Two-Family with
For Sale
$1,699,000
2918 BRUCKNER BLVD, Bronx, NY 10465
Two walk-up units with three-bedroom layouts plus an on-site bar/restaurant, with updated roof, gas heat, and electrical.
Property Size4,576 SF
Price / SF$371.28
Days on Market202
Property Features for 2918 BRUCKNER BLVD
General Information
Standard status
Active
Size
4,576 SF
Property subtype
Mixed Use
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,866
Amenities
Window/Wall Unit
3
Building Details
Year Built
1925
Tenancy
Multi
Listing Agency:
Morris Park Realty Group
Listed By:
Joseph Cosentino · License #10311205741
(718) 881-1923
Source:
Xome
Added: Feb 15
Changed: Sep 1
Last Checked: Sep 4 at 3:07AM
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 Morris Park Realty Group
Investment Insights
Based on property information with market context.
This two-family walk-up property includes an on-site bar/restaurant and two residential units. Apartment 1 features three bedrooms and one bathroom. Apartment 2 also offers three bedrooms and one bathroom. The building is described as well maintained, with multiple utility and life-safety upgrades completed.
Per the provided remarks, improvements include an upgraded electrical service, a roof replacement, an upgraded gas service, a new gas steam boiler, and a security camera system. The property is located in the Throggs Neck area of the Bronx on Bruckner Blvd.
Public remarks note excellent rent collections. Presented as a for-sale income-focused asset combining residential units and a bar/restaurant component.
Per the provided remarks, improvements include an upgraded electrical service, a roof replacement, an upgraded gas service, a new gas steam boiler, and a security camera system. The property is located in the Throggs Neck area of the Bronx on Bruckner Blvd.
Public remarks note excellent rent collections. Presented as a for-sale income-focused asset combining residential units and a bar/restaurant component.
Key Highlights
- Two‑family walk‑up in the Throggs Neck area of the Bronx
- Apartment 1 features 3 bedrooms and 1 bathroom
- Apartment 2 features 3 bedrooms and 1 bathroom
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
$116,238
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
6.84%
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%
$2,324,760
$2.3M
Cap Rate 7%
$1,660,543
$1.7M
Cap Rate 9%
$1,291,533
$1.3M
Market Conditions
NOI Build-Up for 4,576 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
$175.7K $38.40/SF
− Vacancy
−$9.7K −$2.11/SF
EGI
$166.1K $36.29/SF
− OpEx
−$49.8K −$10.89/SF
NOI
$116.2K $25.40/SF
Area
Bronx, NY
Vacancy
5.50%
Lease Rate
$38.40 /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%
$2,324,760
Cap Rate 7%
$1,660,543
Cap Rate 9%
$1,291,533
Alternative Uses
Best Use
Multifamily LT 5
$1.66M
$1.45M – $1.94M
NOI $116,238 @ 7.0% cap · market cap 6.84%
Second Best
Specialty Retail
$1.60M
$1.40M – $1.86M
NOI $111,815 @ 7.0% cap · market cap 6.58%
Theoretical Best
Warehouse
$3.17M
$2.77M – $3.70M
NOI $221,959 @ 7.0% cap · market cap 13.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,637
Businesses Nearby
Explore this area
Business Placement
Demographics for 10465, NY
45,799
Population
17,200
Households
2.7
Avg Household Size
40
Median Age
29%
College-Educated
86%
High-School Grad
3.9 sq mi
ZIP Area
11,743
Density / Sq Mi
$90,255
Median Household Income
$52,787
Median Earnings
$1,774
Median Rent
$602,000
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?
Duplex - Two walk-up units with three-bedroom layouts plus an on-site bar/restaurant, with updated roof, gas heat, and electrical.
Where is this duplex located?
The property is located at 2918 BRUCKNER BLVD Bronx, NY.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Two‑family walk‑up in the Throggs Neck area of the Bronx; Apartment 1 features 3 bedrooms and 1 bathroom; Apartment 2 features 3 bedrooms and 1 bathroom
