Corner Retail Building with Three
For Sale
Contact for pricing
3480 Boston Rd, Bronx, NY 10469
Single-story corner retail building with three leased spaces and 100 feet of frontage on Boston Road.
Property Size8,450 SF
Price / SF$739.64
Days on Market40
Property Features for 3480 Boston Rd
General Information
Standard status
Active
Size
8,450 SF
Property subtype
RETAIL
Additional Details
Traffic Count
28,000 vehicles/day
Building Details
Year Built
1950
Stories
1
Tenancy
Multi
Listing Agency:
Investment Property Realty Group (IPRG)
(718) 550-0087
Listed By:
Jared Friedman
(718) 550-0087
Source:
Moodyscre
Added: Jul 22
Changed: Aug 16
Last Checked: Aug 29 at 12:57PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Investment Property Realty Group (IPRG)
Investment Insights
Based on property information with market context.
This single-story corner retail building was built in 1950 and totals approximately 8,450 square feet. The property is arranged as three retail spaces, currently occupied by Domino’s, USPS, and an event space.
The building is situated at the intersection of Boston Road and Corsa Avenue in the Laconia section of the Bronx, with 100 feet of frontage along Boston Road, described as a heavily trafficked corridor with approximately 28,000 vehicles passing daily. Proximity to the Baychester Avenue subway station (6 line) provides transit access for the surrounding trade area.
The offering includes multiple lease- and rent-related paths to value, while also presenting an option for an end user to occupy the existing 3,000-square-foot space.
The building is situated at the intersection of Boston Road and Corsa Avenue in the Laconia section of the Bronx, with 100 feet of frontage along Boston Road, described as a heavily trafficked corridor with approximately 28,000 vehicles passing daily. Proximity to the Baychester Avenue subway station (6 line) provides transit access for the surrounding trade area.
The offering includes multiple lease- and rent-related paths to value, while also presenting an option for an end user to occupy the existing 3,000-square-foot space.
Key Highlights
- Single‑story corner retail building at Boston Road and Corsa Avenue in the Laconia section of the Bronx
- Built in 1950 with approximately 8,450 SF total area and 3 retail spaces
- 100 feet of frontage on Boston Road, a heavily trafficked corridor with approximately 28,000 vehicles passing daily
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
$177,876
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
2.85%
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%
$3,557,520
$3.6M
Cap Rate 7%
$2,541,086
$2.5M
Cap Rate 9%
$1,976,400
$2.0M
Market Conditions
NOI Build-Up for 8,450 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
$283.9K $33.60/SF
− Vacancy
−$29.8K −$3.53/SF
EGI
$254.1K $30.07/SF
− OpEx
−$76.2K −$9.02/SF
NOI
$177.9K $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%
$3,557,520
Cap Rate 7%
$2,541,086
Cap Rate 9%
$1,976,400
Alternative Uses
Best Use
Retail
$2.54M
$2.22M – $2.96M
NOI $177,876 @ 7.0% cap · market cap 2.85%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$5.86M
$5.12M – $6.83M
NOI $409,868 @ 7.0% cap · market cap 6.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
28,000 VPD
Traffic count
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,026
Businesses Nearby
160k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 75%
Shops & Services 20%
Groceries 5%
Burger King
Dining
28,875 visits/mo
0.1 miles
Wendy's
Dining
28,281 visits/mo
0.3 miles
McDonald's
Dining
25,072 visits/mo
0.4 miles
BP
Shops & Services
13,285 visits/mo
0.4 miles
Popeyes Louisiana Kitchen
Dining
12,779 visits/mo
0.1 miles
Demographics for 10469, NY
71,571
Population
25,082
Households
2.9
Avg Household Size
39
Median Age
29%
College-Educated
83%
High-School Grad
2.4 sq mi
ZIP Area
29,821
Density / Sq Mi
$76,018
Median Household Income
$45,857
Median Earnings
$1,653
Median Rent
$640,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Mateo flowers shop — 3970 Laconia Ave, Bronx, NY 10466
Frequently Asked Questions
What type of property is this?
Storefront property - Single-story corner retail building with three leased spaces and 100 feet of frontage on Boston Road.
Where is this storefront property located?
The property is located at 3480 Boston Rd Bronx, NY.
What is the asking price?
The asking price for this property is $6,250,000.
What are key features of this property?
This property features: Single‑story corner retail building at Boston Road and Corsa Avenue in the Laconia section of the Bronx; Built in 1950 with approximately 8,450 SF total area and 3 retail spaces; 100 feet of frontage on Boston Road, a heavily trafficked corridor with approximately 28,000 vehicles passing daily
