Three-Story Mixed-Use
For Sale
$949,000
511 E 183rd St The, Bronx, NY 10458
Three-story mixed-use building with ground-floor retail and two apartments, with residential units to be delivered vacant at closing.
Property Size4,280 SF
Price / SF$221.73
Days on Market43
Property Features for 511 E 183rd St The
General Information
Standard status
Active
Size
4,280 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 3BR, 1 x 4BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,074
Building Details
Building Size
4,280 SF
Year Built
1901
Buildings
1
Stories
3
Units
3
Tenancy
Single
Listing Agency:
Charles Rutenberg Realty, Inc.
Listed By:
Georgina T. Maynard · License #10301221438
(914) 319-3634
Source:
Elliman
Added: Jul 28
Changed: Sep 6
Last Checked: Sep 8 at 6:23AM
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 Charles Rutenberg Realty, Inc.
Investment Insights
Based on property information with market context.
Three-story mixed-use building with approximately 4,280 square feet. The property includes one ground-floor retail storefront and two residential apartments: one 3-bedroom unit and one 4-bedroom unit. Both residential apartments will be delivered vacant at closing, while the retail space is currently occupied, providing immediate income alongside the residential component.
The property is located at 511 E 183rd St in The Bronx, just off Fordham Road. The surrounding area provides access to shopping, restaurants, schools, major highways, and public transportation, including the B, D, and 4 subway lines and multiple bus routes.
Built in 1901 and classified as Tax Class 1, the building offers a practical mixed-use structure for investors, owner-users, or 1031 exchange buyers seeking an in-place retail tenant with residential income potential through vacancy delivery at closing.
The property is located at 511 E 183rd St in The Bronx, just off Fordham Road. The surrounding area provides access to shopping, restaurants, schools, major highways, and public transportation, including the B, D, and 4 subway lines and multiple bus routes.
Built in 1901 and classified as Tax Class 1, the building offers a practical mixed-use structure for investors, owner-users, or 1031 exchange buyers seeking an in-place retail tenant with residential income potential through vacancy delivery at closing.
Key Highlights
- Approximately 4,280 SF three‑story mixed‑use building with one ground‑floor retail storefront
- One 3‑bedroom and one 4‑bedroom apartment, both delivered vacant at closing
- Retail space is occupied for immediate income
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
$85,707
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
9.03%
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%
$1,714,140
$1.7M
Cap Rate 7%
$1,224,386
$1.2M
Cap Rate 9%
$952,300
$952.3K
Market Conditions
NOI Build-Up for 4,280 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
$154.1K $36.00/SF
− Vacancy
−$16.9K −$3.96/SF
EGI
$137.1K $32.04/SF
− OpEx
−$51.4K −$12.02/SF
NOI
$85.7K $20.03/SF
Area
Bronx, NY
Vacancy
11.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,714,140
Cap Rate 7%
$1,224,386
Cap Rate 9%
$952,300
Alternative Uses
Best Use
Apartment 5plus
$1.41M
$1.23M – $1.64M
NOI $98,456 @ 7.0% cap · market cap 10.37%
Second Best
Retail
$1.29M
$1.13M – $1.50M
NOI $90,096 @ 7.0% cap · market cap 9.49%
Theoretical Best
Warehouse
$2.97M
$2.60M – $3.46M
NOI $207,602 @ 7.0% cap · market cap 21.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
6,700
Businesses Nearby
191k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 59%
Groceries 19%
Dining 18%
Hotels & Casinos 3%
Western Beef
Groceries
27,533 visits/mo
0.4 miles
Shell
Shops & Services
26,480 visits/mo
0.5 miles
White Castle
Dining
17,704 visits/mo
0.4 miles
Dollar Tree
Shops & Services
17,369 visits/mo
0.3 miles
BP
Shops & Services
11,385 visits/mo
0.2 miles
Demographics for 10458, NY
81,299
Population
30,592
Households
2.7
Avg Household Size
32
Median Age
16%
College-Educated
68%
High-School Grad
1.2 sq mi
ZIP Area
67,749
Density / Sq Mi
$42,107
Median Household Income
$29,596
Median Earnings
$1,548
Median Rent
$515,700
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.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story mixed-use building with ground-floor retail and two apartments, with residential units to be delivered vacant at closing.
Where is this mixed-use property located?
The property is located at 511 E 183rd St The Bronx, NY.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Approximately 4,280 SF three‑story mixed‑use building with one ground‑floor retail storefront; One 3‑bedroom and one 4‑bedroom apartment, both delivered vacant at closing; Retail space is occupied for immediate income
