Three-Unit Triplex Requiring
For Sale
Contact for pricing
2360 Lorillard Pl, Bronx, NY 10458
Tenant-occupied residential income property offered as-is with a full renovation requirement.
Property Size3,585 SF
Price / SF$267.78
Days on Market15
Property Features for 2360 Lorillard Pl
General Information
Standard status
Active
Size
3,585 SF
Property subtype
Mixed Use
Building Details
Year Built
1901
Tenancy
Multi
Listing Agency:
SMITH JULIET MARIE
(914) 530-5040
Listed By:
Juliet Smith
Source:
Crexi
Added: Jul 28
Changed: Aug 8
Last Checked: Aug 10 at 1:30PM
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 SMITH JULIET MARIE
Investment Insights
Based on property information with market context.
This three-family residential property contains 3,585 square feet and was built in 1901. The asset is occupied by tenants and requires a complete renovation, with the sale offered in its existing as-is condition. The configuration provides a defined multifamily structure for a buyer evaluating renovation and repositioning work.
The property is located at 2360 Lorillard Pl in the Bronx, New York. Public transportation, shopping, schools, parks, restaurants, and major roadways are identified in the surrounding area. Buyers are responsible for evaluating the building’s condition, zoning, permits, and intended use.
The property is located at 2360 Lorillard Pl in the Bronx, New York. Public transportation, shopping, schools, parks, restaurants, and major roadways are identified in the surrounding area. Buyers are responsible for evaluating the building’s condition, zoning, permits, and intended use.
Key Highlights
- Three‑family property with tenants in place
- 3,585 SF multifamily building
- Built in 1901
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
$82,468
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
8.59%
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%
$1,649,360
$1.6M
Cap Rate 7%
$1,178,114
$1.2M
Cap Rate 9%
$916,311
$916.3K
Market Conditions
NOI Build-Up for 3,585 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
$159.2K $44.40/SF
− Vacancy
−$9.2K −$2.58/SF
EGI
$149.9K $41.82/SF
− OpEx
−$67.5K −$18.82/SF
NOI
$82.5K $23.00/SF
Area
Bronx, NY
Vacancy
5.80%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
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%
$1,649,360
Cap Rate 7%
$1,178,114
Cap Rate 9%
$916,311
Alternative Uses
Best Use
Multifamily LT 5
$1.30M
$1.14M – $1.52M
NOI $91,065 @ 7.0% cap · market cap 9.49%
Second Best
Apartment 5plus
$1.18M
$1.03M – $1.37M
NOI $82,468 @ 7.0% cap · market cap 8.59%
Theoretical Best
Warehouse
$2.48M
$2.17M – $2.90M
NOI $173,891 @ 7.0% cap · market cap 18.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,630
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
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Frequently Asked Questions
What type of property is this?
Triplex - Tenant-occupied residential income property offered as-is with a full renovation requirement.
Where is this triplex located?
The property is located at 2360 Lorillard Pl Bronx, NY.
What is the asking price?
The asking price for this property is $960,000.
What are key features of this property?
This property features: Three‑family property with tenants in place; 3,585 SF multifamily building; Built in 1901
