Bronx Mixed-Use Development
For Sale
$1,400,000
616 East 168 St The, Bronx, NY 10456
Four-story mixed-use property with development potential in the Bronx.
Property Size4,792 SF
Lot Size0.12 Acres
Days on Market109
Property Features for 616 East 168 St The
General Information
Standard status
Active
Size
4,792 SF
Lot size
0.12 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$5,710
Building Details
Building Size
4,792 SF
Year Built
1915
Units
4
Listing Agency:
Dom Realty of NY Inc
(718) 263-4700
Listed By:
Rafael Normatov
(718) 263-4700
Source:
Elliman
Added: May 15
Changed: Aug 7
Last Checked: Aug 30 at 6:30PM
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 Dom Realty of NY Inc
Investment Insights
Based on property information with market context.
This four-story mixed-use property in the Bronx presents a development opportunity. The property is situated on a 26x196 ft lot and is zoned R6. It offers approximately 13,000 buildable square feet. The property will be delivered vacant with three vacant units, including the store, first, and second floors. The lease for the third floor expires in May 2028. The location has a bike score of 78, indicating it is very bikeable, a walk score of 92, designating it as a walker's paradise, and a transit score of 100, marking it as a rider's paradise. This property is ideal for developers or investors looking to maximize density in a growing residential corridor.
Key Highlights
- Prime development opportunity with R6 zoning and approximately 13,000 buildable square feet
- Delivered vacant with three vacant units, including the store, first, and second floors
- Excellent transit score (100), a Rider's Paradise
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
$97,038
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
6.93%
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%
$1,940,760
$1.9M
Cap Rate 7%
$1,386,257
$1.4M
Cap Rate 9%
$1,078,200
$1.1M
Market Conditions
NOI Build-Up for 4,792 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
$172.5K $36.00/SF
− Vacancy
−$17.3K −$3.60/SF
EGI
$155.3K $32.40/SF
− OpEx
−$58.2K −$12.15/SF
NOI
$97.0K $20.25/SF
Area
ZIP 10456
Vacancy
10.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,940,760
Cap Rate 7%
$1,386,257
Cap Rate 9%
$1,078,200
Alternative Uses
Best Use
Mixed Use
$1.39M
$1.21M – $1.62M
NOI $97,038 @ 7.0% cap · market cap 6.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.43M
$2.12M – $2.83M
NOI $169,752 @ 7.0% cap · market cap 12.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,441
Businesses Nearby
Explore this area
Business Placement
Demographics for 10456, NY
93,412
Population
33,321
Households
2.8
Avg Household Size
34
Median Age
14%
College-Educated
68%
High-School Grad
1.1 sq mi
ZIP Area
84,920
Density / Sq Mi
$35,676
Median Household Income
$30,340
Median Earnings
$1,194
Median Rent
$428,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four-story mixed-use property with development potential in the Bronx.
Where is this mixed-use property located?
The property is located at 616 East 168 St The Bronx, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Prime development opportunity with R6 zoning and approximately 13,000 buildable square feet; Delivered vacant with three vacant units, including the store, first, and second floors; Excellent transit score (100), a Rider's Paradise
