Listing Agency: Howard Hanna Rand Realty Show Phone

Listed By: The Moda Team at Compass Show Phone

Source: Modarealty

Added: Oct 19 Last Checked: Oct 19 at 3:17AM

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Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$58,424

Cap Rate

7.79%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,168,480 $1.2M

Cap Rate 7%

$834,629 $834.6K

Cap Rate 9%

$649,156 $649.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,300 SF

Gross rent

$88.3K $38.40/SF

− Vacancy

−$4.9K −$2.11/SF

EGI

$83.5K $36.29/SF

− OpEx

−$25.0K −$10.89/SF

NOI

$58.4K $25.40/SF

Area

Bronx, NY

Vacancy

5.50%

Lease Rate

$38.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,168,480

Cap Rate 7%

$834,629

Cap Rate 9%

$649,156

Alternative Uses

Best Use

Multifamily LT 5

$834.6K

$730.3K – $973.7K (±1% cap)

NOI $58,424 @ 7.0% cap · market cap 7.79%

Second Best

Apartment 5plus

$755.8K

$661.4K – $881.8K (±1% cap)

NOI $52,908 @ 7.0% cap · market cap 7.05%

Theoretical Best

Warehouse

$1.59M

$1.39M – $1.86M (±1% cap)

NOI $111,562 @ 7.0% cap · market cap 14.87%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Suggested Use

Top Pick Law Firm Real Estate Agency Gym & Fitness Center Skin Care Clinic 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.

Location Intelligence

Trade Area within ½ mile

4,405

Businesses Nearby

Explore this area Business Placement

Demographics for 10459, NY

50,984

Population

18,678

Households

2.7

Avg Household Size

34

Median Age

14%

College-Educated

68%

High-School Grad

0.8 sq mi

ZIP Area

63,730

Density / Sq Mi

$39,276

Median Household Income

$30,200

Median Earnings

$1,285

Median Rent

$589,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

Where is this residential land & home lot located?

The property is located at 1071 Tiffany St Bronx, NY.

What is the asking price?

The asking price for this property is $750,000.