Three-Family Brick Building in
For Sale
$1,395,000
Pending
856 Van Nest Ave The, Bronx, NY 10462
Three-family brick building with parking and backyard in Morris Park.
Property Size3,876 SF
Lot Size0.03 Acres
Days on Market265
Property Features for 856 Van Nest Ave The
General Information
Standard status
Pending
Size
3,876 SF
Lot size
0.03 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$7,311
Building Details
Building Size
3,876 SF
Year Built
2002
Units
3
Listing Agency:
Nguyen's Realty Corp.
(718) 430-0043
Listed By:
Laura D. Nguyen
(718) 430-0043
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 8
Last Checked: Aug 8 at 5:44AM
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 Nguyen's Realty Corp.
Investment Insights
Based on property information with market context.
This is a three-family detached brick building constructed in 2002. The property includes a finished basement with a half bathroom, a driveway, and a backyard, with parking space for 2-3 cars. The layout includes a renovated top-floor apartment with 2 bedrooms, 2 full bathrooms, and 2 balconies. The second floor features an apartment with 2 bedrooms, 2 full bathrooms, and 2 balconies. The first floor has an apartment with 3 bedrooms and 2 full bathrooms. Each unit is responsible for all utilities. The property has 4 separate gas and electric heating boilers. Located in the Morris Park section, the building is within walking distance of restaurants, shopping, major highways, and public transportation (train and bus). Amenities include storage and parking features include a 2-car detached garage.
Key Highlights
- Detached brick 3‑family property built in 2002.
- Each unit pays for all of their own utilities (gas and electric).
- Three apartments, each with 2 full bathrooms.
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
$83,886
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
6.01%
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%
$1,677,720
$1.7M
Cap Rate 7%
$1,198,371
$1.2M
Cap Rate 9%
$932,067
$932.1K
Market Conditions
NOI Build-Up for 3,876 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
$161.4K $41.64/SF
− Vacancy
−$8.9K −$2.29/SF
EGI
$152.5K $39.35/SF
− OpEx
−$68.6K −$17.71/SF
NOI
$83.9K $21.64/SF
Area
ZIP 10462
Vacancy
5.50%
Lease Rate
$41.64 /SF/Yr
Expense Ratio
45.00%
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%
$1,677,720
Cap Rate 7%
$1,198,371
Cap Rate 9%
$932,067
Alternative Uses
Best Use
Apartment 5plus
$1.20M
$1.05M – $1.40M
NOI $83,886 @ 7.0% cap · market cap 6.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.85M
$1.62M – $2.16M
NOI $129,459 @ 7.0% cap · market cap 9.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,537
Businesses Nearby
Explore this area
Business Placement
Demographics for 10462, NY
84,655
Population
31,828
Households
2.7
Avg Household Size
37
Median Age
28%
College-Educated
83%
High-School Grad
1.5 sq mi
ZIP Area
56,437
Density / Sq Mi
$63,460
Median Household Income
$42,383
Median Earnings
$1,711
Median Rent
$372,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Three-family brick building with parking and backyard in Morris Park.
Where is this apartment building located?
The property is located at 856 Van Nest Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: Detached brick 3‑family property built in 2002.; Each unit pays for all of their own utilities (gas and electric).; Three apartments, each with 2 full bathrooms.
