Two-Story Retail and Office
For Sale
Contact for pricing
601-607 East 187th Street, Bronx, NY 10458
Two-story walkup building with four retail units and three office units on a corner location at East 187th Street and Arthur Avenue.
Property Size7,500 SF
Price / SF$600
Days on Market100
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Property Features for 601-607 East 187th Street
General Information
Standard status
Active
Size
7,500 SF
Property subtype
Mixed Use
Zoning
R6, C1-4
Additional Details
Office Units
3
Building Details
Year Built
1930
Stories
2
Units
7
Tenancy
Multi
Listing Agency:
Meridian Capital Group Midtown
Listed By:
Shallini Mehra · License #NY 10301207794
(212) 468-5958
Source:
Crexi
Added: Jul 8
Changed: Oct 10
Last Checked: Oct 14 at 10:58PM
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 Meridian Capital Group Midtown
Investment Insights
Based on property information with market context.
Built in 1930, this two-story walkup commercial building is offered for sale and totals 7,500 SF. The property is configured with four retail units and three office units, providing a mixed-use setup within a single building.
The building is located on the northeast corner of East 187th Street and Arthur Avenue in Belmont, described in the remarks as a strong Italian-American neighborhood with active community and cultural events.
With seven total units arranged across two levels, the property offers an owner a straightforward multi-tenant structure spanning both retail and office space.
The building is located on the northeast corner of East 187th Street and Arthur Avenue in Belmont, described in the remarks as a strong Italian-American neighborhood with active community and cultural events.
With seven total units arranged across two levels, the property offers an owner a straightforward multi-tenant structure spanning both retail and office space.
Key Highlights
- Built in 1930, 2‑story walkup commercial building with 7,500 SF
- Tenant mix includes 4 retail units and 3 office units
- Corner location on the northeast corner of East 187th Street and Arthur Avenue (601 East 187th Street / 2398 Arthur Avenue)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$187,819
Cap Rate
4.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,756,380
$3.8M
Cap Rate 7%
$2,683,129
$2.7M
Cap Rate 9%
$2,086,878
$2.1M
Market Conditions
NOI Build-Up for 7,500 SF
Gross rent
$315.0K $42.00/SF
− Vacancy
−$64.6K −$8.61/SF
EGI
$250.4K $33.39/SF
− OpEx
−$62.6K −$8.35/SF
NOI
$187.8K $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 Rate 5%
$3,756,380
Cap Rate 7%
$2,683,129
Cap Rate 9%
$2,086,878
Alternative Uses
Best Use
Office B
$2.68M
$2.35M – $3.13M
NOI $187,819 @ 7.0% cap · market cap 4.17%
Second Best
Retail
$2.26M
$1.97M – $2.63M
NOI $157,878 @ 7.0% cap · market cap 3.51%
Theoretical Best
Warehouse
$5.20M
$4.55M – $6.06M
NOI $363,788 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
3
Office units
Location Intelligence
Trade Area within ½ mile
4,465
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - Two-story walkup building with four retail units and three office units on a corner location at East 187th Street and Arthur Avenue.
Where is this retail space located?
The property is located at 601-607 East 187th Street Bronx, NY.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Built in 1930, 2‑story walkup commercial building with 7,500 SF; Tenant mix includes 4 retail units and 3 office units; Corner location on the northeast corner of East 187th Street and Arthur Avenue (601 East 187th Street / 2398 Arthur Avenue)
