Mixed-Use Investment in Throggs
For Sale
$1,699,000
2918 Bruckner Blvd The, Bronx, NY 10465
Turnkey property with commercial space and residential income potential.
Property Size4,576 SF
Lot Size0.06 Acres
Days on Market150
Property Features for 2918 Bruckner Blvd The
General Information
Standard status
Active
Size
4,576 SF
Lot size
0.06 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$5,865
Building Details
Building Size
4,576 SF
Year Built
1925
Stories
1
Listing Agency:
Morris Park Realty Group
(718) 881-1923
Listed By:
Joseph Cosentino · License #10311205741
(718) 881-1923
Source:
Elliman
Added: Mar 24
Changed: Aug 8
Last Checked: Jul 16 at 8:05AM
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.
Located in the Throggs Neck section of the Bronx, this mixed-use property at 2918 Bruckner Blvd presents an investment opportunity. The building features a fully operational commercial space and residential income potential. The ground floor is occupied by a sports bar, which includes a finished basement suitable for refrigeration and walk-in storage. This space is designed for food and beverage use or other business concepts. The property also includes two 3-bedroom, 1-bath apartments. Each apartment features a layout and is equipped with in-unit washer and dryer. The building is equipped with 4 gas meters and 4 electric meters, a gas boiler heating system, two gas hot water heaters, a water booster pump, and a sump pump system. The property has a flat roof and a shingle roof. Situated on Bruckner Blvd, the property benefits from high visibility and traffic. It is located near major highways, retail stores, and public transportation.
Key Highlights
- Turnkey mixed‑use property in the desirable Throggs Neck section of the Bronx.
- Fully operational ground floor sports bar with finished basement (ideal for refrigeration and walk‑in storage).
- Two spacious 3‑bedroom, 1‑bath apartments with in‑unit washer & dryers.
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
$111,815
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
6.58%
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%
$2,236,300
$2.2M
Cap Rate 7%
$1,597,357
$1.6M
Cap Rate 9%
$1,242,389
$1.2M
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
$164.7K $36.00/SF
− Vacancy
−$15.6K −$3.42/SF
EGI
$149.1K $32.58/SF
− OpEx
−$37.3K −$8.15/SF
NOI
$111.8K $24.44/SF
Area
Bronx, NY
Vacancy
9.50%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,236,300
Cap Rate 7%
$1,597,357
Cap Rate 9%
$1,242,389
Alternative Uses
Best Use
Specialty Retail
$1.60M
$1.40M – $1.86M
NOI $111,815 @ 7.0% cap · market cap 6.58%
Second Best
Mixed Use
$1.31M
$1.15M – $1.53M
NOI $91,634 @ 7.0% cap · market cap 5.39%
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
Location Intelligence
Trade Area within ½ mile
1,637
Businesses Nearby
160k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 44%
Dining 28%
Groceries 28%
McDonald's
Dining
39,831 visits/mo
0.4 miles
Super Foodtown
Groceries
22,617 visits/mo
0.1 miles
Fine Fare
Groceries
22,167 visits/mo
0.4 miles
Speedway
Shops & Services
17,791 visits/mo
0.2 miles
BP
Shops & Services
15,624 visits/mo
0.2 miles
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Turnkey property with commercial space and residential income potential.
Where is this mixed-use property located?
The property is located at 2918 Bruckner Blvd The 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: Turnkey mixed‑use property in the desirable Throggs Neck section of the Bronx.; Fully operational ground floor sports bar with finished basement (ideal for refrigeration and walk‑in storage).; Two spacious 3‑bedroom, 1‑bath apartments with in‑unit washer & dryers.
