Redevelopment Opportunity with Income
For Sale
$2,200,000
1927 Gildersleeve The, Bronx, NY 10473
Commercial property with redevelopment potential and income-generating vacant land.
Property Size2,500 SF
Lot Size0.36 Acres
Days on Market278
Property Features for 1927 Gildersleeve The
General Information
Standard status
Active
Size
2,500 SF
Lot size
0.36 Acres
Property subtype
Commercial
Building Details
Building Size
2,500 SF
Listing Agency:
eXp Realty
Listed By:
Mohamed S. Ally · License #10401326226
(917) 582-1920
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 22
Last Checked: Sep 1 at 8:50PM
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 eXp Realty
Investment Insights
Based on property information with market context.
This property offers an investment opportunity with redevelopment potential. The existing structure could be demolished to allow for a larger building. The large vacant lot is currently rented and generating income.
Key Highlights
- Large vacant lot
- Income‑generating vacant lot: Currently rented and producing strong income
- Redevelopment potential: Option to demolish and build a larger structure
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
$99,863
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
4.54%
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%
$1,997,260
$2.0M
Cap Rate 7%
$1,426,614
$1.4M
Cap Rate 9%
$1,109,589
$1.1M
Market Conditions
NOI Build-Up for 2,500 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
$156.0K $62.40/SF
− Vacancy
−$13.3K −$5.34/SF
EGI
$142.7K $57.06/SF
− OpEx
−$42.8K −$17.12/SF
NOI
$99.9K $39.95/SF
Area
Bronx, NY
Vacancy
8.55%
Lease Rate
$62.40 /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%
$1,997,260
Cap Rate 7%
$1,426,614
Cap Rate 9%
$1,109,589
Alternative Uses
Best Use
Industrial
$1.43M
$1.25M – $1.66M
NOI $99,863 @ 7.0% cap · market cap 4.54%
Second Best
Retail
$751.8K
$657.8K – $877.1K
NOI $52,626 @ 7.0% cap · market cap 2.39%
Theoretical Best
Warehouse
$1.73M
$1.52M – $2.02M
NOI $121,263 @ 7.0% cap · market cap 5.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,363
Businesses Nearby
321k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 35%
Groceries 34%
Shops & Services 16%
Dining 15%
ShopRite
Groceries
64,971 visits/mo
0.5 miles
Burlington
Apparel
47,967 visits/mo
0.4 miles
Five Below
Shops & Services
31,620 visits/mo
0.3 miles
Aldi
Groceries
25,104 visits/mo
0.3 miles
Marshalls
Apparel
21,599 visits/mo
0.4 miles
Demographics for 10473, NY
62,692
Population
23,234
Households
2.7
Avg Household Size
38
Median Age
24%
College-Educated
75%
High-School Grad
2.1 sq mi
ZIP Area
29,853
Density / Sq Mi
$50,609
Median Household Income
$40,049
Median Earnings
$1,131
Median Rent
$586,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Commercial property with redevelopment potential and income-generating vacant land.
Where is this commercial land located?
The property is located at 1927 Gildersleeve The Bronx, NY.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Large vacant lot; Income‑generating vacant lot: Currently rented and producing strong income; Redevelopment potential: Option to demolish and build a larger structure
