28-Unit Investment Opportunity in
For Sale
$10,800,000
3530 Mickle Ave The, Bronx, NY 10469
Prime income-producing property with modern amenities and strong cash flow.
Property Size17,000 SF
Lot Size0.39 Acres
Days on Market267
Property Features for 3530 Mickle Ave The
General Information
Standard status
Active
Size
17,000 SF
Lot size
0.39 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,698
Building Details
Building Size
17,000 SF
Year Built
2018
Units
28
Listing Agency:
Blue Key Real Estate Brokerage
(718) 921-2280
Listed By:
Reginald Brannen · License #40BR1116315
(718) 921-2280
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 10
Last Checked: Aug 22 at 8:08AM
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 Blue Key Real Estate Brokerage
Investment Insights
Based on property information with market context.
Located in the Williamsbridge section of the Bronx, this 28-unit property offers strong cash flow and modern amenities. The property benefits from a 421a Tax Abatement. All units are fully electric, with tenants responsible for all utilities. Each unit is equipped with individual hot water tanks, stainless steel appliances, and Mitsubishi split-unit heating & cooling systems. A studio supers unit is also included. Additional features include digital video intercoms in each unit, interior & exterior surveillance cameras, and 24 outdoor parking spaces. The property has low operating expenses. The Net Operating Income is $705,068 with a Net Cap Rate of 6.1%. This is a turn-key asset in a thriving Bronx neighborhood.
Key Highlights
- Strong Cash Flow with a $705,068 NOI and 6.1% Net Cap Rate.
- 421a Tax Abatement in place.
- 28 Units with Modern Amenities: Stainless steel appliances, Mitsubishi split‑unit heating & cooling, and digital video intercoms.
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
$679,071
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
6.29%
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%
$13,581,420
$13.6M
Cap Rate 7%
$9,701,014
$9.7M
Cap Rate 9%
$7,545,233
$7.5M
Market Conditions
NOI Build-Up for 17,000 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
$1.06M $62.40/SF
− Vacancy
−$90.7K −$5.34/SF
EGI
$970.1K $57.06/SF
− OpEx
−$291.0K −$17.12/SF
NOI
$679.1K $39.95/SF
Area
Bronx, NY
Vacancy
8.55%
Lease Rate
$62.40 /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%
$13,581,420
Cap Rate 7%
$9,701,014
Cap Rate 9%
$7,545,233
Alternative Uses
Best Use
Industrial
$9.70M
$8.49M – $11.32M
NOI $679,071 @ 7.0% cap · market cap 6.29%
Second Best
Apartment 5plus
$5.59M
$4.89M – $6.52M
NOI $391,062 @ 7.0% cap · market cap 3.62%
Theoretical Best
Warehouse
$11.78M
$10.31M – $13.74M
NOI $824,586 @ 7.0% cap · market cap 7.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,946
Businesses Nearby
Explore this area
Business Placement
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Prime income-producing property with modern amenities and strong cash flow.
Where is this apartment building located?
The property is located at 3530 Mickle Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $10,800,000.
What are key features of this property?
This property features: Strong Cash Flow with a $705,068 NOI and 6.1% Net Cap Rate.; 421a Tax Abatement in place.; 28 Units with Modern Amenities: Stainless steel appliances, Mitsubishi split‑unit heating & cooling, and digital video intercoms.
