Three-Unit Triplex with
For Sale
$950,000
2952 Miles Avenue, Bronx, NY 10465
The property includes a walk-out basement and requires updating for a future owner’s planned improvements.
Property Size2,400 SF
Price / SF$395.83
Days on Market124
Property Features for 2952 Miles Avenue
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Triplex
Property Condition
Severity
Repairs Needed
Evidence
requires updating and renovation
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,279
Amenities
Square Feet
Finished, Full, Walk-Out Access, Yes
Other, Public
Other
Walk Out Basement
No
Vinyl Siding
Garage, On Street, Shared Driveway
Building Details
Year Built
1930
Listing Agency:
Real Broker NY LLC
Listed By:
Christopher Motta
(855) 450-0442
Source:
Compass
Added: May 3
Changed: Aug 30
Last Checked: Aug 31 at 9:43PM
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 Real Broker NY LLC
Investment Insights
Based on property information with market context.
This 2,400-square-foot triplex contains three separate residential units, offering a multi-unit layout within a 1930-built property. The building has vinyl siding, a full walk-out basement, and a detached garage, along with on-street parking and a shared driveway. The property is being sold as-is and requires updating and renovation.
Located at 2952 Miles Avenue in the Bronx, the property is near Tremont Avenue, shopping, restaurants, schools, parks, public transportation, and major highways. Its Throggs Neck setting places daily services and transportation options within the surrounding area.
The combination of three units, basement access, and garage space provides a defined physical configuration for renovation planning and future ownership use.
Located at 2952 Miles Avenue in the Bronx, the property is near Tremont Avenue, shopping, restaurants, schools, parks, public transportation, and major highways. Its Throggs Neck setting places daily services and transportation options within the surrounding area.
The combination of three units, basement access, and garage space provides a defined physical configuration for renovation planning and future ownership use.
Key Highlights
- Three separate residential units
- 2,400 square feet of property size
- Detached garage with on‑street parking and shared driveway
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
$60,964
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
6.42%
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%
$1,219,280
$1.2M
Cap Rate 7%
$870,914
$870.9K
Cap Rate 9%
$677,378
$677.4K
Market Conditions
NOI Build-Up for 2,400 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
$92.2K $38.40/SF
− Vacancy
−$5.1K −$2.11/SF
EGI
$87.1K $36.29/SF
− OpEx
−$26.1K −$10.89/SF
NOI
$61.0K $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%
$1,219,280
Cap Rate 7%
$870,914
Cap Rate 9%
$677,378
Alternative Uses
Best Use
Multifamily LT 5
$870.9K
$762.1K – $1.02M
NOI $60,964 @ 7.0% cap · market cap 6.42%
Second Best
Apartment 5plus
$788.7K
$690.1K – $920.2K
NOI $55,209 @ 7.0% cap · market cap 5.81%
Theoretical Best
Warehouse
$1.66M
$1.46M – $1.94M
NOI $116,412 @ 7.0% cap · market cap 12.25%
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
751
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?
Triplex - The property includes a walk-out basement and requires updating for a future owner’s planned improvements.
Where is this triplex located?
The property is located at 2952 Miles Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Three separate residential units; 2,400 square feet of property size; Detached garage with on‑street parking and shared driveway
