Vacant Triplex with Development
For Sale
$1,149,750
2164 Crotona Avenue, Bronx, NY 10457
Three apartments, a full basement, R7-1 zoning, and backyard access define this vacant Bronx property.
Property Size2,275 SF
Days on Market50
Property Features for 2164 Crotona Avenue
General Information
Standard status
Active
Size
2,275 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$3,668
Building Details
Building Size
2,275 SF
Year Built
1910
Listing Agency:
Keller Williams Realty NYC Grp
(718) 697-6800
Listed By:
Kenneth Fuentes · License #10401214433
Source:
Serhant
Added: Jun 27
Changed: Aug 8
Last Checked: Aug 15 at 11:45AM
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 Keller Williams Realty NYC Grp
Investment Insights
Based on property information with market context.
This 1910 triplex includes two 5-bedroom apartments, one 4-bedroom apartment, and a large full basement with backyard access. The property will be delivered fully vacant and is being sold as is. Fire damage from the neighboring house affected the siding and left side of the roof; portions of the affected wall were stripped of sheetrock, and the kitchens were removed following water damage caused by the fire department.
The property measures 25.30 x 92.97 and is zoned R7-1. The development parameters described include a FAR of 4 with the wide street bonus and up to a 5 FAR through the UAP program, subject to architect consultation. The site may accommodate up to 13 apartments, or up to 17 apartments through the UAP program.
The property measures 25.30 x 92.97 and is zoned R7-1. The development parameters described include a FAR of 4 with the wide street bonus and up to a 5 FAR through the UAP program, subject to architect consultation. The site may accommodate up to 13 apartments, or up to 17 apartments through the UAP program.
Key Highlights
- Triplex with two 5‑bedroom apartments and one 4‑bedroom apartment
- Large full basement with backyard access
- 25.30 x 92.97 property dimensions
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
$57,789
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
5.03%
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%
$1,155,780
$1.2M
Cap Rate 7%
$825,557
$825.6K
Cap Rate 9%
$642,100
$642.1K
Market Conditions
NOI Build-Up for 2,275 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
$87.4K $38.40/SF
− Vacancy
−$4.8K −$2.11/SF
EGI
$82.6K $36.29/SF
− OpEx
−$24.8K −$10.89/SF
NOI
$57.8K $25.40/SF
Area
Bronx, NY
Vacancy
5.50%
Lease Rate
$38.40 /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%
$1,155,780
Cap Rate 7%
$825,557
Cap Rate 9%
$642,100
Alternative Uses
Best Use
Multifamily LT 5
$825.6K
$722.4K – $963.2K
NOI $57,789 @ 7.0% cap · market cap 5.03%
Second Best
Apartment 5plus
$747.6K
$654.2K – $872.2K
NOI $52,333 @ 7.0% cap · market cap 4.55%
Theoretical Best
Warehouse
$1.58M
$1.38M – $1.84M
NOI $110,349 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,218
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?
Triplex - Three apartments, a full basement, R7-1 zoning, and backyard access define this vacant Bronx property.
Where is this triplex located?
The property is located at 2164 Crotona Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,149,750.
What are key features of this property?
This property features: Triplex with two 5‑bedroom apartments and one 4‑bedroom apartment; Large full basement with backyard access; 25.30 x 92.97 property dimensions
