Mixed-Use Property with Marine
New
For Sale
$1,100,000
268 City Island Avenue, Bronx, NY 10464
An operating marine hardware shop occupies the ground floor, with two apartments above.
Property Size3,264 SF
Days on Market7
Property Features for 268 City Island Avenue
General Information
Standard status
Active
Size
3,264 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$6,236
Building Details
Building Size
3,264 SF
Year Built
1932
Listing Agency:
Today Realty Corp.
Listed By:
Alissa M. Shimansky · License #10401374633
(718) 597-1777
Source:
Cottiemaxwellrealestate
Added: Sep 29
Changed: Oct 2
Last Checked: Oct 4 at 5:19PM
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 Today Realty Corp.
Investment Insights
Based on property information with market context.
Built in 1932, this mixed-use property combines a marine hardware business with the building that houses it. The shop has operated since the 1960s, and two residential apartments sit above the commercial space.
Located at 268 City Island Avenue in the Bronx, the property brings together a street-level retail business and residential units in one asset.
Located at 268 City Island Avenue in the Bronx, the property brings together a street-level retail business and residential units in one asset.
Key Highlights
- Includes the marine hardware business and the property
- Two residential apartments above the commercial space
- Building constructed in 1932
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
$75,084
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
6.83%
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%
$1,501,680
$1.5M
Cap Rate 7%
$1,072,629
$1.1M
Cap Rate 9%
$834,267
$834.3K
Market Conditions
NOI Build-Up for 3,264 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
$144.9K $44.40/SF
− Vacancy
−$8.4K −$2.58/SF
EGI
$136.5K $41.82/SF
− OpEx
−$61.4K −$18.82/SF
NOI
$75.1K $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%
$1,501,680
Cap Rate 7%
$1,072,629
Cap Rate 9%
$834,267
Alternative Uses
Best Use
Apartment 5plus
$1.07M
$938.6K – $1.25M
NOI $75,084 @ 7.0% cap · market cap 6.83%
Second Best
Retail
$981.6K
$858.9K – $1.15M
NOI $68,709 @ 7.0% cap · market cap 6.25%
Theoretical Best
Warehouse
$2.26M
$1.98M – $2.64M
NOI $158,321 @ 7.0% cap · market cap 14.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
415
Businesses Nearby
11k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 59%
Groceries 41%
Sunoco
Shops & Services
4,428 visits/mo
0.2 miles
C-Town Supermarkets
Groceries
4,394 visits/mo
0.2 miles
Chase Bank
Shops & Services
1,826 visits/mo
0.2 miles
Demographics for 10464, NY
4,592
Population
2,255
Households
2
Avg Household Size
50
Median Age
46%
College-Educated
94%
High-School Grad
3.1 sq mi
ZIP Area
1,481
Density / Sq Mi
$100,306
Median Household Income
$70,148
Median Earnings
$1,993
Median Rent
$667,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - An operating marine hardware shop occupies the ground floor, with two apartments above.
Where is this mixed-use property located?
The property is located at 268 City Island Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Includes the marine hardware business and the property; Two residential apartments above the commercial space; Building constructed in 1932
