Vacant Bronx Warehouse with Redevelopment
For Sale
Contact for pricing
2114 Arthur Avenue, Bronx, NY 10457
Single-story warehouse in the Bronx with residential redevelopment upside.
Property Size2,267 SF
Lot Size0.06 Acres
Price / SF$518.31
Days on Market146
Property Features for 2114 Arthur Avenue
General Information
Standard status
Active
Size
2,267 SF
Lot size
0.06 Acres
Property subtype
Industrial
Zoning
R7-1
Investment Type
Owner/User
Building Details
Year Built
1961
Stories
1
Listing Agency:
FIND Real Estate
Listed By:
Yaniv Grinberg · License #NY #10401359296
Source:
Crexi
Added: Mar 17
Changed: Aug 8
Last Checked: Jul 15 at 1:49PM
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 FIND Real Estate
Investment Insights
Based on property information with market context.
This is a single-story, vacant warehouse located in the Belmont section of the Bronx. The property, built in 1961, consists of approximately 2,267 square feet on a 25’ x 92.5’ lot. It features 14-foot ceilings and a drive-in loading door. The existing building has a Certificate of Occupancy permitting factory and office use. The property has been continuously occupied and maintains legal nonconforming status for its industrial use. The building offers a functional rectangular footprint with clear-span interior space and polished concrete flooring. The drive-in loading configuration allows direct vehicle access into the warehouse. The existing office area provides administrative capability within the same footprint. Located within an R7-1 zoning district, the site presents long-term residential redevelopment potential subject to architect and zoning analysis. Approximate Residential FAR: 3.44 Estimated Buildable SF: ±7,955 SF. Arthur Avenue is located in the Belmont / East Tremont section of the Bronx. The surrounding area supports a mix of residential density and active commercial corridors. This central Bronx location provides access to major transportation routes serving Manhattan, Westchester, and the broader tri-state area.
Key Highlights
- Vacant single‑story warehouse: Enables immediate occupancy for owner‑users.
- R7‑1 zoning: Presents long‑term residential redevelopment potential.
- 14‑foot ceilings and drive‑in loading door: Facilitates efficient warehouse operations.
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
$90,556
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
7.71%
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%
$1,811,120
$1.8M
Cap Rate 7%
$1,293,657
$1.3M
Cap Rate 9%
$1,006,178
$1.0M
Market Conditions
NOI Build-Up for 2,267 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
$141.5K $62.40/SF
− Vacancy
−$12.1K −$5.34/SF
EGI
$129.4K $57.06/SF
− OpEx
−$38.8K −$17.12/SF
NOI
$90.6K $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%
$1,811,120
Cap Rate 7%
$1,293,657
Cap Rate 9%
$1,006,178
Alternative Uses
Best Use
Warehouse
$1.57M
$1.37M – $1.83M
NOI $109,961 @ 7.0% cap · market cap 9.36%
Second Best
Industrial
$1.29M
$1.13M – $1.51M
NOI $90,556 @ 7.0% cap · market cap 7.71%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,558
Businesses Nearby
Under-served
Demand for This Use
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Single-story warehouse in the Bronx with residential redevelopment upside.
Where is this warehouse located?
The property is located at 2114 Arthur Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: Vacant single‑story warehouse: Enables immediate occupancy for owner‑users.; R7‑1 zoning: Presents long‑term residential redevelopment potential.; 14‑foot ceilings and drive‑in loading door: Facilitates efficient warehouse operations.
