Mixed-Use Building with
For Sale
$2,600,000
1406 White Plains Road, Bronx, NY 10462
Detached brick property combines residential apartments with a ground-floor commercial store.
Property Size4,150 SF
Price / SF$626.51
Days on Market214
Property Features for 1406 White Plains Road
General Information
Standard status
Active
Size
4,150 SF
Property subtype
Commercial
Zoning
R6
Taxes and HOA fees
Annual Taxes
$16,518
Building Details
Building Size
4,150 SF
Year Built
1920
Buildings
1
Stories
3
Units
5
Construction
brick
Tenancy
Multi
Listing Agency:
Exit Realty Premium
(646) 696-1563
Listed By:
Anthony A. Domathoti
(646) 696-1563
Source:
Callexitfirst
Added: Jan 27
Changed: Aug 29
Last Checked: Aug 25 at 9:10AM
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 Exit Realty Premium
Investment Insights
Based on property information with market context.
This detached brick mixed-use building contains four residential apartments and a ground-floor commercial retail unit. The residential configuration includes two 3-bedroom apartments and two 1-bedroom apartments, providing a blend of unit sizes within the building. The property has approximately 4,150 SF of gross floor area, R6 zoning, and brand-new fire escape stairs. Paying tenants are in place across the residential and commercial components.
Positioned on White Plains Road, the property is near Hugh J. Grant Circle, Parkchester, and the 6 Train. The building dates to 1920 and combines an established residential layout with street-level commercial space in a Bronx corridor setting.
Positioned on White Plains Road, the property is near Hugh J. Grant Circle, Parkchester, and the 6 Train. The building dates to 1920 and combines an established residential layout with street-level commercial space in a Bronx corridor setting.
Key Highlights
- Four residential units: two 3‑bedroom apartments and two 1‑bedroom apartments
- Ground‑floor commercial retail unit with paying tenants
- Approximately 4,150 SF of gross floor area
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
$100,773
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
3.88%
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%
$2,015,460
$2.0M
Cap Rate 7%
$1,439,614
$1.4M
Cap Rate 9%
$1,119,700
$1.1M
Market Conditions
NOI Build-Up for 4,150 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
$151.9K $36.60/SF
− Vacancy
−$7.9K −$1.91/SF
EGI
$144.0K $34.69/SF
− OpEx
−$43.2K −$10.41/SF
NOI
$100.8K $24.28/SF
Area
ZIP 10462
Vacancy
5.22%
Lease Rate
$36.60 /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%
$2,015,460
Cap Rate 7%
$1,439,614
Cap Rate 9%
$1,119,700
Alternative Uses
Best Use
Multifamily LT 5
$1.44M
$1.26M – $1.68M
NOI $100,773 @ 7.0% cap · market cap 3.88%
Second Best
Apartment 5plus
$1.28M
$1.12M – $1.50M
NOI $89,816 @ 7.0% cap · market cap 3.45%
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,611 @ 7.0% cap · market cap 5.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,830
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Detached brick property combines residential apartments with a ground-floor commercial store.
Where is this mixed-use property located?
The property is located at 1406 White Plains Road Bronx, NY.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Four residential units: two 3‑bedroom apartments and two 1‑bedroom apartments; Ground‑floor commercial retail unit with paying tenants; Approximately 4,150 SF of gross floor area
