Four-Story Mixed-Use
New
For Sale
$1,850,000
2476 Arthur Ave The, Bronx, NY 10458
Walk-up property combining residential apartments with a commercial storefront near Arthur Avenue and neighborhood destinations.
Property Size7,000 SF
Days on Market3
Property Features for 2476 Arthur Ave The
General Information
Standard status
Active
Size
7,000 SF
Property subtype
Commercial
Units
Unit Mix
6 x 1BR, 3 x 2BR, 1 x 3BR
Multifamily Units
10
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$22,362
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
(718) 365-4310
Source:
Elliman
Added: Sep 4
Last Checked: Sep 5 at 1:12PM
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
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.
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 = 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
$161,025
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
8.70%
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%
$3,220,500
$3.2M
Cap Rate 7%
$2,300,357
$2.3M
Cap Rate 9%
$1,789,167
$1.8M
Market Conditions
NOI Build-Up for 7,000 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
$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 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%
$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
NOI $161,025 @ 7.0% cap · market cap 8.70%
Second Best
Retail
$2.11M
$1.84M – $2.46M
NOI $147,353 @ 7.0% cap · market cap 7.97%
Theoretical Best
Warehouse
$4.85M
$4.24M – $5.66M
NOI $339,536 @ 7.0% cap · market cap 18.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
