Freestanding Single-Story Industrial
For Sale
$1,295,000
1660 E 233rd Street, Bronx, NY 10466
Freestanding single-story industrial building on a secure, fenced lot with M3-1 zoning and clear-span workspace.
Property Size1,962 SF
Days on Market63
Property Features for 1660 E 233rd Street
General Information
Standard status
Active
Size
1,962 SF
Class
C
Property subtype
Commercial
Zoning
M3-1
Taxes and HOA fees
Annual Taxes
$13,986
Building Details
Building Size
1,962 SF
Year Built
1962
Buildings
1
Stories
1
Units
1
Listing Agency:
Iconik Residential LLC
(914) 391-3984
Listed By:
David Cebel
(914) 391-3984
Source:
Cohenandcohenrealty
Added: Jun 22
Changed: Aug 23
Last Checked: Aug 22 at 11:42AM
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 Iconik Residential LLC
Investment Insights
Based on property information with market context.
1660 E 233rd St offers a freestanding, single-story industrial facility totaling 1,962 square feet, situated on a secure 9,157 square foot lot. The building is described as providing functional clear-span workspace, along with fenced staging and fleet parking areas, supporting heavier day-to-day operational needs.
The property is noted as having heavy-use M3-1 zoning with a 2.0 Floor Area Ratio (FAR). The site is positioned for an immediate owner-user operation or for a higher-density, vertical industrial expansion, with buildable space identified as up to about 18,314 total square feet. Public remarks also indicate immediate access to major highways.
The property is noted as having heavy-use M3-1 zoning with a 2.0 Floor Area Ratio (FAR). The site is positioned for an immediate owner-user operation or for a higher-density, vertical industrial expansion, with buildable space identified as up to about 18,314 total square feet. Public remarks also indicate immediate access to major highways.
Key Highlights
- Freestanding, single‑story 1,962 SF commercial/industrial facility at 1660 East 233rd Street
- On a 9,157 SF secure lot with fenced staging and fleet parking areas
- M3‑1 zoning with 2.0 FAR for an owner‑user operation or vertical industrial expansion
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
$95,167
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
7.35%
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%
$1,903,340
$1.9M
Cap Rate 7%
$1,359,529
$1.4M
Cap Rate 9%
$1,057,411
$1.1M
Market Conditions
NOI Build-Up for 1,962 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
$122.4K $62.40/SF
− Vacancy
−$10.5K −$5.34/SF
EGI
$112.0K $57.06/SF
− OpEx
−$16.8K −$8.56/SF
NOI
$95.2K $48.51/SF
Area
Bronx, NY
Vacancy
8.55%
Lease Rate
$62.40 /SF/Yr
Expense Ratio
15.00%
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%
$1,903,340
Cap Rate 7%
$1,359,529
Cap Rate 9%
$1,057,411
Alternative Uses
Best Use
Warehouse
$1.36M
$1.19M – $1.59M
NOI $95,167 @ 7.0% cap · market cap 7.35%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,246
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 10466, NY
70,420
Population
26,303
Households
2.7
Avg Household Size
38
Median Age
26%
College-Educated
81%
High-School Grad
2.0 sq mi
ZIP Area
35,210
Density / Sq Mi
$66,328
Median Household Income
$44,053
Median Earnings
$1,528
Median Rent
$605,300
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Stop and Stor Co-op City / Eastchester — 2385 Hollers Ave, Bronx, NY 10475
- Life Storage - Bronx — 2325 Hollers Ave, Bronx, NY 10475
- Cubesmart — Bronx, NY 10475
- CubeSmart Self Storage — 2301 Tillotson Ave, Bronx, NY 10475
- Extra Space Storage — 3450 Baychester Ave, Bronx, NY 10475
Frequently Asked Questions
What type of property is this?
Warehouse - Freestanding single-story industrial building on a secure, fenced lot with M3-1 zoning and clear-span workspace.
Where is this warehouse located?
The property is located at 1660 E 233rd Street Bronx, NY.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Freestanding, single‑story 1,962 SF commercial/industrial facility at 1660 East 233rd Street; On a 9,157 SF secure lot with fenced staging and fleet parking areas; M3‑1 zoning with 2.0 FAR for an owner‑user operation or vertical industrial expansion
