Residential Income Property with
For Sale
$375,000
2400 JOHNSON Avenue 10C, Bronx, NY 10463
A 10th-floor cooperative apartment offers an open layout, river views, and access to full-service building amenities.
Property Size950 SF
Price / SF$394.74
Days on Market503
Property Features for 2400 JOHNSON Avenue 10C
General Information
Standard status
Active
Size
950 SF
Elevators
No
Property subtype
Apartment
Site & Location
Highway Access
No
Road Access
No
Public Transit
No
Utilities to Site
No
Additional Details
Furnished
No
Opportunity Zone
No
Sprinkler System
No
Building Details
Building Size
950 SF
Year Built
1969
Listing Agency:
Douglas Elliman Real Estate
(917) 449-0181
Listed By:
Richard A Balzano · License #30BA1011276
(917) 449-0181
Source:
Howardhannanyc
Added: Mar 28, 2025
Changed: Aug 11
Last Checked: Aug 12 at 2:07PM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This 10th-floor cooperative apartment at The Blue Building features an open floor plan, a large foyer with three deep closets, and a spacious living area with more than 15 feet of glass cabinetry. The dining area connects to an expanded open kitchen with substantial storage and broad countertops. A bedroom with dedicated wardrobe and linen storage leads to an enlarged bathroom with river rock flooring and built-in storage. A private terrace provides views toward the city, Hudson River, Harlem River, Palisades, and surrounding parks, along with sunset views.
The 13-story, 130-unit building offers full-service cooperative amenities, including a full-time doorman, laundry facilities on every floor, direct indoor parking-garage access, wall storage units, and a restored indoor swimming pool. The property allows one pet with board approval. Metro-North service from Spuyten Duyvil station, express buses to Manhattan, the #1 subway, and local bus routes provide transportation connections.
The 13-story, 130-unit building offers full-service cooperative amenities, including a full-time doorman, laundry facilities on every floor, direct indoor parking-garage access, wall storage units, and a restored indoor swimming pool. The property allows one pet with board approval. Metro-North service from Spuyten Duyvil station, express buses to Manhattan, the #1 subway, and local bus routes provide transportation connections.
Key Highlights
- 10th‑floor cooperative apartment with open floor plan and private terrace
- River, city, park, Palisades, and sunset views
- 13‑story, 130‑unit full‑service cooperative building
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
$21,853
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
5.83%
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%
$437,060
$437.1K
Cap Rate 7%
$312,186
$312.2K
Cap Rate 9%
$242,811
$242.8K
Market Conditions
NOI Build-Up for 950 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
$42.2K $44.40/SF
− Vacancy
−$2.4K −$2.58/SF
EGI
$39.7K $41.82/SF
− OpEx
−$17.9K −$18.82/SF
NOI
$21.9K $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%
$437,060
Cap Rate 7%
$312,186
Cap Rate 9%
$242,811
Alternative Uses
Best Use
Apartment 5plus
$312.2K
$273.2K – $364.2K
NOI $21,853 @ 7.0% cap · market cap 5.83%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$658.3K
$576.0K – $768.0K
NOI $46,080 @ 7.0% cap · market cap 12.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,285
Businesses Nearby
Explore this area
Business Placement
Demographics for 10463, NY
71,301
Population
30,602
Households
2.3
Avg Household Size
41
Median Age
44%
College-Educated
85%
High-School Grad
2.8 sq mi
ZIP Area
25,465
Density / Sq Mi
$72,952
Median Household Income
$48,409
Median Earnings
$1,611
Median Rent
$352,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - A 10th-floor cooperative apartment offers an open layout, river views, and access to full-service building amenities.
Where is this residential income property located?
The property is located at 2400 JOHNSON Avenue 10C Bronx, NY.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 10th‑floor cooperative apartment with open floor plan and private terrace; River, city, park, Palisades, and sunset views; 13‑story, 130‑unit full‑service cooperative building
