Storefront Dry-Cleaning
For Sale
$250,000
2360 Tiebout Avenue, Bronx, NY 10458
Operating dry-cleaning businesses include equipment, fixtures, and the complete book of business.
Property Size900 SF
Days on Market159
Property Features for 2360 Tiebout Avenue
General Information
Standard status
Active
Size
900 SF
Property subtype
Business Opportunity
Additional Details
Business Included
Yes
Building Details
Building Size
900 SF
Listing Agency:
Damico Group Real Estate
(347) 928-2021
Listed By:
Daniel R. D'Amico
(347) 928-2021
Source:
Callexitfirst
Added: Mar 24
Changed: Aug 28
Last Checked: Aug 28 at 11:30AM
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 Damico Group Real Estate
Investment Insights
Based on property information with market context.
This offering comprises 2 operating dry-cleaning businesses under the Metro Cleaners name at 2360 Tiebout Avenue in Bronx, NY 10458. The business sale includes garment-care machinery, point-of-sale systems, other equipment, fixtures, and the complete book of business. The included assets are described as fully functional and ready for continued operation.
The transaction excludes the real estate. A long-term lease may be negotiated before closing, providing a path for continued occupancy at the existing location. Financial information and additional details may require an NDA and proof of funds.
The transaction excludes the real estate. A long-term lease may be negotiated before closing, providing a path for continued occupancy at the existing location. Financial information and additional details may require an NDA and proof of funds.
Key Highlights
- 2 operating dry‑cleaning businesses included
- Metro Cleaners name and complete book of business
- Garment‑care machinery and point‑of‑sale systems included
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
$18,945
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
7.58%
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%
$378,900
$378.9K
Cap Rate 7%
$270,643
$270.6K
Cap Rate 9%
$210,500
$210.5K
Market Conditions
NOI Build-Up for 900 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
$30.2K $33.60/SF
− Vacancy
−$3.2K −$3.53/SF
EGI
$27.1K $30.07/SF
− OpEx
−$8.1K −$9.02/SF
NOI
$18.9K $21.05/SF
Area
Bronx, NY
Vacancy
10.50%
Lease Rate
$33.60 /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%
$378,900
Cap Rate 7%
$270,643
Cap Rate 9%
$210,500
Alternative Uses
Best Use
Retail
$270.6K
$236.8K – $315.8K
NOI $18,945 @ 7.0% cap · market cap 7.58%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$623.6K
$545.7K – $727.6K
NOI $43,655 @ 7.0% cap · market cap 17.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
7,684
Businesses Nearby
358k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 35%
Dining 32%
Apparel 24%
Electronics 5%
Burlington
Apparel
56,281 visits/mo
0.3 miles
Panda Express
Dining
27,463 visits/mo
0.4 miles
TD Bank
Shops & Services
27,422 visits/mo
0.3 miles
McDonald's
Dining
19,377 visits/mo
0.5 miles
Old Navy
Apparel
19,197 visits/mo
0.2 miles
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Operating dry-cleaning businesses include equipment, fixtures, and the complete book of business.
Where is this storefront property located?
The property is located at 2360 Tiebout Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 2 operating dry‑cleaning businesses included; Metro Cleaners name and complete book of business; Garment‑care machinery and point‑of‑sale systems included
