Multi-Building Industrial
5 Canal Place, Bronx, NY 10451
For Sale
$9,999,999
Two vacant structures combine adaptable industrial space with freight elevators and loading access.
Property Size56,200 SF
Lot Size0.42 Acres
Price / SF$177.94
Days on Market82
Property Features for 5 Canal Place
General Information
Standard status
Size
Class
Lot size
Property subtype
Zoning
Site & Location
Highway Access
Fenced Yard
Outdoor Storage
Warehouse & Industrial
Dock-High Doors
Drive-In Doors
Conditioned Warehouse
Additional Details
Property Use
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Serhant East End LLC
(646) 480-7665
Listed By:
Damian Andraka SFR
(516) 852-0368
Source:
Adamstreetrealty
Added: Aug 20
Changed: Nov 8
Last Checked: Nov 8 at 5:04PM
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 Serhant East End LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The South Bronx property brings together two vacant industrial buildings with approximately 56,200 square feet across three- and five-story structures. The three-story building contains approximately 20,950 square feet, two large gate doors, and a street-level drive-in freight elevator. The five-story building contributes approximately 35,250 square feet and has climate control on every floor, two loading-dock gate doors, and an 8,000-pound freight elevator serving each floor. A passenger elevator and two staircases provide additional vertical circulation. The site also includes a gated side yard for parking or outdoor storage.
Located at 2564 Park Avenue and 5 Canal Place, the buildings share a 0.415-acre lot. The property is one block from the 138th Street 4/5 subway station and I-87, and three blocks from the Madison Avenue Bridge into Manhattan. Truck access and circulation are also noted among the site features.
Located at 2564 Park Avenue and 5 Canal Place, the buildings share a 0.415-acre lot. The property is one block from the 138th Street 4/5 subway station and I-87, and three blocks from the Madison Avenue Bridge into Manhattan. Truck access and circulation are also noted among the site features.
Key Highlights
- Approximately 56,200 SF across two industrial buildings
- 20,950 SF, three‑story building with two large gate doors and a drive‑in freight elevator
- 35,250 SF, five‑story building with climate control on each floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$861,236
Cap Rate
8.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$17,224,720
$17.2M
Cap Rate 7%
$12,303,371
$12.3M
Cap Rate 9%
$9,569,289
$9.6M
Market Conditions
NOI Build-Up for 56,200 SF
Gross rent
$1.08M $19.20/SF
− Vacancy
−$65.8K −$1.17/SF
EGI
$1.01M $18.03/SF
− OpEx
−$152.0K −$2.70/SF
NOI
$861.2K $15.32/SF
Area
Bronx County, NY
Vacancy
6.10%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$17,224,720
Cap Rate 7%
$12,303,371
Cap Rate 9%
$9,569,289
Alternative Uses
Best Use
Warehouse
$12.30M
$10.77M – $14.35M
NOI $861,236 @ 7.0% cap · market cap 8.61%
Second Best
Industrial
$11.40M
$9.97M – $13.30M
NOI $797,910 @ 7.0% cap · market cap 7.98%
Theoretical Best
Office A
$26.82M
$23.46M – $31.28M
NOI $1,877,093 @ 7.0% cap · market cap 18.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Dock-high doors
2
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
5,870
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10451, NY
51,536
Population
21,850
Households
2.4
Avg Household Size
36
Median Age
21%
College-Educated
74%
High-School Grad
1.1 sq mi
ZIP Area
46,851
Density / Sq Mi
$37,111
Median Household Income
$35,765
Median Earnings
$1,269
Median Rent
$263,500
Median Home Value
Market
Properties on Market for Warehouses in Bronx
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Warehouse - Two vacant structures combine adaptable industrial space with freight elevators and loading access.
Where is this warehouse located?
The property is located at 5 Canal Place Bronx, NY.
What is the asking price?
The asking price for this property is $9,999,999.
What are key features of this property?
This property features: Approximately 56,200 SF across two industrial buildings; 20,950 SF, three‑story building with two large gate doors and a drive‑in freight elevator; 35,250 SF, five‑story building with climate control on each floor
