Two-Unit Retail
For Sale
Contact for pricing
6691 Broadway, Bronx, NY 10471
Newly constructed commercial premises arranged across two stories in North Riverdale.
Property Size2,200 SF
Price / SF$681.82
Days on Market17
Property Features for 6691 Broadway
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Retail, Office
Zoning
R6, R3A, C1-2
Additional Details
Office Units
2
Building Details
Year Built
2023
Buildings
1
Stories
2
Units
2
Tenancy
Single
Listing Agency:
GLOBAL REALTY DEVELOPMENT LLC
Listed By:
Ian Stewart · License #10491207909
Source:
Crexi
Added: Aug 18
Changed: Sep 2
Last Checked: Sep 2 at 2:06PM
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 GLOBAL REALTY DEVELOPMENT LLC
Investment Insights
Based on property information with market context.
This retail property comprises 2,200 square feet within a two-story commercial building completed in 2023. The available space is divided into two separate units, each measuring approximately 1,100 square feet, offering a straightforward configuration for separate occupants or an owner-user arrangement.
The property is located at 6691 Broadway in North Riverdale, within the northwest Bronx. Its setting places the building near Riverdale and Kingsbridge, with established residential surroundings nearby. Zoning is identified as R6, R3A, and C1-2.
The property is located at 6691 Broadway in North Riverdale, within the northwest Bronx. Its setting places the building near Riverdale and Kingsbridge, with established residential surroundings nearby. Zoning is identified as R6, R3A, and C1-2.
Key Highlights
- 2,200 SF of retail space in a two‑story building
- Completed in 2023
- Two separate units of approximately 1,100 SF each
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
$55,094
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
3.67%
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%
$1,101,880
$1.1M
Cap Rate 7%
$787,057
$787.1K
Cap Rate 9%
$612,156
$612.2K
Market Conditions
NOI Build-Up for 2,200 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
$92.4K $42.00/SF
− Vacancy
−$18.9K −$8.61/SF
EGI
$73.5K $33.39/SF
− OpEx
−$18.4K −$8.35/SF
NOI
$55.1K $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%
$1,101,880
Cap Rate 7%
$787,057
Cap Rate 9%
$612,156
Alternative Uses
Best Use
Office B
$787.1K
$688.7K – $918.2K
NOI $55,094 @ 7.0% cap · market cap 3.67%
Second Best
Retail
$661.6K
$578.9K – $771.9K
NOI $46,311 @ 7.0% cap · market cap 3.09%
Theoretical Best
Warehouse
$1.52M
$1.33M – $1.78M
NOI $106,711 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
1,633
Businesses Nearby
Explore this area
Business Placement
Demographics for 10471, NY
25,121
Population
9,453
Households
2.7
Avg Household Size
44
Median Age
58%
College-Educated
94%
High-School Grad
1.7 sq mi
ZIP Area
14,777
Density / Sq Mi
$108,738
Median Household Income
$65,261
Median Earnings
$1,729
Median Rent
$406,500
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?
Retail space - Newly constructed commercial premises arranged across two stories in North Riverdale.
Where is this retail space located?
The property is located at 6691 Broadway Bronx, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 2,200 SF of retail space in a two‑story building; Completed in 2023; Two separate units of approximately 1,100 SF each
