Six-Unit Mixed-Use
For Sale
$2,100,000
1248 Castle Hill Avenue, Bronx, NY 10462
Three commercial and three residential units combine in a multifaceted property along Castle Hill Avenue in the Bronx.
Property Size3,600 SF
Price / SF$583.33
Days on Market1461
Property Features for 1248 Castle Hill Avenue
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR, 1 x 1BR
Multifamily Units
3
Additional Details
Cap Rate
5.1%
Taxes and HOA fees
Annual Taxes
$20,821
Amenities
No, No, On Street
Corner Lot, Corner Lot, Square Feet
Public, See Remarks
3600
No Common Walls
Square Feet
No
Brick
On Street, Corner Lot
Building Details
Year Built
1925
Buildings
1
Tenancy
Multi
Listing Agency:
Cohen and Cohen Consulting
Listed By:
Noel P. Cohen · License #10311205279
(917) 962-4962
Source:
Compass
Added: Oct 19, 2022
Changed: Oct 16
Last Checked: Oct 16 at 11:26AM
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 Cohen and Cohen Consulting
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Investment Insights
Based on property information with market context.
Built in 1925, this 3,600-square-foot mixed-use property at 1248 Castle Hill Ave includes six units divided evenly between commercial and residential space. The residential component comprises two two-bedroom apartments and one one-bedroom apartment. Commercial occupancy includes a Guyanese restaurant, a beauty salon, and a security office serving local customers.
The property is positioned in the Castle Hill and Parkchester area of the Bronx, with the commercial spaces described as fully operational. The offering is presented without leases in place, providing a combination of existing commercial activity and residential unit mix within an R5-zoned building.
The property is positioned in the Castle Hill and Parkchester area of the Bronx, with the commercial spaces described as fully operational. The offering is presented without leases in place, providing a combination of existing commercial activity and residential unit mix within an R5-zoned building.
Key Highlights
- Six units: three commercial and three residential
- 3,600 SF mixed‑use building constructed in 1925
- Residential mix includes two two‑bedroom units and one one‑bedroom unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,913
Cap Rate
3.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,558,260
$1.6M
Cap Rate 7%
$1,113,043
$1.1M
Cap Rate 9%
$865,700
$865.7K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$149.9K $41.64/SF
− Vacancy
−$8.2K −$2.29/SF
EGI
$141.7K $39.35/SF
− OpEx
−$63.7K −$17.71/SF
NOI
$77.9K $21.64/SF
Area
ZIP 10462
Vacancy
5.50%
Lease Rate
$41.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,558,260
Cap Rate 7%
$1,113,043
Cap Rate 9%
$865,700
Alternative Uses
Best Use
Apartment 5plus
$1.11M
$973.9K – $1.30M
NOI $77,913 @ 7.0% cap · market cap 3.71%
Second Best
Specialty Retail
$1.06M
$929.5K – $1.24M
NOI $74,358 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$1.72M
$1.50M – $2.00M
NOI $120,241 @ 7.0% cap · market cap 5.73%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,174
Businesses Nearby
Explore this area
Business Placement
Demographics for 10462, NY
84,655
Population
31,828
Households
2.7
Avg Household Size
37
Median Age
28%
College-Educated
83%
High-School Grad
1.5 sq mi
ZIP Area
56,437
Density / Sq Mi
$63,460
Median Household Income
$42,383
Median Earnings
$1,711
Median Rent
$372,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three commercial and three residential units combine in a multifaceted property along Castle Hill Avenue in the Bronx.
Where is this mixed-use property located?
The property is located at 1248 Castle Hill Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Six units: three commercial and three residential; 3,600 SF mixed‑use building constructed in 1925; Residential mix includes two two‑bedroom units and one one‑bedroom unit
