Four-Story Mixed-Use
For Sale
Contact for pricing
596 grand concourse, Bronx, NY 10451
Mixed-use building with restaurant, office, and two one-bedroom residential units across four floors.
Property Size1,574 SF
Price / SF$857.69
Days on Market8
Property Features for 596 grand concourse
General Information
Standard status
Active
Size
1,574 SF
Property subtype
Mixed Use
Building Details
Year Built
1931
Stories
4
Tenancy
Multi
Listing Agency:
NARDIN ELITE ASSOCIATES INC
(718) 798-6100
Listed By:
Leslie Bhagwandin
Source:
Crexi
Added: Aug 13
Changed: Aug 18
Last Checked: Aug 19 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 NARDIN ELITE ASSOCIATES INC
Investment Insights
Based on property information with market context.
This four-story mixed-use property, built in 1931, combines commercial and residential components within one building. The first floor is configured as a restaurant, while the second floor provides office space. One-bedroom apartments occupy the third and fourth floors, creating a vertically integrated mix of restaurant, office, and residential uses.
The property is located at 596 Grand Concourse in the Bronx, New York. Its combination of street-level restaurant space, dedicated office area, and two residential apartments offers a varied-use configuration within a single asset.
The property is located at 596 Grand Concourse in the Bronx, New York. Its combination of street-level restaurant space, dedicated office area, and two residential apartments offers a varied-use configuration within a single asset.
Key Highlights
- Four‑story mixed‑use building constructed in 1931
- First‑floor restaurant space
- Second‑floor office space
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
$39,417
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
2.92%
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%
$788,340
$788.3K
Cap Rate 7%
$563,100
$563.1K
Cap Rate 9%
$437,967
$438.0K
Market Conditions
NOI Build-Up for 1,574 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
$66.1K $42.00/SF
− Vacancy
−$13.6K −$8.61/SF
EGI
$52.6K $33.39/SF
− OpEx
−$13.1K −$8.35/SF
NOI
$39.4K $25.04/SF
Area
Bronx, NY
Vacancy
20.50%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
25.00%
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%
$788,340
Cap Rate 7%
$563,100
Cap Rate 9%
$437,967
Alternative Uses
Best Use
Office B
$563.1K
$492.7K – $657.0K
NOI $39,417 @ 7.0% cap · market cap 2.92%
Second Best
Specialty Retail
$549.4K
$480.8K – $641.0K
NOI $38,461 @ 7.0% cap · market cap 2.85%
Theoretical Best
Warehouse
$1.09M
$954.3K – $1.27M
NOI $76,347 @ 7.0% cap · market cap 5.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,636
Businesses Nearby
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
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building with restaurant, office, and two one-bedroom residential units across four floors.
Where is this mixed-use property located?
The property is located at 596 grand concourse Bronx, NY.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Four‑story mixed‑use building constructed in 1931; First‑floor restaurant space; Second‑floor office space
