Four-Story Mixed-Use
New
For Sale
$1,350,000
596 grand concourse, Bronx, NY 10451
MULTI_FAMILY - bronx, NY
Property Size3,275 SF
Lot Size0.04 Acres
Price / SF$412.21
Days on Market3
Property Features for 596 grand concourse
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Bedrooms
2
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 1, Bathroom 4, Bathroom 2, Bathroom 3, Bedroom 1
Security features
Security System
Subdivision
West Bronx
Standard status
Active
APN
2443-41
Size
3,275 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
21202
Utilities
Heating system
Steam, Natural Gas
Water source
Public
Building Details
Year built
1931
Floors in Building
4
Flooring type
Laminate, Tile
Listing Agency:
NARDIN ELITE ASSOCIATES INC
(718) 798-6100
Listed By:
Leslie Bhagwandin
Added: Aug 12
Changed: Aug 14
Last Checked: Aug 14 at 3:06AM
MLS# 11931432
Copyright © 2026 My State 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 four-story mixed-use property contains 3,275 square feet on a 0.0361-acre lot. The first floor is configured as a restaurant, with office space on the second floor. Each of the upper two floors includes a one-bedroom apartment, creating a combination of commercial and residential occupancy within one building.
Constructed in 1931, the property features tile and laminate flooring, natural gas and steam heating, and a public water supply. Its vertical layout provides distinct restaurant, office, and apartment areas within the same asset.
Constructed in 1931, the property features tile and laminate flooring, natural gas and steam heating, and a public water supply. Its vertical layout provides distinct restaurant, office, and apartment areas within the same asset.
Key Highlights
- 3,275‑square‑foot mixed‑use building
- 0.0361‑acre lot
- Four‑story layout with restaurant, office, and two apartments
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
$82,014
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
6.08%
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%
$1,640,280
$1.6M
Cap Rate 7%
$1,171,629
$1.2M
Cap Rate 9%
$911,267
$911.3K
Market Conditions
NOI Build-Up for 3,275 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
$137.6K $42.00/SF
− Vacancy
−$28.2K −$8.61/SF
EGI
$109.4K $33.39/SF
− OpEx
−$27.3K −$8.35/SF
NOI
$82.0K $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%
$1,640,280
Cap Rate 7%
$1,171,629
Cap Rate 9%
$911,267
Alternative Uses
Best Use
Office B
$1.17M
$1.03M – $1.37M
NOI $82,014 @ 7.0% cap · market cap 6.08%
Second Best
Specialty Retail
$1.14M
$1.00M – $1.33M
NOI $80,025 @ 7.0% cap · market cap 5.93%
Theoretical Best
Warehouse
$2.27M
$1.99M – $2.65M
NOI $158,854 @ 7.0% cap · market cap 11.77%
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 property combining restaurant, office, and residential space across four levels.
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: 3,275‑square‑foot mixed‑use building; 0.0361‑acre lot; Four‑story layout with restaurant, office, and two apartments
