑acre lot
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
$75,337
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
5.58%
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%
$1,506,740
$1.5M
Cap Rate 7%
$1,076,243
$1.1M
Cap Rate 9%
$837,078
$837.1K
Market Conditions
NOI Build-Up for 3,275 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
$145.4K $44.40/SF
− Vacancy
−$8.4K −$2.58/SF
EGI
$137.0K $41.82/SF
− OpEx
−$61.6K −$18.82/SF
NOI
$75.3K $23.00/SF
Area
Bronx, NY
Vacancy
5.80%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
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%
$1,506,740
Cap Rate 7%
$1,076,243
Cap Rate 9%
$837,078
Alternative Uses
Best Use
Apartment 5plus
$1.08M
$941.7K – $1.26M
NOI $75,337 @ 7.0% cap · market cap 5.58%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.27M
$1.99M – $2.65M
NOI $158,854 @ 7.0% cap · market cap 11.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
5,636
Businesses Nearby
Explore this area
Business Placement
Demographics for 10451, NY
51,536
Population
21,850
Households
2.4
Avg Household Size
36
Median Age
21%
College-Educated
74%
High-School Grad
1.1 sq mi
ZIP Area
46,851
Density / Sq Mi
$37,111
Median Household Income
$35,765
Median Earnings
$1,269
Median Rent
$263,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - The building has a two-bedroom layout with four bathrooms.
Where is this multifamily property located?
The property is located at 596 grand concourse Bronx, NY.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 3,275 square feet of building area; Two bedrooms and four bathrooms; Built in 1931 on a 0.0361‑acre lot
