Four-Story Apartment
For Sale
$2,988,000
1761 Topping Avenue, Bronx, NY 10457
R7-1-zoned multifamily property with parking, gated outdoor areas, sprinklers, air conditioning, and three-phase power.
Property Size9,144 SF
Days on Market56
Property Features for 1761 Topping Avenue
General Information
Standard status
Active
Size
9,144 SF
Total Parking Spaces
6
Property subtype
Commercial
Zoning
R7-1
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Sprinkler System
Yes
Multifamily Units
10
Taxes and HOA fees
Annual Taxes
$2,677
Amenities
A/C
Building Details
Building Size
9,144 SF
Year Built
2024
Buildings
1
Stories
4
Units
10
Listing Agency:
All Island Estates Realty Corp
(516) 279-8828
Listed By:
Richard Matt Shane · License #10301216230
(516) 279-8828
Source:
Maurafinnegan
Added: Jul 6
Changed: Aug 28
Last Checked: Aug 29 at 10:20AM
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 All Island Estates Realty Corp
Investment Insights
Based on property information with market context.
This four-story apartment building contains 10 units and includes high 8-foot ceilings, sprinkler systems, air conditioning, and all-new LED lighting. The property also provides six parking spaces, a gated side yard, and a rear yard. Three-phase power supports the building’s electrical infrastructure, while R7-1 zoning establishes its documented land-use designation.
The property is located at 1761 Topping Avenue in the Bronx, near Grand Concourse and between I-95 and Webster Avenue. Nearby businesses and services identified in the property information include Yankee Stadium, Shell, Gulf, 7-Eleven, Dunkin’, Key Food, White Castle, and Western Beef.
A 485X tax abatement is identified through 2061. The property information also reports a 9.51% pro forma cap rate and two units marked available.
The property is located at 1761 Topping Avenue in the Bronx, near Grand Concourse and between I-95 and Webster Avenue. Nearby businesses and services identified in the property information include Yankee Stadium, Shell, Gulf, 7-Eleven, Dunkin’, Key Food, White Castle, and Western Beef.
A 485X tax abatement is identified through 2061. The property information also reports a 9.51% pro forma cap rate and two units marked available.
Key Highlights
- 10‑unit apartment building arranged across 4 stories
- R7‑1 zoning with a 485X tax abatement expiring in 2061
- Six parking spaces plus gated side and rear yards
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
$210,345
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
7.04%
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%
$4,206,900
$4.2M
Cap Rate 7%
$3,004,929
$3.0M
Cap Rate 9%
$2,337,167
$2.3M
Market Conditions
NOI Build-Up for 9,144 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
$406.0K $44.40/SF
− Vacancy
−$23.5K −$2.58/SF
EGI
$382.4K $41.82/SF
− OpEx
−$172.1K −$18.82/SF
NOI
$210.3K $23.00/SF
Area
Bronx, NY
Vacancy
5.80%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
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%
$4,206,900
Cap Rate 7%
$3,004,929
Cap Rate 9%
$2,337,167
Alternative Uses
Best Use
Apartment 5plus
$3.00M
$2.63M – $3.51M
NOI $210,345 @ 7.0% cap · market cap 7.04%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$6.34M
$5.54M – $7.39M
NOI $443,530 @ 7.0% cap · market cap 14.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
5,355
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?
Apartment building - R7-1-zoned multifamily property with parking, gated outdoor areas, sprinklers, air conditioning, and three-phase power.
Where is this apartment building located?
The property is located at 1761 Topping Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $2,988,000.
What are key features of this property?
This property features: 10‑unit apartment building arranged across 4 stories; R7‑1 zoning with a 485X tax abatement expiring in 2061; Six parking spaces plus gated side and rear yards
