Four-Story Mixed-Use
For Sale
$2,350,000
365 E 197th Street, Bronx, NY 10458
Commercial Sale, Bronx, NY
Property Size6,200 SF
Lot Size0.14 Acres
Price / SF$379.03
Days on Market95
Property Features for 365 E 197th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R7B
Elementary school
Bedford Park Elementary School
Elementary school district
Bronx 10
Middle school district
Bronx 10
High school district
Bronx 10
Directions
Decatur Avenue to 197th Street
Standard status
Active
APN
03283-0097
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8688
Utilities
Sewer type
Public Sewer
Heating system
Oil
Water source
Public
Amenities
full basement
garage
Building Details
Year built
1930
Building materials
Brick, Frame
Listing Agency:
All Island Estates Realty Corp
(516) 783-5600
Listed By:
Richard Matt Shane · License #10301216230
(516) 279-8828
Added: May 21
Changed: Aug 19
Last Checked: Aug 23 at 4:06PM
MLS# 1003030
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This brick mixed-use property was built in 1930 and extends across four stories with three three-bedroom apartments, a full basement, a five-car garage, and 10 parking spaces. The building includes 8-foot ceilings, new LED lighting, and 200-amp electrical service. Public water and sewer serve the property, and heating is oil-based. The entire property can be delivered vacant.
The site comprises 0.1383 acres in the Bronx, near Fordham University and positioned between Grand Concourse and Webster Avenue. Surrounding commercial users include Target, Walgreens, Starbucks, Chase Bank, TD Bank, Dunkin’, AutoZone, Burlington, T.J. Maxx, and other national and regional retailers. R7B zoning supports the property’s mixed-use and development-site positioning, subject to applicable regulations.
The site comprises 0.1383 acres in the Bronx, near Fordham University and positioned between Grand Concourse and Webster Avenue. Surrounding commercial users include Target, Walgreens, Starbucks, Chase Bank, TD Bank, Dunkin’, AutoZone, Burlington, T.J. Maxx, and other national and regional retailers. R7B zoning supports the property’s mixed-use and development-site positioning, subject to applicable regulations.
Key Highlights
- R7B‑zoned mixed‑use property with three three‑bedroom apartments
- Four‑story brick building constructed in 1930
- Five‑car garage plus 10 parking spaces
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
$157,490
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
6.70%
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%
$3,149,800
$3.1M
Cap Rate 7%
$2,249,857
$2.2M
Cap Rate 9%
$1,749,889
$1.7M
Market Conditions
NOI Build-Up for 6,200 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
$238.1K $38.40/SF
− Vacancy
−$13.1K −$2.11/SF
EGI
$225.0K $36.29/SF
− OpEx
−$67.5K −$10.89/SF
NOI
$157.5K $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%
$3,149,800
Cap Rate 7%
$2,249,857
Cap Rate 9%
$1,749,889
Alternative Uses
Best Use
Multifamily LT 5
$2.25M
$1.97M – $2.62M
NOI $157,490 @ 7.0% cap · market cap 6.70%
Second Best
Apartment 5plus
$2.04M
$1.78M – $2.38M
NOI $142,623 @ 7.0% cap · market cap 6.07%
Theoretical Best
Warehouse
$4.30M
$3.76M – $5.01M
NOI $300,731 @ 7.0% cap · market cap 12.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,785
Businesses Nearby
Explore this area
Business Placement
Demographics for 10458, NY
81,299
Population
30,592
Households
2.7
Avg Household Size
32
Median Age
16%
College-Educated
68%
High-School Grad
1.2 sq mi
ZIP Area
67,749
Density / Sq Mi
$42,107
Median Household Income
$29,596
Median Earnings
$1,548
Median Rent
$515,700
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Mixed-use property - Brick property with apartments, garage capacity, surface parking, basement space, and R7B zoning in the Bronx.
Where is this mixed-use property located?
The property is located at 365 E 197th Street Bronx, NY.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: R7B‑zoned mixed‑use property with three three‑bedroom apartments; Four‑story brick building constructed in 1930; Five‑car garage plus 10 parking spaces
