Bronx Retail/Office Building with
For Sale
Contact for pricing
840 Westchester Avenue, Bronx, NY 10459
Two-story retail/office building with parking garage and development potential.
Property Size53,705 SF
Price / SF$372.40
Days on Market153
Property Features for 840 Westchester Avenue
General Information
Standard status
Active
Size
53,705 SF
Class
B
Total Parking Spaces
74
Property subtype
Retail, Office, Mixed Use
Zoning
R7-1 / C1-4
Occupancy
75%
Lease Type
Gross
Net Operating Income
$1,867,853
Building Details
Year Built
2007
Buildings
1
Stories
2
Units
74
Tenancy
Multi
Listing Agency:
Capri Industrial Partners
Listed By:
Joseph Barretta · License #10491212764
Source:
Crexi
Added: May 11
Changed: Sep 25
Last Checked: Oct 9 at 5:33PM
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 Capri Industrial Partners
Investment Insights
Based on property information with market context.
Located on Westchester Avenue in the Bronx, NY, 840 Westchester Avenue is a two-story mixed-use building featuring retail and office spaces, along with an indoor parking garage with 74 car spaces. The property includes four units. Situated between Longwood Avenue and East 161st Street, the building offers 174 feet of combined frontage and direct access to the 2 and 5 subway lines. The building spans 53,705 gross square feet and includes two retail units, two office units, and a below-grade parking structure. Current tenants include Dollar Tree, Children's Health Fund, St. Dominic's Home, and Empire Parking. The property has 83,321 SF of unused air rights, allowing for a total buildable square footage of up to 137,026 SF with CF Bonus. The zoning is R7-1 / C1-4.
Key Highlights
- Prime location on Westchester Avenue retail corridor with high visibility and 174 feet of frontage.
- Direct access to the 2 and 5 subway lines.
- Significant development opportunity with 83,321 SF of unused air rights, allowing for up to 137,026 SF of buildable space with CF Bonus.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,344,907
Cap Rate
6.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$26,898,140
$26.9M
Cap Rate 7%
$19,212,957
$19.2M
Cap Rate 9%
$14,943,411
$14.9M
Market Conditions
NOI Build-Up for 53,705 SF
Gross rent
$2.26M $42.00/SF
− Vacancy
−$462.4K −$8.61/SF
EGI
$1.79M $33.39/SF
− OpEx
−$448.3K −$8.35/SF
NOI
$1.34M $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 Rate 5%
$26,898,140
Cap Rate 7%
$19,212,957
Cap Rate 9%
$14,943,411
Alternative Uses
Best Use
Industrial
$30.65M
$26.82M – $35.75M
NOI $2,145,266 @ 7.0% cap · market cap 10.73%
Second Best
Office B
$19.21M
$16.81M – $22.42M
NOI $1,344,907 @ 7.0% cap · market cap 6.72%
Theoretical Best
Warehouse
$37.21M
$32.56M – $43.42M
NOI $2,604,965 @ 7.0% cap · market cap 13.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,728
Businesses Nearby
Explore this area
Business Placement
Demographics for 10459, NY
50,984
Population
18,678
Households
2.7
Avg Household Size
34
Median Age
14%
College-Educated
68%
High-School Grad
0.8 sq mi
ZIP Area
63,730
Density / Sq Mi
$39,276
Median Household Income
$30,200
Median Earnings
$1,285
Median Rent
$589,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story retail/office building with parking garage and development potential.
Where is this mixed-use property located?
The property is located at 840 Westchester Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $20,000,000.
What are key features of this property?
This property features: Prime location on Westchester Avenue retail corridor with high visibility and 174 feet of frontage.; Direct access to the 2 and 5 subway lines.; Significant development opportunity with **83,321 SF of unused air rights**, allowing for up to 137,026 SF of buildable space with CF Bonus.
