Bronx Retail and Office
2922 Third Ave The Bronx, NY 10455
2922 Third Ave The, Bronx, NY, 10455
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For Sale
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Mixed-use building in the South Bronx with high traffic.
Property Size44,610 SF
Lot Size0.17 Acres
Price / SF$267.88
Days on Market646
Property Features for 2922 Third Ave The
General Information
- Standard status
- Active
- Size
- 44,610 SF
- Lot size
- 0.17 Acres
- Property subtype
- Retail, Office
Listing Agency
KSR Kassin Sabbagh Realty
Listed by
Eli Yadid · License #IL
Source
Crexi
Added: Oct 10, 2024 Checked: Jul 16 at 11:38 am
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 KSR Kassin Sabbagh Realty
Investment Insights
Based on property information with market context.
Located at the corner of Third Avenue and 152nd Street in the Bronx, this mixed-use property at 2922 Third Avenue features storefront retail and office spaces. The building has a total size of 44,610 square feet and sits on a 7,450 square foot lot. The property currently offers retail spaces on the lower level, ground floor, and second floor. Situated in the South Bronx along the Third Avenue corridor, the location benefits from average daily traffic exceeding 12,000 vehicles. The surrounding area includes national retailers such as Foot Locker, ALDI, FIVE Below, Marshalls, GNC, Burlington, and Home Goods, as well as quick-service restaurants. The property is located near the 3 Avenue-149 Street subway station with access to the 2 and 5 lines.
Key Highlights
- Prime location on the high‑traffic Third Avenue corridor (12,000+ vehicles daily) in the South Bronx.
- Large building with 44,610 square feet on a 7,450 square foot lot.
- Conveniently located near the 3 Avenue‑149 Street subway station (2 and 5 lines).
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.50M | $33.60 |
| − Vacancy | −$157.4k | −$3.53 |
| EGI | $1.34M | $30.07 |
| − OpEx | −$402.5k | −$9.02 |
| NOI | $939.1k | $21.05 |
44,610 SF · lease $33.60/SF/yr · vacancy 10.50% · expense 30.00%
Alternative Uses
Best Use
Office B
$15.96M
$13.96M – $18.62M
NOI $1,117,146 @ 7.0% cap · market cap 9.35%
Second Best
Retail
$13.42M
$11.74M – $15.65M
NOI $939,058 @ 7.0% cap · market cap 7.86%
Theoretical Best
Warehouse
$30.91M
$27.05M – $36.06M
NOI $2,163,812 @ 7.0% cap · market cap 18.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
YOUNGLAND STORES
Clothing & Fashion Store
Kid City Department ...
Clothing & Fashion Store
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FAQs
What type of property is this?
Mixed-use property - Mixed-use building in the South Bronx with high traffic.
Where is this mixed-use property located?
The property is located at 2922 Third Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $11,950,000.
What are key features of this property?
This property features: Prime location on the high‑traffic Third Avenue corridor (12,000+ vehicles daily) in the South Bronx.; Large building with 44,610 square feet on a 7,450 square foot lot.; Conveniently located near the 3 Avenue‑149 Street subway station (2 and 5 lines).
