Two-Unit Storefront
For Sale
$949,000
70 Grace Church Street, Bronx, NY 10573
Commercial, Bronx, NY
Property Size2,988 SF
Lot Size0.19 Acres
Price / SF$317.60
Days on Market153
Property Features for 70 Grace Church Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CD2
Basement
Finished
Subdivision
Westchester
Standard status
Active
Size
2,988 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Annual Amount
21670
Amenities
large display windows
excellent street exposure
signage opportunities
Building Details
Year built
1984
Number of units
1
Building materials
Brick, Wood Frame
Roof type
Asphalt
Listing Agency:
RD Realty Consultants I LLC
(718) 859-0800
Listed By:
David James
(848) 444-0113
Added: Apr 14
Changed: Aug 19
Last Checked: Sep 13 at 4:06PM
MLS# 500244
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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 storefront property contains two independent commercial units within a 2,988-square-foot building. Each unit includes large display windows, creating distinct retail-facing spaces with room for separate occupancy or coordinated use. The building was constructed in 1984 with brick and wood-frame construction and has an asphalt roof.
The property sits on a 0.1924-acre parcel and carries CD2 zoning. Its two-unit configuration provides a practical foundation for an owner-user arrangement or multiple commercial occupants, subject to applicable approval. The existing storefront design supports street-facing business operations and separate unit identity.
The property sits on a 0.1924-acre parcel and carries CD2 zoning. Its two-unit configuration provides a practical foundation for an owner-user arrangement or multiple commercial occupants, subject to applicable approval. The existing storefront design supports street-facing business operations and separate unit identity.
Key Highlights
- Two independent commercial units with large display windows
- 2,988 square feet of building area
- 0.1924‑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
$62,899
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
6.63%
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%
$1,257,980
$1.3M
Cap Rate 7%
$898,557
$898.6K
Cap Rate 9%
$698,878
$698.9K
Market Conditions
NOI Build-Up for 2,988 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
$100.4K $33.60/SF
− Vacancy
−$10.5K −$3.53/SF
EGI
$89.9K $30.07/SF
− OpEx
−$27.0K −$9.02/SF
NOI
$62.9K $21.05/SF
Area
Bronx, NY
Vacancy
10.50%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
30.00%
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%
$1,257,980
Cap Rate 7%
$898,557
Cap Rate 9%
$698,878
Alternative Uses
Best Use
Retail
$898.6K
$786.2K – $1.05M
NOI $62,899 @ 7.0% cap · market cap 6.63%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.07M
$1.81M – $2.42M
NOI $144,933 @ 7.0% cap · market cap 15.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
343
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10573, NY
41,758
Population
14,592
Households
2.9
Avg Household Size
39
Median Age
44%
College-Educated
83%
High-School Grad
5.5 sq mi
ZIP Area
7,592
Density / Sq Mi
$110,612
Median Household Income
$48,263
Median Earnings
$1,940
Median Rent
$649,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Storefront property - Commercial building with separate units, display windows, and a CD2 zoning designation.
Where is this storefront property located?
The property is located at 70 Grace Church 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: Two independent commercial units with large display windows; 2,988 square feet of building area; 0.1924‑acre lot
