Residential Income Property with Hudson River
For Sale
$379,000
2465 Palisade Avenue 8-B, Bronx, NY 10463
Top-floor Jr-style apartment offers Hudson River sightlines and a large bright laundry room, steps from Metro-North.
Property Size972 SF
Price / SF$389.92
Days on Market51
Property Features for 2465 Palisade Avenue 8-B
General Information
Standard status
Active
Size
972 SF
Property subtype
Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Amenities
laundry room
Building Details
Building Size
972 SF
Year Built
1957
Listing Agency:
Robert E Hill Inc
(718) 884-2200
Listed By:
Christine Keaveney
(718) 884-2200
Source:
Carlinwright
Added: Jun 26
Changed: Aug 14
Last Checked: Aug 15 at 12:04PM
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 Robert E Hill Inc
Investment Insights
Based on property information with market context.
This top-floor apartment in The Bradley offers Hudson River views the moment you enter, with an airy layout that includes a spacious living/dining area and a windowed eat-in kitchen. At the entrance, there are two double-door closets, plus additional storage as you move through the unit. The primary bedroom fits a king-sized bed and includes two closets that could be combined into one. A wall-up option is noted for creating a second bedroom or den with cross ventilation. The unit also features a large, bright laundry room.
The Bradley is steps away from the Spuyten Duyvil Metro North Station. Commuting time to Grand Central Terminal is described as 33 minutes, and to Yankee Stadium as 14 minutes. The description also notes walkable local and express bus access and nearby shopping and dining, including restaurants and retail along Johnson and Riverdale Avenue, with major highways nearby.
Built in 1957, the apartment’s in-building services include a live-in super, porter, and part-time doorman.
The Bradley is steps away from the Spuyten Duyvil Metro North Station. Commuting time to Grand Central Terminal is described as 33 minutes, and to Yankee Stadium as 14 minutes. The description also notes walkable local and express bus access and nearby shopping and dining, including restaurants and retail along Johnson and Riverdale Avenue, with major highways nearby.
Built in 1957, the apartment’s in-building services include a live-in super, porter, and part-time doorman.
Key Highlights
- 972 SF top‑floor apartment with Hudson River views from the entry
- Storage includes two double‑door closets at the entrance plus additional closet space
- Primary bedroom fits a king‑sized bed; closets could be combined
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
$22,360
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
5.90%
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%
$447,200
$447.2K
Cap Rate 7%
$319,429
$319.4K
Cap Rate 9%
$248,444
$248.4K
Market Conditions
NOI Build-Up for 972 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
$43.2K $44.40/SF
− Vacancy
−$2.5K −$2.58/SF
EGI
$40.7K $41.82/SF
− OpEx
−$18.3K −$18.82/SF
NOI
$22.4K $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%
$447,200
Cap Rate 7%
$319,429
Cap Rate 9%
$248,444
Alternative Uses
Best Use
Apartment 5plus
$319.4K
$279.5K – $372.7K
NOI $22,360 @ 7.0% cap · market cap 5.90%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$673.5K
$589.3K – $785.8K
NOI $47,147 @ 7.0% cap · market cap 12.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,278
Businesses Nearby
Explore this area
Business Placement
Demographics for 10463, NY
71,301
Population
30,602
Households
2.3
Avg Household Size
41
Median Age
44%
College-Educated
85%
High-School Grad
2.8 sq mi
ZIP Area
25,465
Density / Sq Mi
$72,952
Median Household Income
$48,409
Median Earnings
$1,611
Median Rent
$352,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Top-floor Jr-style apartment offers Hudson River sightlines and a large bright laundry room, steps from Metro-North.
Where is this residential income property located?
The property is located at 2465 Palisade Avenue 8-B Bronx, NY.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: 972 SF top‑floor apartment with Hudson River views from the entry; Storage includes two double‑door closets at the entrance plus additional closet space; Primary bedroom fits a king‑sized bed; closets could be combined
