Modern Multi-Family Home in
For Sale
$899,000
Pending
721 Thieriot Ave The, Bronx, NY 10473
Cash-producing multi-family home near Soundview Ferry and waterfront.
Property Size1,932 SF
Days on Market115
Property Features for 721 Thieriot Ave The
General Information
Standard status
Pending
Size
1,932 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$7,045
Building Details
Building Size
1,932 SF
Year Built
1989
Units
2
Listing Agency:
(917) 724-4789
Listed By:
Adrian Romero
(917) 724-4789
Source:
Elliman
Added: Apr 24
Changed: Aug 12
Last Checked: Aug 15 at 6:37AM
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 Adrian Romero
Investment Insights
Based on property information with market context.
Located in the heart of Soundview, 721 Thieriot Ave is a multi-family home featuring a 3-bedroom, 2-bath unit with a balcony, a 2-bedroom, 1-bath unit, and a finished efficiency basement with natural light and direct access to a private backyard. The property's location offers proximity to the Soundview Ferry, waterfront walkways, green spaces, and a YMCA. The property is located in a very bikeable area (bike score of 70), very walkable area (walk score of 80) with excellent transit (transit score of 72).
Key Highlights
- Cash‑producing multi‑family home with income potential
- Modern construction (built 1989) designed for easy maintenance
- Three units: 3‑bedroom/2‑bath with balcony, 2‑bedroom/1‑bath, and finished basement efficiency with private backyard access
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
$49,076
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
5.46%
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%
$981,520
$981.5K
Cap Rate 7%
$701,086
$701.1K
Cap Rate 9%
$545,289
$545.3K
Market Conditions
NOI Build-Up for 1,932 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
$74.2K $38.40/SF
− Vacancy
−$4.1K −$2.11/SF
EGI
$70.1K $36.29/SF
− OpEx
−$21.0K −$10.89/SF
NOI
$49.1K $25.40/SF
Area
Bronx, NY
Vacancy
5.50%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
30.00%
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%
$981,520
Cap Rate 7%
$701,086
Cap Rate 9%
$545,289
Alternative Uses
Best Use
Multifamily LT 5
$701.1K
$613.5K – $817.9K
NOI $49,076 @ 7.0% cap · market cap 5.46%
Second Best
Apartment 5plus
$634.9K
$555.5K – $740.7K
NOI $44,443 @ 7.0% cap · market cap 4.94%
Theoretical Best
Warehouse
$1.34M
$1.17M – $1.56M
NOI $93,712 @ 7.0% cap · market cap 10.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,355
Businesses Nearby
Explore this area
Business Placement
Demographics for 10473, NY
62,692
Population
23,234
Households
2.7
Avg Household Size
38
Median Age
24%
College-Educated
75%
High-School Grad
2.1 sq mi
ZIP Area
29,853
Density / Sq Mi
$50,609
Median Household Income
$40,049
Median Earnings
$1,131
Median Rent
$586,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Cash-producing multi-family home near Soundview Ferry and waterfront.
Where is this multifamily property located?
The property is located at 721 Thieriot Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Cash‑producing multi‑family home with income potential; Modern construction (built 1989) designed for easy maintenance; Three units: 3‑bedroom/2‑bath with balcony, 2‑bedroom/1‑bath, and finished basement efficiency with private backyard access
