Mixed-Use Building with Income
For Sale
Contact for pricing
2918 Bronx Blvd The, Bronx, NY 10467
Well-maintained mixed-use building with restaurant/bar and apartments for sale.
Property Size4,576 SF
Price / SF$371.28
Days on Market938
Property Features for 2918 Bronx Blvd The
General Information
Standard status
Active
Size
4,576 SF
Property subtype
Mixed Use
Occupancy
100%
Net Operating Income
$119,044
Building Details
Units
3
Listing Agency:
Highcap Group
Listed By:
Anthony Volman · License #NY
Source:
Crexi
Added: Jan 26, 2024
Changed: Aug 8
Last Checked: Aug 21 at 4:39AM
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 Highcap Group
Investment Insights
Based on property information with market context.
This mixed-use property features 4,576 square feet of space. The building is well-maintained and has excellent rent collection. It includes two large free-market 3-bedroom apartments, each over 1,500 square feet. Each apartment has its own laundry room with a coin-operated Whirlpool washing machine. A restaurant/bar is also located within the building and pays 33% of the real estate taxes and water bill.
Key Highlights
- Two large, free‑market 3‑bedroom apartments (over 1,500 SF each).
- Total building size of 4,576 SF.
- Restaurant/Bar tenant pays 33% of real estate taxes and water bill.
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
$94,723
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
5.58%
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%
$1,894,460
$1.9M
Cap Rate 7%
$1,353,186
$1.4M
Cap Rate 9%
$1,052,478
$1.1M
Market Conditions
NOI Build-Up for 4,576 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
$164.7K $36.00/SF
− Vacancy
−$13.2K −$2.88/SF
EGI
$151.6K $33.12/SF
− OpEx
−$56.8K −$12.42/SF
NOI
$94.7K $20.70/SF
Area
ZIP 10467
Vacancy
8.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,894,460
Cap Rate 7%
$1,353,186
Cap Rate 9%
$1,052,478
Alternative Uses
Best Use
Mixed Use
$1.35M
$1.18M – $1.58M
NOI $94,723 @ 7.0% cap · market cap 5.58%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.17M
$2.77M – $3.70M
NOI $221,959 @ 7.0% cap · market cap 13.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,308
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Well-maintained mixed-use building with restaurant/bar and apartments for sale.
Where is this mixed-use property located?
The property is located at 2918 Bronx Blvd The Bronx, NY.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Two large, free‑market 3‑bedroom apartments (over 1,500 SF each).; Total building size of 4,576 SF.; Restaurant/Bar tenant pays 33% of real estate taxes and water bill.
