Building Details

Year Built 1963

Buildings 1

Building Size 14,420 SF

Tenancy Multi

Listing Agency: Today Realty Corp Show Phone

Listed By: Vincent Buccieri (vincetodayrealty@aol.com) · License #10301203112 Show Phone

Source: Mikecarrollsellshomes

Added: Oct 9 Changed: Oct 10 Last Checked: Oct 12 at 7:20PM

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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 Today Realty Corp

Investment Insights

Based on property information with market context.

This mixed-use property contains 21 units across 14,420 square feet of building space. Its current configuration includes an operating medical and dental office, with a private driveway that accommodates parking for up to 4 cars. The building was constructed in 1963.

The property is in Pelham Bay in the Bronx, on a corner lot at 1821 Mahan Ave. Its Walk Score is 70, rated Very Walkable; Transit Score is 91, rated Rider's Paradise; and Bike Score is 62, rated Bikeable.

Key Highlights

• 21‑unit mixed‑use property with 14,420 square feet of building space
• Operating medical and dental office
• Private driveway parking for up to 4 cars

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$299,013

Cap Rate

8.54%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,980,260 $6.0M

Cap Rate 7%

$4,271,614 $4.3M

Cap Rate 9%

$3,322,367 $3.3M

Market Conditions

NOI Build-Up for 14,420 SF

Gross rent

$553.7K $38.40/SF

− Vacancy

−$55.4K −$3.84/SF

EGI

$498.4K $34.56/SF

− OpEx

−$199.3K −$13.82/SF

NOI

$299.0K $20.74/SF

Area

Bronx, NY

Vacancy

10.00%

Lease Rate

$38.40 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,980,260

Cap Rate 7%

$4,271,614

Cap Rate 9%

$3,322,367

Alternative Uses

Best Use

Office B

$5.16M

$4.51M – $6.02M (±1% cap)

NOI $361,113 @ 7.0% cap · market cap 10.32%

Second Best

Apartment 5plus

$4.74M

$4.15M – $5.53M (±1% cap)

NOI $331,712 @ 7.0% cap · market cap 9.48%

Theoretical Best

Warehouse

$9.99M

$8.74M – $11.66M (±1% cap)

NOI $699,443 @ 7.0% cap · market cap 19.98%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Beautiful Smiles: Kim ... Dental Office

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Clothing & Fashion Store Parking Lot & Garage Tech Support Center Travel Agency Bed & Breakfast

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

21

Residential units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

2,148

Businesses Nearby

Explore this area Business Placement

Demographics for 10461, NY

54,901

Population

20,418

Households

2.7

Avg Household Size

38

Median Age

27%

College-Educated

82%

High-School Grad

2.4 sq mi

ZIP Area

22,875

Density / Sq Mi

$65,023

Median Household Income

$45,445

Median Earnings

$1,741

Median Rent

$640,400

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - The property includes an operating medical and dental office alongside residential units.

Where is this mixed-use property located?

The property is located at 1821 Mahan Avenue Bronx, NY.

What is the asking price?

The asking price for this property is $3,500,000.

What are key features of this property?

This property features: 21‑unit mixed‑use property with 14,420 square feet of building space; Operating medical and dental office; Private driveway parking for up to 4 cars