Mixed-Use Property with
New
For Sale
$999,999
2350 Washington Ave The, Bronx, NY 10458
Two residential units sit above a ground-floor bar within an M1-4/R7A-zoned property.
Property Size2,500 SF
Days on Market2
Property Features for 2350 Washington Ave The
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$15,458
Building Details
Building Size
2,500 SF
Year Built
1931
Listing Agency:
Millionaire Minds Realty
Listed By:
Steven Pratt · License #10491211059
(929) 400-1063
Source:
Elliman
Added: Sep 5
Last Checked: Sep 5 at 2:53PM
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 Millionaire Minds Realty
Investment Insights
Based on property information with market context.
This mixed-use property, built in 1931, includes two residential units positioned above a ground-floor commercial bar. The existing configuration combines residential and commercial space within one building and may support renovation or repositioning, subject to applicable approvals and regulations.
The property is located at 2350 Washington Avenue in The Bronx. Walk Score is 92, Transit Score is 100, and Bike Score is 73, reflecting strong access for pedestrians, transit riders, and cyclists. Zoning is designated M1-4/R7A. Zoning, allowable uses, development rights, square footage, and redevelopment potential should be independently verified with the appropriate NYC agencies and qualified professionals.
The property is located at 2350 Washington Avenue in The Bronx. Walk Score is 92, Transit Score is 100, and Bike Score is 73, reflecting strong access for pedestrians, transit riders, and cyclists. Zoning is designated M1-4/R7A. Zoning, allowable uses, development rights, square footage, and redevelopment potential should be independently verified with the appropriate NYC agencies and qualified professionals.
Key Highlights
- Two residential units above a ground‑floor commercial bar
- M1‑4/R7A zoning designation
- Built in 1931
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
$63,504
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
6.35%
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%
$1,270,080
$1.3M
Cap Rate 7%
$907,200
$907.2K
Cap Rate 9%
$705,600
$705.6K
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
$96.0K $38.40/SF
− Vacancy
−$5.3K −$2.11/SF
EGI
$90.7K $36.29/SF
− OpEx
−$27.2K −$10.89/SF
NOI
$63.5K $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%
$1,270,080
Cap Rate 7%
$907,200
Cap Rate 9%
$705,600
Alternative Uses
Best Use
Multifamily LT 5
$907.2K
$793.8K – $1.06M
NOI $63,504 @ 7.0% cap · market cap 6.35%
Second Best
Specialty Retail
$872.7K
$763.6K – $1.02M
NOI $61,088 @ 7.0% cap · market cap 6.11%
Theoretical Best
Warehouse
$1.73M
$1.52M – $2.02M
NOI $121,263 @ 7.0% cap · market cap 12.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,616
Businesses Nearby
Explore this area
Business Placement
Demographics for 10458, NY
81,299
Population
30,592
Households
2.7
Avg Household Size
32
Median Age
16%
College-Educated
68%
High-School Grad
1.2 sq mi
ZIP Area
67,749
Density / Sq Mi
$42,107
Median Household Income
$29,596
Median Earnings
$1,548
Median Rent
$515,700
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Mixed-use property - Two residential units sit above a ground-floor bar within an M1-4/R7A-zoned property.
Where is this mixed-use property located?
The property is located at 2350 Washington Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Two residential units above a ground‑floor commercial bar; M1‑4/R7A zoning designation; Built in 1931
