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Building Details

Building Size 4,424 SF

Year Built 1925

Buildings 1

Stories 3

Tenancy Multi

Listing Agency: eXp Realty

Listed By: Luis A. Morales Jr · License #10301202922 Show Phone

Source: Serhant

Added: Oct 12 Changed: Oct 15 Last Checked: Oct 15 at 2:05AM

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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 eXp Realty

Investment Insights

Based on property information with market context.

This three-story mixed-use building contains approximately 4,430 square feet on a 22' x 67' lot, with a 1,474-square-foot building footprint. The residential component includes two three-bedroom apartments. At street level, 1,474 square feet of vacant retail or flex space has large windows and a layout adaptable to commercial use. A finished walk-up attic loft adds space, with porch areas at both the front and rear. The building also has baseboard heat and HVAC.

The property is at the intersection of E Tremont Avenue and Castle Hill Avenue in the Westchester Square area. Bx40, Bx42, and Bx4A bus service is approximately one block away; the #6 subway is approximately seven to nine blocks away.

Key Highlights

• Approximately 4,430 SF in a three‑story mixed‑use building
• Two three‑bedroom apartments
• Vacant 1,474‑SF ground‑floor retail/flex space with large windows

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$101,906

Cap Rate

7.03%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,038,120 $2.0M

Cap Rate 7%

$1,455,800 $1.5M

Cap Rate 9%

$1,132,289 $1.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,430 SF

Gross rent

$196.7K $44.40/SF

− Vacancy

−$11.4K −$2.58/SF

EGI

$185.3K $41.82/SF

− OpEx

−$83.4K −$18.82/SF

NOI

$101.9K $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 Rate 5%

$2,038,120

Cap Rate 7%

$1,455,800

Cap Rate 9%

$1,132,289

Alternative Uses

Best Use

Apartment 5plus

$1.46M

$1.27M – $1.70M (±1% cap)

NOI $101,906 @ 7.0% cap · market cap 7.03%

Second Best

Retail

$1.33M

$1.17M – $1.55M (±1% cap)

NOI $93,253 @ 7.0% cap · market cap 6.44%

Theoretical Best

Warehouse

$3.07M

$2.69M – $3.58M (±1% cap)

NOI $214,878 @ 7.0% cap · market cap 14.83%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Peoples Choice Car ... Car Rental Facility Zion Family Ministries, ... Church Born 4 INK Tattoo & Piercing Shop

Suggested Use

Top Pick Law Firm (Bike/Boat/Book/etc) Store Pet Store Bed & Breakfast Nursing Home Coworking & Hybrid Office

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Multi-tenant

Tenancy

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

5,609

Businesses Nearby

Explore this area Business Placement

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 Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Two residential apartments sit above vacant ground-floor space suited to a range of commercial uses.

Where is this mixed-use property located?

The property is located at 2429 E Tremont Avenue Bronx, NY.

What is the asking price?

The asking price for this property is $1,449,000.

What are key features of this property?

This property features: Approximately 4,430 SF in a three‑story mixed‑use building; Two three‑bedroom apartments; Vacant 1,474‑SF ground‑floor retail/flex space with large windows