Automotive Service Warehouse
For Sale
Contact for pricing
1341 BLONDELL AVE, Bronx, NY 10461
Industrial warehouse built for collision and repair work, with multiple bays, office space, vehicle storage, and M1 zoning.
Property Size6,600 SF
Lot Size0.15 Acres
Price / SF$431.82
Days on Market90
Property Features for 1341 BLONDELL AVE
General Information
Standard status
Active
Size
6,600 SF
Lot size
0.15 Acres
Property subtype
Industrial
Zoning
M1
Lease Type
NNN
Additional Details
Business Included
Yes
Building Details
Year Built
1949
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Brix Real Estate Advisors
(914) 300-4444
Listed By:
Matthew Barbaccia
Source:
Crexi
Added: Jun 4
Changed: Aug 19
Last Checked: Aug 26 at 2:25PM
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 Brix Real Estate Advisors
Investment Insights
Based on property information with market context.
This well-configured industrial warehouse property is currently operating as an auto body and collision repair business. The building includes multiple service bays, office space, and dedicated vehicle storage, supported by on-site parking for day-to-day operations. The property sits on a small lot with a total building area of approximately 6,600 square feet.
Located at 1341 Blondell Ave in the Bronx, the site is suited to automotive and related service activity due to its service-bay layout and on-site parking. The property is offered for sale with the existing tenant operating in place.
For buyers, this is a practical fit for an owner-user who wants an industrial warehouse with automotive infrastructure already built into the site layout, including service bays and support space for staff and administration. It is also positioned for an investor looking at a property with an established operating use and the benefit of a long-term lease being sought by the current tenant. The property is zoned M1 for light manufacturing, which supports a range of automotive, service, and light manufacturing uses. With its combination of industrial configuration and automotive-focused improvements, the asset offers a straightforward platform for businesses in the maintenance, repair, or light industrial categories.
Located at 1341 Blondell Ave in the Bronx, the site is suited to automotive and related service activity due to its service-bay layout and on-site parking. The property is offered for sale with the existing tenant operating in place.
For buyers, this is a practical fit for an owner-user who wants an industrial warehouse with automotive infrastructure already built into the site layout, including service bays and support space for staff and administration. It is also positioned for an investor looking at a property with an established operating use and the benefit of a long-term lease being sought by the current tenant. The property is zoned M1 for light manufacturing, which supports a range of automotive, service, and light manufacturing uses. With its combination of industrial configuration and automotive-focused improvements, the asset offers a straightforward platform for businesses in the maintenance, repair, or light industrial categories.
Key Highlights
- 6,600 SF industrial warehouse on a ~6,750 SF lot, built in 1949
- Currently operating auto body and collision repair business; multiple service bays and vehicle storage
- Includes office space plus on‑site parking
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
$138,933
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
4.87%
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%
$2,778,660
$2.8M
Cap Rate 7%
$1,984,757
$2.0M
Cap Rate 9%
$1,543,700
$1.5M
Market Conditions
NOI Build-Up for 6,600 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
$221.8K $33.60/SF
− Vacancy
−$23.3K −$3.53/SF
EGI
$198.5K $30.07/SF
− OpEx
−$59.5K −$9.02/SF
NOI
$138.9K $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 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%
$2,778,660
Cap Rate 7%
$1,984,757
Cap Rate 9%
$1,543,700
Alternative Uses
Best Use
Warehouse
$4.57M
$4.00M – $5.34M
NOI $320,134 @ 7.0% cap · market cap 11.23%
Second Best
Industrial
$3.77M
$3.30M – $4.39M
NOI $263,639 @ 7.0% cap · market cap 9.25%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
4,835
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10461, NY
54,901
Population
20,418
Households
2.7
Avg Household Size
38
Median Age
27%
College-Educated
82%
High-School Grad
2.4 sq mi
ZIP Area
22,875
Density / Sq Mi
$65,023
Median Household Income
$45,445
Median Earnings
$1,741
Median Rent
$640,400
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Clancy-Cullen Moving & Storage Co., Inc. — 1155 Commerce Ave, Bronx, NY 10462
- GoodFriend Self Storage Zerega Avenue — 1320 Zerega Ave, Bronx, NY 10462
- Prime Storage — 1260 Zerega Ave, Bronx, NY 10462
- J Sutton and Co. Moving Services LLC — 1510 Castle Hill Ave #304, Bronx, NY 10462
- Downtown Self Storage Units — 2375 E Tremont Ave, The Bronx, NY 10462
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse built for collision and repair work, with multiple bays, office space, vehicle storage, and M1 zoning.
Where is this warehouse located?
The property is located at 1341 BLONDELL AVE Bronx, NY.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: 6,600 SF industrial warehouse on a ~6,750 SF lot, built in 1949; Currently operating auto body and collision repair business; multiple service bays and vehicle storage; Includes office space plus on‑site parking
