Vacant Multifamily Building in
For Sale
Contact for pricing
Pending
349 Concord Avenue, Bronx, NY 10454
Three-story brick building in Mott Haven with renovation potential.
Property Size2,180 SF
Days on Market113
Property Features for 349 Concord Avenue
General Information
Standard status
Pending
Size
2,180 SF
Property subtype
Retail, Multifamily
Zoning
M1-2
Investment Type
Value Add
Building Details
Year Built
1910
Buildings
1
Listing Agency:
Curb Capital LLC
Listed By:
Adam Traub · License #NY 104912098848
Source:
Crexi
Added: May 14
Changed: Sep 3
Last Checked: Sep 1 at 11:49PM
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 Curb Capital LLC
Investment Insights
Based on property information with market context.
This is a vacant three-family building, constructed of brick and spanning three stories. It is located in the Mott Haven neighborhood. The property presents a value-add and renovation opportunity. The annual real estate taxes are approximately $2,143. The property is suitable for investors, developers, or end-users. It offers convenient access to Manhattan and public transportation. The building has a size of 2,180 square feet and presents an opportunity to acquire a multifamily asset with potential in the Bronx.
Key Highlights
- Vacant 3‑family building offering immediate value‑add / renovation opportunity.
- Prime Mott Haven location in a dynamic neighborhood.
- Low annual real estate taxes (approximately $2,143).
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
$55,375
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
6.71%
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%
$1,107,500
$1.1M
Cap Rate 7%
$791,071
$791.1K
Cap Rate 9%
$615,278
$615.3K
Market Conditions
NOI Build-Up for 2,180 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
$83.7K $38.40/SF
− Vacancy
−$4.6K −$2.11/SF
EGI
$79.1K $36.29/SF
− OpEx
−$23.7K −$10.89/SF
NOI
$55.4K $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%
$1,107,500
Cap Rate 7%
$791,071
Cap Rate 9%
$615,278
Alternative Uses
Best Use
Multifamily LT 5
$791.1K
$692.2K – $922.9K
NOI $55,375 @ 7.0% cap · market cap 6.71%
Second Best
Apartment 5plus
$716.4K
$626.9K – $835.8K
NOI $50,148 @ 7.0% cap · market cap 6.08%
Theoretical Best
Warehouse
$1.51M
$1.32M – $1.76M
NOI $105,741 @ 7.0% cap · market cap 12.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,416
Businesses Nearby
Explore this area
Business Placement
Demographics for 10454, NY
40,232
Population
15,397
Households
2.6
Avg Household Size
33
Median Age
14%
College-Educated
62%
High-School Grad
1.1 sq mi
ZIP Area
36,575
Density / Sq Mi
$27,500
Median Household Income
$31,243
Median Earnings
$1,064
Median Rent
$780,800
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 - Three-story brick building in Mott Haven with renovation potential.
Where is this triplex located?
The property is located at 349 Concord Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Vacant 3‑family building offering immediate value‑add / renovation opportunity.; Prime Mott Haven location in a dynamic neighborhood.; Low annual real estate taxes (approximately $2,143).
