Building Details

Year built 1928

Floors in Building 3

Listing Agency: TWELVE STONES REALTY Show Phone

Listed By: Avraham Birnbaum Show Phone

Added: Jul 14 Changed: Jul 16 Last Checked: Aug 9 at 10:06AM

Report an Issue

MLS# 11885275

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.

746 E 215th Street is a fully detached 4-family mixed-use building on an oversized 27' x 125' lot, with a 20' x 68' building footprint. The ground floor includes vacant commercial space along with a private garage and driveway for off-street parking. The second floor offers two 1-bedroom residential apartments, and the third floor provides two spacious 2-bedroom residential apartments.

The property is located in the Bronx’s Williamsbridge neighborhood and is described as being convenient to major transportation, shopping corridors, schools, parks, and neighborhood amenities. It is within R6A zoning, with approximately 10,125 square feet of maximum buildable floor area and roughly 7,000 square feet of unused development rights, subject to buyer due diligence and required approvals.

This combination of income-producing residential units, flexible vacant commercial space, and zoning-based redevelopment opportunity makes the property suitable for buyers considering expansion, redevelopment, or a mix of owner-use and rental income, based on their underwriting and approvals.

Key Highlights

• Fully detached 4‑family mixed‑use building on a 27' x 125' lot in the Williamsbridge area of the Bronx (built in 1928).
• Building footprint is 20' x 68', with ground‑floor vacant commercial space plus residential apartments on the 2nd and 3rd floors.
• Unit mix: two 1‑bedroom apartments on the second floor and two 2‑bedroom apartments on the third floor.

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

$90,670

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

7.25%

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%

$1,813,400 $1.8M

Cap Rate 7%

$1,295,286 $1.3M

Cap Rate 9%

$1,007,444 $1.0M

Market Conditions

NOI Build-Up for 3,724 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

$138.5K $37.20/SF

− Vacancy

−$9.0K −$2.42/SF

EGI

$129.5K $34.78/SF

− OpEx

−$38.9K −$10.43/SF

NOI

$90.7K $24.35/SF

Area

ZIP 10467

Vacancy

6.50%

Lease Rate

$37.20 /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%

$1,813,400

Cap Rate 7%

$1,295,286

Cap Rate 9%

$1,007,444

Alternative Uses

Best Use

Multifamily LT 5

$1.30M

$1.13M – $1.51M (±1% cap)

NOI $90,670 @ 7.0% cap · market cap 7.25%

Second Best

Apartment 5plus

$1.16M

$1.01M – $1.35M (±1% cap)

NOI $81,035 @ 7.0% cap · market cap 6.48%

Theoretical Best

Warehouse

$2.58M

$2.26M – $3.01M (±1% cap)

NOI $180,633 @ 7.0% cap · market cap 14.45%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Quadplexes

Suggested Use

Top Pick Law Firm Real Estate Agency Gym & Fitness Center Parking Lot & Garage Acupuncture Bar & Pub

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

Location Intelligence

Trade Area within ½ mile

2,185

Businesses Nearby

Explore this area Business Placement

Demographics for 10467, NY

103,660

Population

40,582

Households

2.6

Avg Household Size

36

Median Age

22%

College-Educated

75%

High-School Grad

2.3 sq mi

ZIP Area

45,070

Density / Sq Mi

$47,806

Median Household Income

$36,949

Median Earnings

$1,505

Median Rent

$425,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this quadplexes located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Frequently Asked Questions

What type of property is this?

Quadplex - Detached 4-family property with vacant ground-floor commercial space, off-street parking, and four residential units.

Where is this quadplex located?

The property is located at 746 E 215 Williamsbridge, NY.

What is the asking price?

The asking price for this property is $1,250,000.

What are key features of this property?

This property features: Fully detached 4‑family mixed‑use building on a 27' x 125' lot in the Williamsbridge area of the Bronx (built in 1928).; Building footprint is 20' x 68', with ground‑floor vacant commercial space plus residential apartments on the 2nd and 3rd floors.; Unit mix: two 1‑bedroom apartments on the second floor and two 2‑bedroom apartments on the third floor.