New Construction Mixed-Use
For Sale
Contact for pricing
790 Allerton Avenue, Bronx, NY 10467
Seven-story building combining residential, office, and retail components in an established Bronx neighborhood.
Property Size70,116 SF
Lot Size0.41 Acres
Price / SF$570.48
Days on Market15
Property Features for 790 Allerton Avenue
General Information
Standard status
Active
Size
70,116 SF
Class
A
Total Parking Spaces
60
Lot size
0.41 Acres
Property subtype
Retail, Mixed Use
Zoning
R6, C8-1, C1-3
Additional Details
Asking Price
$40,000,000
Corner Location
Yes
Building Details
Year Built
2022
Buildings
1
Stories
7
Units
43
Building Size
70,116 SF
Tenancy
Multi
Listing Agency:
GLOBAL REALTY DEVELOPMENT LLC
Listed By:
Ian Stewart · License #10491207909
Source:
Crexi
Added: Aug 20
Changed: Sep 3
Last Checked: Sep 3 at 2:39AM
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.
Completed in 2022, this seven-story mixed-use property at 790 Allerton Avenue combines 43 residential units with approximately 21,010 SF of office space and approximately 12,529 SF of retail space. The building contains approximately 70,116 SF of total area and occupies an approximately 17,722 SF corner lot.
The property is located in the Allerton section of the Bronx, NY 10467, along Allerton Avenue and near surrounding residential and commercial uses. Its zoning designations are R6, C8-1, and C1-3. The combination of residential, office, and retail components creates a diversified large-scale commercial asset within an established New York City submarket.
The property is located in the Allerton section of the Bronx, NY 10467, along Allerton Avenue and near surrounding residential and commercial uses. Its zoning designations are R6, C8-1, and C1-3. The combination of residential, office, and retail components creates a diversified large-scale commercial asset within an established New York City submarket.
Key Highlights
- Approximately 70,116 SF of mixed‑use building area
- 43 residential units
- Approximately 21,010 SF of office space
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
$1,906,384
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
4.77%
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%
$38,127,680
$38.1M
Cap Rate 7%
$27,234,057
$27.2M
Cap Rate 9%
$21,182,044
$21.2M
Market Conditions
NOI Build-Up for 70,116 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
$3.20M $45.60/SF
− Vacancy
−$655.4K −$9.35/SF
EGI
$2.54M $36.25/SF
− OpEx
−$635.5K −$9.06/SF
NOI
$1.91M $27.19/SF
Area
ZIP 10467
Vacancy
20.50%
Lease Rate
$45.60 /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%
$38,127,680
Cap Rate 7%
$27,234,057
Cap Rate 9%
$21,182,044
Alternative Uses
Best Use
Office B
$27.23M
$23.83M – $31.77M
NOI $1,906,384 @ 7.0% cap · market cap 4.77%
Second Best
Apartment 5plus
$21.80M
$19.07M – $25.43M
NOI $1,525,738 @ 7.0% cap · market cap 3.81%
Theoretical Best
Warehouse
$48.59M
$42.51M – $56.68M
NOI $3,400,982 @ 7.0% cap · market cap 8.50%
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
2,581
Businesses Nearby
Explore this area
Business Placement
Demographics for 10467, NY
103,660
Population
40,582
Households
2.6
Avg Household Size
36
Median Age
22%
College-Educated
75%
High-School Grad
2.3 sq mi
ZIP Area
45,070
Density / Sq Mi
$47,806
Median Household Income
$36,949
Median Earnings
$1,505
Median Rent
$425,500
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 - Seven-story building combining residential, office, and retail components in an established Bronx neighborhood.
Where is this mixed-use property located?
The property is located at 790 Allerton Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $40,000,000.
What are key features of this property?
This property features: Approximately 70,116 SF of mixed‑use building area; 43 residential units; Approximately 21,010 SF of office space
