Building Details

Building Size 7,000 SF

Year Built 1931

Buildings 1

Stories 4

Units 11

Listing Agency: Bajraktari Realty group llc

Listed By: Hatema Nezaj · License #10491200403 Show Phone

Source: Elliman

Added: Sep 4 Changed: Oct 8 Last Checked: Oct 20 at 8:29PM

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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 Bajraktari Realty group llc

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Investment Insights

Based on property information with market context.

This four-story walk-up mixed-use building contains 10 residential apartments and one commercial storefront measuring approximately 1,200 SF. The residential unit mix includes 6 one-bedroom apartments, 3 two-bedroom apartments, and 1 three-bedroom apartment. Built in 1931, the property has been well maintained and combines apartment occupancy with ground-floor commercial space.

The building is located at 2476 Arthur Avenue and 604 E 189th Street in the Belmont neighborhood of the Bronx, near the Arthur Avenue/Little Italy district. The surrounding area includes the Bronx Zoo and New York Botanical Garden. Walk Score is 92, Transit Score is 100, and BikeScore is 73, reflecting strong pedestrian, transit, and bicycle access.

Key Highlights

• 10 residential units: 6 one‑bedroom, 3 two‑bedroom, and 1 three‑bedroom apartments
• Approximately 1,200 SF commercial storefront
• Four‑story walk‑up building constructed in 1931

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$161,025

Cap Rate

8.70%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,220,500 $3.2M

Cap Rate 7%

$2,300,357 $2.3M

Cap Rate 9%

$1,789,167 $1.8M

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,000 SF

Gross rent

$310.8K $44.40/SF

− Vacancy

−$18.0K −$2.58/SF

EGI

$292.8K $41.82/SF

− OpEx

−$131.7K −$18.82/SF

NOI

$161.0K $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%

$3,220,500

Cap Rate 7%

$2,300,357

Cap Rate 9%

$1,789,167

Alternative Uses

Best Use

Apartment 5plus

$2.30M

$2.01M – $2.68M (±1% cap)

NOI $161,025 @ 7.0% cap · market cap 8.70%

Second Best

Retail

$2.11M

$1.84M – $2.46M (±1% cap)

NOI $147,353 @ 7.0% cap · market cap 7.97%

Theoretical Best

Warehouse

$4.85M

$4.24M – $5.66M (±1% cap)

NOI $339,536 @ 7.0% cap · market cap 18.35%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Mugzs Bar & Pub

Suggested Use

Top Pick Law Firm Real Estate Agency Gym & Fitness Center Acupuncture HVAC Service Building Supply

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

10

Residential units

Location Intelligence

Trade Area within ½ mile

4,469

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

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 - Walk-up property combining residential apartments with a commercial storefront near Arthur Avenue and neighborhood destinations.

Where is this mixed-use property located?

The property is located at 2476 Arthur Ave The Bronx, NY.

What is the asking price?

The asking price for this property is $1,850,000.

What are key features of this property?

This property features: 10 residential units: 6 one‑bedroom, 3 two‑bedroom, and 1 three‑bedroom apartments; Approximately 1,200 SF commercial storefront; Four‑story walk‑up building constructed in 1931