Corner Storefront
For Sale
$2,880,000
1254 Southern Boulevard, Bronx, NY 10459
Commercial Sale, Bronx, NY
Property Size5,000 SF
Lot Size0.11 Acres
Price / SF$576
Days on Market242
Property Features for 1254 Southern Boulevard
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
R7-1
Standard status
Active
APN
02979-0020
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
40264
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Electric
Water source
Public
Building Details
Year built
1924
Building materials
Brick
Listing Agency:
B Square Realty
(718) 939-8388
Listed By:
Wenting Wang
(917) 547-4288
Added: Feb 1
Changed: Aug 19
Last Checked: Oct 1 at 6:06PM
MLS# 959124
Copyright © 2026 OneKey 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.
Located at 1254 Southern Boulevard in Bronx, NY, this storefront asset includes a 5,000-square-foot single-story brick building on a 5,000-square-foot lot. Constructed in 1924, the property has electric heating and cooling, with public water and sewer service.
The building is occupied by one laundromat tenant under a new 15-year lease that began in April 2024. Positioned on a corner beneath an elevated subway line, the property benefits from pedestrian activity within a dense residential and commercial trade area. The reported capitalization rate is 4.1%.
The building is occupied by one laundromat tenant under a new 15-year lease that began in April 2024. Positioned on a corner beneath an elevated subway line, the property benefits from pedestrian activity within a dense residential and commercial trade area. The reported capitalization rate is 4.1%.
Key Highlights
- 5,000 SF single‑story brick retail building on a 5,000 SF lot
- Single‑tenant laundromat occupancy under a new 15‑year lease commencing April 2024
- Corner property beneath an elevated subway line
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
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Storefront property - Single-story brick retail building occupied by a laundromat under a new long-term lease.
Where is this storefront property located?
The property is located at 1254 Southern Boulevard 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: 5,000 SF single‑story brick retail building on a 5,000 SF lot; Single‑tenant laundromat occupancy under a new 15‑year lease commencing April 2024; Corner property beneath an elevated subway line
