Mixed-Use Property with
For Sale
$1,300,000
1688 Webster Avenue Bronx, Ny, NY 10457
Three apartments accompany vacant commercial space and a full-length lower-level storage area.
Property Size3,750 SF
Price / SF$346.67
Days on Market126
Property Features for 1688 Webster Avenue Bronx
General Information
Standard status
Active
Size
3,750 SF
Zoning
M1-1
Additional Details
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,270
Amenities
1
No
Public
3750
Public Maintained Road
Building Details
Building Size
3,750 SF
Buildings
1
Stories
1
Listing Agency:
(718) 684-8000
Listed By:
Andrew Boodhoo
(718) 684-8000
Source:
Parkassets
Added: Apr 28
Changed: Aug 30
Last Checked: Aug 30 at 1:01PM
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 Andrew Boodhoo
Investment Insights
Based on property information with market context.
This mixed-use property combines three residential apartments with a separate commercial area. Two apartments are currently occupied by voucher tenants, while the commercial space is vacant and ready for occupancy. A full lower-level storage area extends the length of the unit, adding substantial supplemental storage to the building.
Formerly used as a church, the commercial portion has a flexible layout that can be adapted for several business and community-oriented concepts identified in the property information, including restaurant, medical, office, retail, and community facility uses. The property is located at 1688 Webster Ave in The Bronx, with convenient access to major highways and transportation routes. WalkScore is 84, BikeScore is 66, and TransitScore is 100.
Formerly used as a church, the commercial portion has a flexible layout that can be adapted for several business and community-oriented concepts identified in the property information, including restaurant, medical, office, retail, and community facility uses. The property is located at 1688 Webster Ave in The Bronx, with convenient access to major highways and transportation routes. WalkScore is 84, BikeScore is 66, and TransitScore is 100.
Key Highlights
- Three residential apartments; two are rented with vouchers
- Vacant commercial space available for occupancy
- Full lower‑level storage area spans the length of the unit
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
$119,531
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
9.19%
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%
$2,390,620
$2.4M
Cap Rate 7%
$1,707,586
$1.7M
Cap Rate 9%
$1,328,122
$1.3M
Market Conditions
NOI Build-Up for 3,750 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
$225.0K $60.00/SF
− Vacancy
−$33.8K −$9.00/SF
EGI
$191.3K $51.00/SF
− OpEx
−$71.7K −$19.13/SF
NOI
$119.5K $31.88/SF
Area
New York, NY
Vacancy
15.00%
Lease Rate
$60.00 /SF/Yr
Expense Ratio
37.50%
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%
$2,390,620
Cap Rate 7%
$1,707,586
Cap Rate 9%
$1,328,122
Alternative Uses
Best Use
Retail
$7.54M
$6.60M – $8.80M
NOI $527,717 @ 7.0% cap · market cap 40.59%
Second Best
Mixed Use
$1.71M
$1.49M – $1.99M
NOI $119,531 @ 7.0% cap · market cap 9.19%
Theoretical Best
Specialty Retail
$9.33M
$8.17M – $10.89M
NOI $653,400 @ 7.0% cap · market cap 50.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,475
Businesses Nearby
Explore this area
Business Placement
Demographics for 10457, NY
77,488
Population
27,795
Households
2.8
Avg Household Size
33
Median Age
15%
College-Educated
70%
High-School Grad
1.3 sq mi
ZIP Area
59,606
Density / Sq Mi
$44,911
Median Household Income
$30,564
Median Earnings
$1,400
Median Rent
$336,900
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 - Three apartments accompany vacant commercial space and a full-length lower-level storage area.
Where is this mixed-use property located?
The property is located at 1688 Webster Avenue Bronx Ny, NY.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Three residential apartments; two are rented with vouchers; Vacant commercial space available for occupancy; Full lower‑level storage area spans the length of the unit
