Boston Road Strip
For Sale
$5,850,000
3480 Boston Rd The, Bronx, NY 10469
8,450+ sqft strip center with national tenants for sale.
Property Size8,450 SF
Lot Size0.27 Acres
Price / SF$692.31
Days on Market153
Property Features for 3480 Boston Rd The
General Information
Standard status
Active
Size
8,450 SF
Lot size
0.27 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$50,995
Building Details
Building Size
8,450 SF
Year Built
1950
Units
4
Listing Agency:
All Island Estates Realty Corp
(516) 279-8828
Listed By:
Richard Matt Shane · License #10301216230
(516) 279-8828
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 4:50AM
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 All Island Estates Realty Corp
Investment Insights
Based on property information with market context.
This 8,450+ sqft strip center is available for sale on Boston Road. The property benefits from high visibility and prominent signage. It is zoned R5/C2-2 and includes 8 parking spaces. The building features 14’ ceilings, 3-phase power, sprinkler system, and new LED lighting, plus central air conditioning. The property comprises two lots and strategically placed curb cuts, along with a private parking lot. The location benefits from a daily traffic count of approximately 20,000 cars per day. Located in the Bronx, the property is near I-95 and the Gun Hill Road Train Station. Nearby businesses include Starbucks, Ford, Hyundai, The Bronx Zoo, CVS, Walgreens, Planet Fitness, YMCA, Macy’s, Marshall’s, Shake Shack, Firestone Complete Auto Care, Harbor Freight Tools, Buffalo Wild Wings, Wendy’s, Bob’s Discount Furniture, White Castle, Popeye’s Louisiana Kitchen, Golden Krust, and Aldi. The zoning allows for the construction of 4 additional stories. This property offers upside potential and could be suitable as a development site or for business use.
Key Highlights
- High‑Traffic Location: Situated on Boston Road with approximately 20,000 cars per day.
- Development Potential: R5/C2‑2 zoning allows for building 4 additional stories.
- 8,450+ Sqft. strip center currently occupied by national tenants.
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
$177,876
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
3.04%
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%
$3,557,520
$3.6M
Cap Rate 7%
$2,541,086
$2.5M
Cap Rate 9%
$1,976,400
$2.0M
Market Conditions
NOI Build-Up for 8,450 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
$283.9K $33.60/SF
− Vacancy
−$29.8K −$3.53/SF
EGI
$254.1K $30.07/SF
− OpEx
−$76.2K −$9.02/SF
NOI
$177.9K $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%
$3,557,520
Cap Rate 7%
$2,541,086
Cap Rate 9%
$1,976,400
Alternative Uses
Best Use
Retail
$2.54M
$2.22M – $2.96M
NOI $177,876 @ 7.0% cap · market cap 3.04%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$5.86M
$5.12M – $6.83M
NOI $409,868 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,026
Businesses Nearby
160k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 75%
Shops & Services 20%
Groceries 5%
Burger King
Dining
28,875 visits/mo
0.1 miles
Wendy's
Dining
28,281 visits/mo
0.3 miles
McDonald's
Dining
25,072 visits/mo
0.4 miles
BP
Shops & Services
13,285 visits/mo
0.4 miles
Popeyes Louisiana Kitchen
Dining
12,779 visits/mo
0.1 miles
Demographics for 10469, NY
71,571
Population
25,082
Households
2.9
Avg Household Size
39
Median Age
29%
College-Educated
83%
High-School Grad
2.4 sq mi
ZIP Area
29,821
Density / Sq Mi
$76,018
Median Household Income
$45,857
Median Earnings
$1,653
Median Rent
$640,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - 8,450+ sqft strip center with national tenants for sale.
Where is this strip mall located?
The property is located at 3480 Boston Rd The Bronx, NY.
What is the asking price?
The asking price for this property is $5,850,000.
What are key features of this property?
This property features: High‑Traffic Location: Situated on Boston Road with approximately 20,000 cars per day.; Development Potential: R5/C2‑2 zoning allows for building 4 additional stories.; 8,450+ Sqft. strip center currently occupied by national tenants.
