Three-Story Mixed-Use
511 E 183rd St The Bronx, NY 10458
New
For Sale
$999,000
Three-story mixed-use building with ground-floor retail and two apartments, with residential units to be delivered vacant at closing.
Property Size4,280 SF
Price / SF$233.41
Days on Market3
Property Features for 511 E 183rd St The
General Information
Standard status
Active
Size
4,280 SF
Property subtype
Commercial
Building Details
Year Built
1901
Listing Agency:
Charles Rutenberg Realty, Inc.
(914) 319-3634
Listed By:
Georgina T. Maynard
(914) 319-3634
Source:
Elliman
Added: Jul 28
Changed: Jul 29
Last Checked: Jul 29 at 3:56PM
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 Charles Rutenberg Realty, Inc.
Investment Insights
Based on property information with market context.
Three-story mixed-use building with approximately 4,280 square feet. The property includes one ground-floor retail storefront and two residential apartments: one 3-bedroom unit and one 4-bedroom unit. Both residential apartments will be delivered vacant at closing, while the retail space is currently occupied, providing immediate income alongside the residential component.
The property is located at 511 E 183rd St in The Bronx, just off Fordham Road. The surrounding area provides access to shopping, restaurants, schools, major highways, and public transportation, including the B, D, and 4 subway lines and multiple bus routes.
Built in 1901 and classified as Tax Class 1, the building offers a practical mixed-use structure for investors, owner-users, or 1031 exchange buyers seeking an in-place retail tenant with residential income potential through vacancy delivery at closing.
The property is located at 511 E 183rd St in The Bronx, just off Fordham Road. The surrounding area provides access to shopping, restaurants, schools, major highways, and public transportation, including the B, D, and 4 subway lines and multiple bus routes.
Built in 1901 and classified as Tax Class 1, the building offers a practical mixed-use structure for investors, owner-users, or 1031 exchange buyers seeking an in-place retail tenant with residential income potential through vacancy delivery at closing.
Key Highlights
- Approximately 4,280 SF three‑story mixed‑use building with one ground‑floor retail storefront
- One 3‑bedroom and one 4‑bedroom apartment, both delivered vacant at closing
- Retail space is occupied for immediate income
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $143.8k | $33.60 |
| − Vacancy | −$15.1k | −$3.53 |
| EGI | $128.7k | $30.07 |
| − OpEx | −$38.6k | −$9.02 |
| NOI | $90.1k | $21.05 |
4,280 SF · lease $33.60/SF/yr · vacancy 10.50% · expense 30.00%
Alternative Uses
Best Use
Apartment 5plus
$1.41M
$1.23M – $1.64M
NOI $98,456 @ 7.0% cap · market cap 9.86%
Second Best
Retail
$1.29M
$1.13M – $1.50M
NOI $90,096 @ 7.0% cap · market cap 9.02%
Theoretical Best
Warehouse
$2.97M
$2.60M – $3.46M
NOI $207,602 @ 7.0% cap · market cap 20.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story mixed-use building with ground-floor retail and two apartments, with residential units to be delivered vacant at closing.
Where is this mixed-use property located?
The property is located at 511 E 183rd St The Bronx, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Approximately 4,280 SF three‑story mixed‑use building with one ground‑floor retail storefront; One 3‑bedroom and one 4‑bedroom apartment, both delivered vacant at closing; Retail space is occupied for immediate income
