Mixed-Use Building with Medical
New
For Sale
$1,680,000
2000 Tillotson Ave The, Bronx, NY 10475
Three apartments are combined with a separately accessed medical suite and finished basement space.
Property Size4,500 SF
Lot Size0.10 Acres
Price / SF$373.33
Days on Market4
Property Features for 2000 Tillotson Ave The
General Information
Standard status
Active
Size
4,500 SF
Total Parking Spaces
5
Lot size
0.10 Acres
Property subtype
Investment
Units
Unit Mix
2 x 1BR/1BA, 1 x 3BR/1.5BA
Multifamily Units
3
Office Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$14,074
Building Details
Building Size
4,500 SF
Year Built
1990
Buildings
1
Stories
3
Units
4
Listed By:
Iris Ong
(917) 515-5266
Source:
Elliman
Added: Sep 28
Last Checked: Oct 1 at 11:14AM
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 Iris Ong
Investment Insights
Based on property information with market context.
The approximately 4,500 SF building combines a ground-floor medical office with three apartments on the upper floors. The office has a separate entrance, three exam rooms, a private office, front desk, waiting room, two restrooms, and a sink station. The finished basement contains two rooms, two restrooms, a kitchen area, and additional flexible space. On the second floor are two one-bedroom, one-bath apartments; the third floor has a three-bedroom, one-and-a-half-bath apartment. The property occupies a 42x100 corner lot and has private parking for approximately five cars.
The building is a three-minute walk from the 5 train. Hospitals, schools, shopping, public transportation, and major roadways are also identified as accessible from the property.
The building is a three-minute walk from the 5 train. Hospitals, schools, shopping, public transportation, and major roadways are also identified as accessible from the property.
Key Highlights
- Ground‑floor medical suite with three exam rooms and separate entrance
- Three upper‑floor apartments: two one‑bedroom units and one three‑bedroom unit
- Approximately 4,500 SF above‑grade building on a 42x100 corner lot
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
$112,691
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
6.71%
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%
$2,253,820
$2.3M
Cap Rate 7%
$1,609,871
$1.6M
Cap Rate 9%
$1,252,122
$1.3M
Market Conditions
NOI Build-Up for 4,500 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
$189.0K $42.00/SF
− Vacancy
−$38.7K −$8.61/SF
EGI
$150.3K $33.39/SF
− OpEx
−$37.6K −$8.35/SF
NOI
$112.7K $25.04/SF
Area
Bronx, NY
Vacancy
20.50%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,253,820
Cap Rate 7%
$1,609,871
Cap Rate 9%
$1,252,122
Alternative Uses
Best Use
Office B
$1.61M
$1.41M – $1.88M
NOI $112,691 @ 7.0% cap · market cap 6.71%
Second Best
Apartment 5plus
$1.48M
$1.29M – $1.73M
NOI $103,516 @ 7.0% cap · market cap 6.16%
Theoretical Best
Warehouse
$3.12M
$2.73M – $3.64M
NOI $218,273 @ 7.0% cap · market cap 12.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Office units
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,707
Businesses Nearby
Explore this area
Business Placement
Demographics for 10475, NY
42,609
Population
19,333
Households
2.2
Avg Household Size
49
Median Age
28%
College-Educated
86%
High-School Grad
1.2 sq mi
ZIP Area
35,508
Density / Sq Mi
$62,383
Median Household Income
$46,476
Median Earnings
$1,221
Median Rent
$31,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three apartments are combined with a separately accessed medical suite and finished basement space.
Where is this mixed-use property located?
The property is located at 2000 Tillotson Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $1,680,000.
What are key features of this property?
This property features: Ground‑floor medical suite with three exam rooms and separate entrance; Three upper‑floor apartments: two one‑bedroom units and one three‑bedroom unit; Approximately 4,500 SF above‑grade building on a 42x100 corner lot
