Mixed-Use Building With
For Sale
$1,695,000
Pending
1242 Castle Hill Avenue, Bronx, NY 10462
MULTI_FAMILY - Bronx, NY
Property Size4,800 SF
Days on Market103
Property Features for 1242 Castle Hill Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Subdivision
East Bronx
Standard status
Pending
Utilities
Water source
Public
Building Details
Building materials
Brick
Roof type
Flat
Listing Agency:
COUNTRYWIDE REAL ESTATE INC
(718) 863-2900
Listed By:
Harry Sanichara
Added: May 4
Changed: Aug 3
Last Checked: Aug 14 at 11:06AM
MLS# 11738757
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.
This mixed-use brick building combines a ground-floor store with two residential units above. The retail component measures 1,200 square feet and includes full access to a 1,200-square-foot basement. Each upper-floor apartment contains 1,200 square feet, four bedrooms, and one full bathroom.
The property comprises 4,800 square feet in total and is located on Castle Hill Avenue in the Bronx, near a train station. Public water service and a flat roof are also reported.
The property comprises 4,800 square feet in total and is located on Castle Hill Avenue in the Bronx, near a train station. Public water service and a flat roof are also reported.
Key Highlights
- 1,200 SF ground‑floor store with full access to a 1,200 SF basement
- Two 1,200 SF four‑bedroom apartments, each with one full bathroom
- 4,800 SF total property size
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
$103,883
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
6.13%
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%
$2,077,660
$2.1M
Cap Rate 7%
$1,484,043
$1.5M
Cap Rate 9%
$1,154,256
$1.2M
Market Conditions
NOI Build-Up for 4,800 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
$199.9K $41.64/SF
− Vacancy
−$11.0K −$2.29/SF
EGI
$188.9K $39.35/SF
− OpEx
−$85.0K −$17.71/SF
NOI
$103.9K $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%
$2,077,660
Cap Rate 7%
$1,484,043
Cap Rate 9%
$1,154,256
Alternative Uses
Best Use
Apartment 5plus
$1.48M
$1.30M – $1.73M
NOI $103,883 @ 7.0% cap · market cap 6.13%
Second Best
Mixed Use
$1.36M
$1.19M – $1.58M
NOI $95,040 @ 7.0% cap · market cap 5.61%
Theoretical Best
Office A
$2.29M
$2.00M – $2.67M
NOI $160,321 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,174
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?
Mixed-use property - Retail space and two four-bedroom apartments occupy a brick property near a train station.
Where is this mixed-use property located?
The property is located at 1242 Castle Hill Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: 1,200 SF ground‑floor store with full access to a 1,200 SF basement; Two 1,200 SF four‑bedroom apartments, each with one full bathroom; 4,800 SF total property size
