Mixed-Use Property with
For Sale
$1,200,000
269-267 City Island Avenue, Bronx, NY 10464
Two ground-floor commercial spaces accompany an upper-level two-bedroom residential unit.
Property Size2,500 SF
Price / SF$480
Days on Market1353
Property Features for 269-267 City Island Avenue
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Multi Family
Amenities
No, .00, No, None
Square Feet
Finished
Multi Family, Public
2500
No
Building Details
Year Built
1910
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Direct Choice Realty
(718) 885-1166
Listed By:
Cecilia Norbert · License #10491208196
(718) 885-1166
Source:
Compass
Added: Dec 17, 2022
Changed: Aug 31
Last Checked: Aug 30 at 11:32PM
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 Direct Choice Realty
Investment Insights
Based on property information with market context.
Built in 1910, this 2,500-square-foot mixed-use building combines commercial and residential components. The main level contains two storefront spaces identified as 267 and 269, while the upper floor includes a two-bedroom apartment with a living area and kitchen. Ceramic tile and combination flooring are present within the property.
The building is located at 269-267 City Island Avenue in the Bronx, within City Island. Parks, marinas, dining options, arts venues, and antique stores are described in the surrounding area, adding a range of nearby neighborhood amenities to the property’s mixed-use setting.
The building is located at 269-267 City Island Avenue in the Bronx, within City Island. Parks, marinas, dining options, arts venues, and antique stores are described in the surrounding area, adding a range of nearby neighborhood amenities to the property’s mixed-use setting.
Key Highlights
- 2,500‑square‑foot mixed‑use building constructed in 1910
- Two main‑level storefront spaces identified as 267 and 269
- Upper‑floor two‑bedroom apartment
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
$52,626
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
4.39%
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%
$1,052,520
$1.1M
Cap Rate 7%
$751,800
$751.8K
Cap Rate 9%
$584,733
$584.7K
Market Conditions
NOI Build-Up for 2,500 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
$84.0K $33.60/SF
− Vacancy
−$8.8K −$3.53/SF
EGI
$75.2K $30.07/SF
− OpEx
−$22.6K −$9.02/SF
NOI
$52.6K $21.05/SF
Area
Bronx, NY
Vacancy
10.50%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
30.00%
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%
$1,052,520
Cap Rate 7%
$751,800
Cap Rate 9%
$584,733
Alternative Uses
Best Use
Retail
$751.8K
$657.8K – $877.1K
NOI $52,626 @ 7.0% cap · market cap 4.39%
Second Best
Mixed Use
$715.2K
$625.8K – $834.4K
NOI $50,063 @ 7.0% cap · market cap 4.17%
Theoretical Best
Warehouse
$1.73M
$1.52M – $2.02M
NOI $121,263 @ 7.0% cap · market cap 10.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
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
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 - Two ground-floor commercial spaces accompany an upper-level two-bedroom residential unit.
Where is this mixed-use property located?
The property is located at 269-267 City Island Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 2,500‑square‑foot mixed‑use building constructed in 1910; Two main‑level storefront spaces identified as 267 and 269; Upper‑floor two‑bedroom apartment
