Three-Story Mixed-Use
For Sale
$999,000
511 E 183rd Street, Bronx, NY 10458
Three-story building with ground-floor retail and two residential apartments, including a 3-bedroom and a 4-bedroom unit.
Property Size4,280 SF
Price / SF$233.41
Days on Market46
Property Features for 511 E 183rd Street
General Information
Standard status
Active
Size
4,280 SF
Property subtype
Commercial
Zoning
R7-1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,074
Building Details
Building Size
4,280 SF
Year Built
1901
Buildings
1
Stories
3
Units
3
Listing Agency:
Charles Rutenberg Realty, Inc.
(516) 575-7500
Listed By:
Georgina T. Maynard · License #10301221438
(914) 319-3634
Source:
Mydreamhomerealty
Added: Jul 25
Changed: Sep 8
Last Checked: Aug 25 at 9:25AM
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.
This three-story mixed-use building includes one ground-floor retail storefront and two residential apartments. The retail space is occupied, while both residential apartments will be delivered vacant at closing. Unit mix consists of one 3-bedroom apartment and one 4-bedroom apartment. The building contains approximately 4,280 square feet and was built in 1901.
The property is located just off Fordham Road in the Bronx, in a commercial corridor with convenient access to shopping, restaurants, schools, major highways, and public transportation. Transit access includes the B, D, and 4 subway lines, along with multiple bus routes.
Showings are by appointment only, and the commercial tenant should not be disturbed.
The property is located just off Fordham Road in the Bronx, in a commercial corridor with convenient access to shopping, restaurants, schools, major highways, and public transportation. Transit access includes the B, D, and 4 subway lines, along with multiple bus routes.
Showings are by appointment only, and the commercial tenant should not be disturbed.
Key Highlights
- Three‑story mixed‑use building with one ground‑floor retail storefront plus two residential apartments
- Retail space is occupied; both residential apartments will be delivered vacant at closing
- Residential unit mix: one 3‑bedroom apartment and one 4‑bedroom apartment
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
$90,096
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
9.02%
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%
$1,801,920
$1.8M
Cap Rate 7%
$1,287,086
$1.3M
Cap Rate 9%
$1,001,067
$1.0M
Market Conditions
NOI Build-Up for 4,280 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
$143.8K $33.60/SF
− Vacancy
−$15.1K −$3.53/SF
EGI
$128.7K $30.07/SF
− OpEx
−$38.6K −$9.02/SF
NOI
$90.1K $21.05/SF
Area
Bronx, NY
Vacancy
10.50%
Lease Rate
$33.60 /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%
$1,801,920
Cap Rate 7%
$1,287,086
Cap Rate 9%
$1,001,067
Alternative Uses
Best Use
Multifamily LT 5
$1.55M
$1.36M – $1.81M
NOI $108,719 @ 7.0% cap · market cap 10.88%
Second Best
Apartment 5plus
$1.41M
$1.23M – $1.64M
NOI $98,456 @ 7.0% cap · market cap 9.86%
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
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
6,700
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story building with ground-floor retail and two residential apartments, including a 3-bedroom and a 4-bedroom unit.
Where is this mixed-use property located?
The property is located at 511 E 183rd Street 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: Three‑story mixed‑use building with one ground‑floor retail storefront plus two residential apartments; Retail space is occupied; both residential apartments will be delivered vacant at closing; Residential unit mix: one 3‑bedroom apartment and one 4‑bedroom apartment
