Three-Unit Triplex
For Sale
Contact for pricing
2722 WALLACE AVE, Bronx, NY 10467
For sale three-unit multifamily property totaling 3,276 SF in the Bronx.
Property Size3,276 SF
Price / SF$304.95
Days on Market72
Property Features for 2722 WALLACE AVE
General Information
Standard status
Active
Size
3,276 SF
Property subtype
Multifamily
Net Operating Income
$6,667
Additional Details
Multifamily Units
3
Building Details
Year Built
2002
Stories
3
Units
3
Listing Agency:
Link NY Realty
(646) 321-9428
Listed By:
Valon Nikci · License #NY 10491202180
Source:
Crexi
Added: Jun 5
Changed: Aug 8
Last Checked: Aug 14 at 6:54AM
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 Link NY Realty
Investment Insights
Based on property information with market context.
This for-sale triplex offers a compact, income-focused residential configuration with three separate units. The property totals 3,276 SF, providing a straightforward multi-unit layout designed for tenants who want independent living spaces within the same building.
Located at 2722 Wallace Ave in the Bronx, the property is positioned as a local residential income asset within an established urban setting. The listing information provided does not specify additional building amenities, lot details, or unit configurations beyond the three-unit count and total square footage.
For buyers seeking a manageable multifamily hold, this three-unit structure can be an efficient way to diversify rental income within one building rather than pursuing multiple properties. It may also fit investors or owner-occupants looking for a smaller-scale residential income strategy, with the practical advantage of controlling all units in a single asset. Please contact us for further details on the unit mix and any available documentation related to the property’s condition and leases.
Located at 2722 Wallace Ave in the Bronx, the property is positioned as a local residential income asset within an established urban setting. The listing information provided does not specify additional building amenities, lot details, or unit configurations beyond the three-unit count and total square footage.
For buyers seeking a manageable multifamily hold, this three-unit structure can be an efficient way to diversify rental income within one building rather than pursuing multiple properties. It may also fit investors or owner-occupants looking for a smaller-scale residential income strategy, with the practical advantage of controlling all units in a single asset. Please contact us for further details on the unit mix and any available documentation related to the property’s condition and leases.
Key Highlights
- Three‑unit multifamily property totaling 3,276 SF
- Built in 2002
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
$79,762
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
7.98%
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%
$1,595,240
$1.6M
Cap Rate 7%
$1,139,457
$1.1M
Cap Rate 9%
$886,244
$886.2K
Market Conditions
NOI Build-Up for 3,276 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
$121.9K $37.20/SF
− Vacancy
−$7.9K −$2.42/SF
EGI
$113.9K $34.78/SF
− OpEx
−$34.2K −$10.43/SF
NOI
$79.8K $24.35/SF
Area
ZIP 10467
Vacancy
6.50%
Lease Rate
$37.20 /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%
$1,595,240
Cap Rate 7%
$1,139,457
Cap Rate 9%
$886,244
Alternative Uses
Best Use
Multifamily LT 5
$1.14M
$997.0K – $1.33M
NOI $79,762 @ 7.0% cap · market cap 7.98%
Second Best
Apartment 5plus
$1.02M
$891.1K – $1.19M
NOI $71,286 @ 7.0% cap · market cap 7.14%
Theoretical Best
Warehouse
$2.27M
$1.99M – $2.65M
NOI $158,903 @ 7.0% cap · market cap 15.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,652
Businesses Nearby
Explore this area
Business Placement
Demographics for 10467, NY
103,660
Population
40,582
Households
2.6
Avg Household Size
36
Median Age
22%
College-Educated
75%
High-School Grad
2.3 sq mi
ZIP Area
45,070
Density / Sq Mi
$47,806
Median Household Income
$36,949
Median Earnings
$1,505
Median Rent
$425,500
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?
Triplex - For sale three-unit multifamily property totaling 3,276 SF in the Bronx.
Where is this triplex located?
The property is located at 2722 WALLACE AVE Bronx, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Three‑unit multifamily property totaling 3,276 SF; Built in 2002
