Four-Unit Retail
New
For Sale
Contact for pricing
909 East Tremont Avenue, Bronx, NY 10460
Multi-unit retail configuration along an established Bronx commercial corridor with R7X/C1-4 zoning.
Property Size6,500 SF
Price / SF$538.46
Days on Market5
Property Features for 909 East Tremont Avenue
General Information
Standard status
Active
Size
6,500 SF
Property subtype
Retail
Zoning
R7X/C1-4
Investment Type
Stabilized
Net Operating Income
$270,121
Financials
Asking Price
$3,500,000
Cap Rate
7.7%
Additional Details
Frontage
86 ft
Building Details
Units
4
Tenancy
Multi
Listing Agency:
Kassin Sabbagh Realty
(718) 986-7149
Listed By:
Solomon Sharaby · License #10401283106
Source:
Crexi
Added: Aug 27
Changed: Aug 31
Last Checked: Aug 31 at 9:28AM
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 Kassin Sabbagh Realty
Investment Insights
Based on property information with market context.
This retail condominium encompasses 6,500 square feet across four separate retail units. The property offers approximately 86 feet of frontage along East Tremont Avenue, supporting storefront exposure within an established commercial corridor. Zoning is designated R7X/C1-4, and the asset includes an ICAP tax abatement.
The property is situated between Honeywell and Daly Avenues in the Crotona neighborhood of the Bronx, at 909 East Tremont Avenue, Bronx, NY 10460. Its multiple-unit configuration provides a defined retail layout within a condominium ownership structure.
The property is situated between Honeywell and Daly Avenues in the Crotona neighborhood of the Bronx, at 909 East Tremont Avenue, Bronx, NY 10460. Its multiple-unit configuration provides a defined retail layout within a condominium ownership structure.
Key Highlights
- 6,500 SF retail condominium
- Four retail units included
- Approximately 86 feet of frontage along East Tremont Avenue
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
$136,828
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
3.91%
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%
$2,736,560
$2.7M
Cap Rate 7%
$1,954,686
$2.0M
Cap Rate 9%
$1,520,311
$1.5M
Market Conditions
NOI Build-Up for 6,500 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
$218.4K $33.60/SF
− Vacancy
−$22.9K −$3.53/SF
EGI
$195.5K $30.07/SF
− OpEx
−$58.6K −$9.02/SF
NOI
$136.8K $21.05/SF
Area
Bronx, NY
Vacancy
10.50%
Lease Rate
$33.60 /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%
$2,736,560
Cap Rate 7%
$1,954,686
Cap Rate 9%
$1,520,311
Alternative Uses
Best Use
Retail
$1.95M
$1.71M – $2.28M
NOI $136,828 @ 7.0% cap · market cap 3.91%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$4.50M
$3.94M – $5.25M
NOI $315,283 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,024
Businesses Nearby
260k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 31%
Shops & Services 26%
Dining 24%
Apparel 16%
Stop & Shop
Groceries
52,265 visits/mo
0.3 miles
McDonald's
Dining
30,388 visits/mo
0.5 miles
T.J. Maxx
Apparel
26,545 visits/mo
0.4 miles
Chase Bank
Shops & Services
21,482 visits/mo
0.4 miles
C-Town Supermarkets
Groceries
17,380 visits/mo
0.4 miles
Demographics for 10460, NY
62,625
Population
24,085
Households
2.6
Avg Household Size
34
Median Age
15%
College-Educated
71%
High-School Grad
1.5 sq mi
ZIP Area
41,750
Density / Sq Mi
$36,067
Median Household Income
$31,283
Median Earnings
$1,332
Median Rent
$589,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Multi-unit retail configuration along an established Bronx commercial corridor with R7X/C1-4 zoning.
Where is this retail space located?
The property is located at 909 East Tremont Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 6,500 SF retail condominium; Four retail units included; Approximately 86 feet of frontage along East Tremont Avenue
