Restaurant Social Club
For Sale
$799,000
Pending
2419 Dorsey St, Bronx, NY 10461
Social club property with an event-ready commercial kitchen, finished basement, and four bathrooms on a 50 by 75 lot.
Property Size1,750 SF
Days on Market527
Property Features for 2419 Dorsey St
General Information
Standard status
Pending
Size
1,750 SF
Zoning
R6
Taxes and HOA fees
Annual Taxes
$8,007
Listing Agency:
Century 21 Kafcos Realty
(718) 757-6323
Listed By:
Ernesto De Sieno · License #10401332425
(718) 757-6323
Source:
Exprealty
Added: Mar 3, 2025
Changed: Jul 22
Last Checked: Jul 22 at 2:37AM
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 Century 21 Kafcos Realty
Investment Insights
Based on property information with market context.
This restaurant social club property is set up for private events and social gatherings, with a commercial kitchen designed for catering. The existing structure is approximately 25 by 70 feet and includes a full finished basement and four bathrooms.
The lot features 50 feet of frontage and extends 75 feet deep in an R6 zone. The property is listed with close proximity to the number 6 train and buses, supporting convenient access for patrons and guests.
Offered for sale with on-site private parking described in the remarks, this building combines event-focused interior space with dedicated kitchen and restrooms for guest use.
The lot features 50 feet of frontage and extends 75 feet deep in an R6 zone. The property is listed with close proximity to the number 6 train and buses, supporting convenient access for patrons and guests.
Offered for sale with on-site private parking described in the remarks, this building combines event-focused interior space with dedicated kitchen and restrooms for guest use.
Key Highlights
- 50‑ft frontage and 75‑ft depth lot in an R6 zone
- Social club structure approx. 25' x 70' with a full finished basement
- Commercial kitchen setup for events and social gatherings
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
$69,904
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
8.75%
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%
$1,398,080
$1.4M
Cap Rate 7%
$998,629
$998.6K
Cap Rate 9%
$776,711
$776.7K
Market Conditions
NOI Build-Up for 1,750 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
$109.2K $62.40/SF
− Vacancy
−$9.3K −$5.34/SF
EGI
$99.9K $57.06/SF
− OpEx
−$30.0K −$17.12/SF
NOI
$69.9K $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%
$1,398,080
Cap Rate 7%
$998,629
Cap Rate 9%
$776,711
Alternative Uses
Best Use
Industrial
$998.6K
$873.8K – $1.17M
NOI $69,904 @ 7.0% cap · market cap 8.75%
Second Best
Specialty Retail
$610.9K
$534.5K – $712.7K
NOI $42,761 @ 7.0% cap · market cap 5.35%
Theoretical Best
Warehouse
$1.21M
$1.06M – $1.41M
NOI $84,884 @ 7.0% cap · market cap 10.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,652
Businesses Nearby
285k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 45%
Dining 43%
Groceries 6%
Electronics 3%
Wendy's
Dining
31,083 visits/mo
0.3 miles
Dollar Tree
Shops & Services
29,487 visits/mo
0.3 miles
BP
Shops & Services
20,116 visits/mo
0.5 miles
Wendy's
Dining
18,594 visits/mo
0.4 miles
Golden Corral
Dining
17,648 visits/mo
0.3 miles
Demographics for 10461, NY
54,901
Population
20,418
Households
2.7
Avg Household Size
38
Median Age
27%
College-Educated
82%
High-School Grad
2.4 sq mi
ZIP Area
22,875
Density / Sq Mi
$65,023
Median Household Income
$45,445
Median Earnings
$1,741
Median Rent
$640,400
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?
Commercial kitchen - Social club property with an event-ready commercial kitchen, finished basement, and four bathrooms on a 50 by 75 lot.
Where is this commercial kitchen located?
The property is located at 2419 Dorsey St Bronx, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 50‑ft frontage and 75‑ft depth lot in an R6 zone; Social club structure approx. 25' x 70' with a full finished basement; Commercial kitchen setup for events and social gatherings
