Renovated Mixed-Use
For Sale
$1,449,999
811 Courtlandt Avenue, Bronx, NY 10451
Vacant delivery combines updated residences, a modernized commercial suite, private outdoor space, storage, and laundry facilities.
Property Size2,760 SF
Days on Market111
Property Features for 811 Courtlandt Avenue
General Information
Standard status
Active
Size
2,760 SF
Property subtype
Commercial
Zoning
R7-2
Additional Details
Asking Price
$1,450,000
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$2,218
Amenities
private backyard
onsite storage
laundry facilities
walkout basement
Building Details
Building Size
2,760 SF
Year Built
1920
Buildings
1
Units
4
Listing Agency:
Locqube New York, Inc.
(917) 242-9882
Listed By:
Jeffrie Pena · License #10401261474
(917) 242-9882
Source:
Maurafinnegan
Added: May 13
Changed: Aug 29
Last Checked: Aug 30 at 5:44PM
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 Locqube New York, Inc.
Investment Insights
Based on property information with market context.
This renovated mixed-use property includes three updated residential units with a combined 7.5 bedrooms and 3.5 bathrooms, along with a refreshed ground-floor commercial space. Residential interiors feature stainless steel appliances, grey quartz countertops, flint grey cabinetry, hardwood flooring, open living areas, and updated bathrooms. The property will be delivered vacant at closing, providing flexibility for leasing, occupancy, or repositioning. A private backyard, onsite storage, laundry facilities, and walkout basement add practical utility.
Located at 811 Courtlandt Avenue in the Bronx, the property is near the Melrose Metro-North station, with a stated 30-minute commute to Midtown Manhattan. Major highways, Starbucks, local dining, and an adjacent community garden are also nearby. R7-2 zoning is in place, and the property was built in 1920. The projected cap rate is 8.34%, based on the source underwriting.
Located at 811 Courtlandt Avenue in the Bronx, the property is near the Melrose Metro-North station, with a stated 30-minute commute to Midtown Manhattan. Major highways, Starbucks, local dining, and an adjacent community garden are also nearby. R7-2 zoning is in place, and the property was built in 1920. The projected cap rate is 8.34%, based on the source underwriting.
Key Highlights
- Three residential units totaling 7.5 bedrooms and 3.5 bathrooms
- Modernized ground‑floor commercial space delivered vacant at closing
- Residential finishes include stainless steel appliances, quartz countertops, hardwood floors, and updated bathrooms
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
$70,108
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
4.84%
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%
$1,402,160
$1.4M
Cap Rate 7%
$1,001,543
$1.0M
Cap Rate 9%
$778,978
$779.0K
Market Conditions
NOI Build-Up for 2,760 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
$106.0K $38.40/SF
− Vacancy
−$5.8K −$2.11/SF
EGI
$100.2K $36.29/SF
− OpEx
−$30.0K −$10.89/SF
NOI
$70.1K $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%
$1,402,160
Cap Rate 7%
$1,001,543
Cap Rate 9%
$778,978
Alternative Uses
Best Use
Multifamily LT 5
$1.00M
$876.4K – $1.17M
NOI $70,108 @ 7.0% cap · market cap 4.84%
Second Best
Apartment 5plus
$907.0K
$793.6K – $1.06M
NOI $63,490 @ 7.0% cap · market cap 4.38%
Theoretical Best
Warehouse
$1.91M
$1.67M – $2.23M
NOI $133,874 @ 7.0% cap · market cap 9.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
6,598
Businesses Nearby
Explore this area
Business Placement
Demographics for 10451, NY
51,536
Population
21,850
Households
2.4
Avg Household Size
36
Median Age
21%
College-Educated
74%
High-School Grad
1.1 sq mi
ZIP Area
46,851
Density / Sq Mi
$37,111
Median Household Income
$35,765
Median Earnings
$1,269
Median Rent
$263,500
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?
Mixed-use property - Vacant delivery combines updated residences, a modernized commercial suite, private outdoor space, storage, and laundry facilities.
Where is this mixed-use property located?
The property is located at 811 Courtlandt Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,449,999.
What are key features of this property?
This property features: Three residential units totaling 7.5 bedrooms and 3.5 bathrooms; Modernized ground‑floor commercial space delivered vacant at closing; Residential finishes include stainless steel appliances, quartz countertops, hardwood floors, and updated bathrooms
