Two-Story Mixed-Use
For Sale
$950,000
229 City Island Ave, Bronx, NY 10464
Two residential units accompany a ground-level retail component in a compact commercial and residential property.
Property Size2,250 SF
Lot Size0.05 Acres
Price / SF$422.22
Days on Market59
Property Features for 229 City Island Ave
General Information
Standard status
Active
Size
2,250 SF
Lot size
0.05 Acres
Property subtype
Mixed Use
Additional Details
Road Access
Yes
Multifamily Units
2
Building Details
Building Size
2,250 SF
Year Built
1900
Buildings
1
Stories
2
Units
2
Listing Agency:
Northgate Real Estate Group
Listed By:
Chaya Milworn · License #10401268555
Source:
Commercialcafe
Added: Aug 8
Changed: Oct 5
Last Checked: Oct 5 at 3:25PM
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 Northgate Real Estate Group
Investment Insights
Based on property information with market context.
Located at 229 City Island Avenue, this two-story mixed-use property combines two residential units with one retail space. The building contains 2,250 square feet on a 35-foot by 61-foot lot and was built in 1900, offering a straightforward combination of income-producing residential and commercial components.
The property sits along City Island Avenue amid restaurants, boutique shops, art galleries, marina facilities, yacht clubs, boat rentals, and waterfront parks. Nearby destinations include City Island Diner, Lickety Split, Little Greece, The Black Whale, and City Island Marina. The surrounding area draws local residents, tourists, and boaters, while 38% of City Island residents earn more than $150,000 annually.
The property sits along City Island Avenue amid restaurants, boutique shops, art galleries, marina facilities, yacht clubs, boat rentals, and waterfront parks. Nearby destinations include City Island Diner, Lickety Split, Little Greece, The Black Whale, and City Island Marina. The surrounding area draws local residents, tourists, and boaters, while 38% of City Island residents earn more than $150,000 annually.
Key Highlights
- Two‑story mixed‑use building with 2 residential units and 1 retail space
- 2,250 square feet on a 35 ft x 61 ft lot
- Located at 229 City Island Avenue in the Bronx
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,758
Cap Rate
5.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,035,160
$1.0M
Cap Rate 7%
$739,400
$739.4K
Cap Rate 9%
$575,089
$575.1K
Market Conditions
NOI Build-Up for 2,250 SF
Gross rent
$99.9K $44.40/SF
− Vacancy
−$5.8K −$2.58/SF
EGI
$94.1K $41.82/SF
− OpEx
−$42.3K −$18.82/SF
NOI
$51.8K $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 Rate 5%
$1,035,160
Cap Rate 7%
$739,400
Cap Rate 9%
$575,089
Alternative Uses
Best Use
Apartment 5plus
$739.4K
$647.0K – $862.6K
NOI $51,758 @ 7.0% cap · market cap 5.45%
Second Best
Retail
$676.6K
$592.0K – $789.4K
NOI $47,363 @ 7.0% cap · market cap 4.99%
Theoretical Best
Warehouse
$1.56M
$1.36M – $1.82M
NOI $109,136 @ 7.0% cap · market cap 11.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
369
Businesses Nearby
Explore this area
Business Placement
Demographics for 10464, NY
4,592
Population
2,255
Households
2
Avg Household Size
50
Median Age
46%
College-Educated
94%
High-School Grad
3.1 sq mi
ZIP Area
1,481
Density / Sq Mi
$100,306
Median Household Income
$70,148
Median Earnings
$1,993
Median Rent
$667,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two residential units accompany a ground-level retail component in a compact commercial and residential property.
Where is this mixed-use property located?
The property is located at 229 City Island Ave Bronx, NY.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Two‑story mixed‑use building with 2 residential units and 1 retail space; 2,250 square feet on a 35 ft x 61 ft lot; Located at 229 City Island Avenue in the Bronx
