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    2582 3Rd Ave The Bronx, NY 10454

    For Sale
    $3,300,000

    Prime Bronx location, high NOI, strong cap rate.

    Property size:
    6,386 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional mixed-use property, located at 2582 Third Avenue in the vibrant Mott Haven neighborhood of the Bronx, presents a compelling investment opportunity. The 6,386 square foot building boasts a 7.09% cap rate and a strong net operating income (NOI) of $234,129. Currently, the property features two free-market apartments and a store, achieving 100% occupancy. A significant opportunity exists with a vacant 4,200 square foot retail space and a 2,500 square foot basement, both divisible to suit various tenants. The building sits on a 4,656 square foot lot and is ideally situated on a busy avenue, just two blocks from the 6 train subway station, ensuring high visibility and accessibility. The asking price is $3,300,000, translating to $516.76 per square foot. With a projected gross income of $289,000, this property offers substantial potential for increased revenue through the lease-up of the vacant retail space and basement. This is a rare chance to acquire a well-positioned mixed-use asset in a rapidly developing area of the Bronx. The property's strong financials and prime location make it an attractive investment for both seasoned and emerging investors.

    Property Features for 2582 3Rd Ave

    General Information

    Property type
    Mixed-use properties
    Square Feet
    6,386 SF

    HighLights

    • High‑traffic Avenue location, two blocks from the 6 train.
    • Mixed‑use building totaling 6,500 square feet, including two market‑rate apartments and one retail store.
    • 4,200‑square‑foot vacant retail space plus a 2,500‑square‑foot basement, divisible.
    • $289,000 gross income, $234,000 net income (projected with occupied retail), 7.1% capitalization rate.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    The Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.9258096
    Latitude
    40.8115108

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    FAQs

    What type of property is this?
    Mixed-use property - Prime Bronx location, high NOI, strong cap rate.
    Where is this mixed-use property located?
    The property is located at 2582 3Rd Ave The Bronx, NY.
    What is the asking price?
    The asking price for this property is $3,300,000.
    What are key features of this property?
    This property features: High-traffic Avenue location, two blocks from the 6 train.; Mixed-use building totaling 6,500 square feet, including two market-rate apartments and one retail store.; 4,200-square-foot vacant retail space plus a 2,500-square-foot basement, divisible.
    Request Owner's contact information
    2582 3Rd Ave The Bronx, NY 10454
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    The Bronx, NY 10454
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2582 3Rd Ave The Bronx, NY 10454
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