Building Details

Year Built 1910

Buildings 1

Stories 2

Tenancy Multi

Listing Agency: Direct Choice Realty

Listed By: Cecilia Norbert · License #10491208196 Show Phone

Source: Compass

Added: Nov 5, 2022 Changed: Oct 15 Last Checked: Oct 16 at 10:33AM

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Investment Insights

Based on property information with market context.

Built in 1910, this 2,500-square-foot mixed-use building combines commercial and residential components. The main level contains two storefront spaces identified as 267 and 269, while the upper floor includes a two-bedroom apartment with a living area and kitchen. Ceramic tile and combination flooring are present within the property.

The building is located at 269-267 City Island Avenue in the Bronx, within City Island. Parks, marinas, dining options, arts venues, and antique stores are described in the surrounding area, adding a range of nearby neighborhood amenities to the property’s mixed-use setting.

Key Highlights

• 2,500‑square‑foot mixed‑use building constructed in 1910
• Two main‑level storefront spaces identified as 267 and 269
• Upper‑floor two‑bedroom apartment

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$52,626

Cap Rate

4.39%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,052,520 $1.1M

Cap Rate 7%

$751,800 $751.8K

Cap Rate 9%

$584,733 $584.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,500 SF

Gross rent

$84.0K $33.60/SF

− Vacancy

−$8.8K −$3.53/SF

EGI

$75.2K $30.07/SF

− OpEx

−$22.6K −$9.02/SF

NOI

$52.6K $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 Rate 5%

$1,052,520

Cap Rate 7%

$751,800

Cap Rate 9%

$584,733

Alternative Uses

Best Use

Retail

$751.8K

$657.8K – $877.1K (±1% cap)

NOI $52,626 @ 7.0% cap · market cap 4.39%

Second Best

Mixed Use

$715.2K

$625.8K – $834.4K (±1% cap)

NOI $50,063 @ 7.0% cap · market cap 4.17%

Theoretical Best

Warehouse

$1.73M

$1.52M – $2.02M (±1% cap)

NOI $121,263 @ 7.0% cap · market cap 10.11%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Law Firm Dental Office Hair Salon HVAC Service Skin Care Clinic Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

415

Businesses Nearby

11k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 59% Groceries 41%

Sunoco Shops & Services

4,428 visits/mo 0.2 miles

C-Town Supermarkets Groceries

4,394 visits/mo 0.2 miles

Chase Bank Shops & Services

1,826 visits/mo 0.2 miles

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

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Two ground-floor commercial spaces accompany an upper-level two-bedroom residential unit.

Where is this mixed-use property located?

The property is located at 269-267 City Island Avenue Bronx, NY.

What is the asking price?

The asking price for this property is $1,200,000.

What are key features of this property?

This property features: 2,500‑square‑foot mixed‑use building constructed in 1910; Two main‑level storefront spaces identified as 267 and 269; Upper‑floor two‑bedroom apartment