Gut-Renovated Apartment
For Sale
Contact for pricing
126 Alexander Ave, Bronx, NY 10454
Five apartments and a ground-floor store combine residential income with established retail occupancy.
Property Size7,620 SF
Price / SF$387.14
Days on Market151
Property Features for 126 Alexander Ave
General Information
Standard status
Active
Size
7,620 SF
Property subtype
Multifamily
Zoning
M1-2/ R6A
Net Operating Income
$215,350
Additional Details
Average Monthly Rent
$3,050
Public Transit
Yes
Multifamily Units
5
Amenities
in-unit washer/dryer
private rooftop
Building Details
Year Built
1915
Buildings
1
Stories
4
Units
6
Tenancy
Multi
Listing Agency:
Marcus & Millichap - NYM Group
Listed By:
Joe Koicim · License #NY 10301208718
Source:
Crexi
Added: Apr 3
Changed: Aug 30
Last Checked: Aug 30 at 7:51AM
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 Marcus & Millichap - NYM Group
Investment Insights
Based on property information with market context.
This 1915 apartment building contains five apartments and one ground-floor store, with 7,620 square feet across the property. A complete gut renovation delivered new building systems throughout, while the apartments include high-end finishes and in-unit washers and dryers. Tenants pay their own heat and hot water, and residents have access to a finished private rooftop area. The building is classified as a tax class 2B property with free-market apartments and M1-2/R6A zoning.
The retail space is occupied by Sculpt NYC, a medical spa, providing an established commercial component within the building. The property is located at 126 Alexander Ave in the Bronx, between Bruckner Boulevard and 134th Street, near the Harlem River waterfront, Willis Avenue Bridge, Third Avenue Bridge, Pulaski Park, and the 138th Street train station.
The retail space is occupied by Sculpt NYC, a medical spa, providing an established commercial component within the building. The property is located at 126 Alexander Ave in the Bronx, between Bruckner Boulevard and 134th Street, near the Harlem River waterfront, Willis Avenue Bridge, Third Avenue Bridge, Pulaski Park, and the 138th Street train station.
Key Highlights
- Five apartments plus one ground‑floor store
- 7,620 square feet; built in 1915
- 100% complete gut renovation with new building systems
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
$175,288
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
5.94%
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%
$3,505,760
$3.5M
Cap Rate 7%
$2,504,114
$2.5M
Cap Rate 9%
$1,947,644
$1.9M
Market Conditions
NOI Build-Up for 7,620 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
$338.3K $44.40/SF
− Vacancy
−$19.6K −$2.58/SF
EGI
$318.7K $41.82/SF
− OpEx
−$143.4K −$18.82/SF
NOI
$175.3K $23.00/SF
Area
Bronx, NY
Vacancy
5.80%
Lease Rate
$44.40 /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%
$3,505,760
Cap Rate 7%
$2,504,114
Cap Rate 9%
$1,947,644
Alternative Uses
Best Use
Apartment 5plus
$2.50M
$2.19M – $2.92M
NOI $175,288 @ 7.0% cap · market cap 5.94%
Second Best
Retail
$2.29M
$2.01M – $2.67M
NOI $160,404 @ 7.0% cap · market cap 5.44%
Theoretical Best
Warehouse
$5.28M
$4.62M – $6.16M
NOI $369,609 @ 7.0% cap · market cap 12.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,083
Businesses Nearby
Explore this area
Business Placement
Demographics for 10454, NY
40,232
Population
15,397
Households
2.6
Avg Household Size
33
Median Age
14%
College-Educated
62%
High-School Grad
1.1 sq mi
ZIP Area
36,575
Density / Sq Mi
$27,500
Median Household Income
$31,243
Median Earnings
$1,064
Median Rent
$780,800
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 - Five apartments and a ground-floor store combine residential income with established retail occupancy.
Where is this apartment building located?
The property is located at 126 Alexander Ave Bronx, NY.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Five apartments plus one ground‑floor store; 7,620 square feet; built in 1915; 100% complete gut renovation with new building systems
