Corner Retail Property in
For Sale
$2,880,000
1254 Southern Blvd The, Bronx, NY 10459
High-visibility, fully leased retail property with long-term tenant.
Property Size5,000 SF
Lot Size0.11 Acres
Price / SF$576
Days on Market119
Property Features for 1254 Southern Blvd The
General Information
Standard status
Active
Size
5,000 SF
Lot size
0.11 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$40,263
Building Details
Building Size
5,000 SF
Year Built
1924
Listing Agency:
E REALTY INTERNATIONAL CORP.
(917) 547-4288
Listed By:
Wenting Wang · License #10401297420
(917) 547-4288
Source:
Elliman
Added: Apr 24
Changed: Aug 11
Last Checked: Aug 20 at 7:45AM
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 E REALTY INTERNATIONAL CORP.
Investment Insights
Based on property information with market context.
The property at 1254 Southern Blvd is a 5,000 square foot, single-story masonry retail building situated on a 5,000 square foot lot in the Bronx. It is a corner, free-standing property with high visibility. The building is fully leased to a single-tenant laundromat under a new 15-year lease commencing in April 2024. The property benefits from its location beneath an elevated subway line, which provides excellent exposure. It also benefits from strong pedestrian traffic and a dense residential and commercial trade area. The property is zoned R7-1 / C1-4 and is suitable for investors seeking predictable cash flow with minimal management. The location has a bike score of 66, indicating it is bikeable, a walk score of 84, indicating it is very walkable, and a transit score of 100, indicating it is a rider's paradise.
Key Highlights
- Fully leased to a single‑tenant laundromat under a new 15‑year lease, providing stable cash flow.
- High‑visibility, corner free‑standing retail property in a dense area of the Bronx.
- Excellent exposure beneath an elevated subway line and strong pedestrian traffic.
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
$105,252
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
3.65%
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%
$2,105,040
$2.1M
Cap Rate 7%
$1,503,600
$1.5M
Cap Rate 9%
$1,169,467
$1.2M
Market Conditions
NOI Build-Up for 5,000 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
$168.0K $33.60/SF
− Vacancy
−$17.6K −$3.53/SF
EGI
$150.4K $30.07/SF
− OpEx
−$45.1K −$9.02/SF
NOI
$105.3K $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%
$2,105,040
Cap Rate 7%
$1,503,600
Cap Rate 9%
$1,169,467
Alternative Uses
Best Use
Retail
$1.50M
$1.32M – $1.75M
NOI $105,252 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.46M
$3.03M – $4.04M
NOI $242,525 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,758
Businesses Nearby
144k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 49%
Groceries 24%
Dining 18%
Electronics 8%
McDonald's
Dining
20,756 visits/mo
0.4 miles
Chase Bank
Shops & Services
19,865 visits/mo
0.4 miles
Western Beef
Groceries
16,813 visits/mo
0.4 miles
BP
Shops & Services
16,221 visits/mo
0.4 miles
Key Food
Groceries
14,632 visits/mo
0.4 miles
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 Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - High-visibility, fully leased retail property with long-term tenant.
Where is this storefront property located?
The property is located at 1254 Southern Blvd The Bronx, NY.
What is the asking price?
The asking price for this property is $2,880,000.
What are key features of this property?
This property features: Fully leased to a single‑tenant laundromat under a new 15‑year lease, providing stable cash flow.; High‑visibility, corner free‑standing retail property in a dense area of the Bronx.; Excellent exposure beneath an elevated subway line and strong pedestrian traffic.
