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    3641 Johnson Avenue Bronx, NY 10463

    Sponsored
    Source: https://caprijetrealty.com
    For Sale
    $13,888,000

    34,400+ Sqft 26 Unit Apartment Building In Riverdale For Sale

    Property size:
    34,400 SF

    Description

    Added:
    May 8, 2025
    Days on Market:
    252
    Calling All Investors, Developers & End-Users!!! BRAND NEW 34,400+ Sqft. 26 Unit Apartment Building In Riverdale For Sale!!! The Building Features Excellent Signage, Great Exposure, 6 Parking Spaces, High 8' Ceilings, Strong R7A Zoning, Virtual Doorman, Security System, 2 Bicycle Rooms, Laundry Room, Elevator, Private Gated Driveway, Multi-level Terrace Area, Large Yard, Ramp, Garbage Chute, Sprinklers, All New LED Lighting, 3 Phase Power, CAC, +++!!! The Building Can Be Accessed By Key, Key Fob, Or Face ID!!! The Property Is Located In The Heart Of Riverdale Just Off The Henry Hudson Parkway Only Minutes From Riverdale Park, Manhattan University & Van Cortlandt Park!!! Neighbors Include Starbucks, Chase Bank, Wells Fargo Bank, Target, Stop & Shop, CubeSmart Self Storage, Wendy's, Subway, Bob's Discount Furniture, Liberty Tax, +++!!! The Building Was Built In 2019 & Has A 421a!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!! Income: Unit B-A (1 Br. Apt., 736 Sqft.): $38,400 Ann. Unit B-B (1 Br. Apt., 839 Sqft.): $40,800 Ann. (Available) Unit 1-A (1 Br. Apt., 784 Sqft.): $28,500 Ann. Unit 1-B (Studio Apt., 689 Sqft.): $32,400 Ann. Unit 1-C (1 Br. Apt., 792 Sqft.): $37,200 Ann. Unit 2-A (2 Br. Apt., 1,062 Sqft.): $43,200 Ann. Unit 2-B (1 Br. Apt., 971 Sqft.): $39,600 Ann. Unit 2-C (2 Br. Apt., 983 Sqft.): $31,800 Ann. Unit 3-A (2 Br. Apt., 1,042 Sqft.): $45,600 Ann. Unit 3-B (1 Br. Apt., 943 Sqft.): $28,500 Ann. Unit 3-C (2 Br. Apt., 987 Sqft.): $43,200 Ann. Unit 4-A (2 Br. Apt., 1,042 Sqft.): $48,000 Ann. Unit 4-B (1 Br. Apt., 943 Sqft.): $28,500 Ann. Unit 4-C (2 Br. Apt., 987 Sqft.): $44,400 Ann. Unit 5-A (2 Br. Apt., 1,042 Sqft.): $45,600 Ann. Unit 5-B (1 Br. Apt., 943 Sqft.): $39,600 Ann. Unit 5-C (2 Br. Apt., 987 Sqft.): $31,800 Ann. Unit 6-A (2 Br. Apt., 1,042 Sqft.): $45,600 Ann. Unit 6-B (1 Br. Apt., 943 Sqft.): $28,500 Ann. Unit 6-C (2 Br. Apt., 987 Sqft.): $44,400 Ann. Unit 7-A (2 Br. Apt., 871 Sqft.): $31,800 Ann. Unit 7-B (1 Br. Apt., 909 Sqft.): $40,800 Ann. Unit 7-C (2 Br. Apt., 987 Sqft.): $46,800 Ann. (Available) Unit 8-A (2 Br. Apt., 836 Sqft.): $31,800 Ann. Unit 8-B (1 Br. Apt., 909 Sqft.): $39,600 Ann. Unit 8-C (2 Br. Apt., 987 Sqft.): $46,800 Ann. Pro Forma Gross Income: $1,003,200 Ann. Expenses: Gas: $12,000 Ann. Electric: $24,000 Ann. Maintenance & Repairs: $3,800 Ann. Insurance: $8,300 Ann. Water & Sewer: $24,000 Ann. Taxes: $50,000 Ann. (Protected Until 2058!!!) Total Expenses: $122,100 Ann. Net Operating Income (NOI): $881,100 Ann. (Pro Forma 6.34 Cap!!!)

    Listing Provided by: Richard Matt Shane , All Island Estates Realty Corp 516-783-5600

    Property Features for 3641 Johnson Avenue

    General Information

    Property type
    Multifamily properties
    Square Feet
    34,400 SF
    Total Parking Spaces
    6
    Elevators
    N/A
    Lot Size
    34,400 SF

    Building Details

    Buildings
    1
    Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bronx
    State
    New York
    Longitude
    -73.9091476
    Latitude
    40.8886344

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    FAQs

    What type of property is this?
    Multifamily property - 34,400+ Sqft 26 Unit Apartment Building In Riverdale For Sale
    Where is this multifamily property located?
    The property is located at 3641 Johnson Avenue Bronx, NY.
    What is the asking price?
    The asking price for this property is $13,888,000.
    (516) 783-5600
    Request Owner's contact information
    3641 Johnson Avenue Bronx, NY 10463
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3641 Johnson Avenue Bronx, NY 10463
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