Mixed-Use Building Near
For Sale
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2582 Third Ave The, Bronx, NY 10454
Mixed-use building with retail space and apartments near subway.
Property Size6,386 SF
Price / SF$516.76
Days on Market976
Property Features for 2582 Third Ave The
General Information
Standard status
Active
Size
6,386 SF
Property subtype
Mixed Use
Occupancy
100%
Net Operating Income
$234,129
Listing Agency:
Highcap Group
Listed By:
Anthony Volman · License #NY
Source:
Crexi
Added: Feb 22, 2024
Changed: Oct 4
Last Checked: Oct 24 at 6:08PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This mixed-use building, situated in a busy location on the Avenue and two blocks from the 6 subway station, features 6,500 square feet. The property includes two free market apartments and a vacant 4,200-square-foot retail store with an additional 2,500-square-foot basement. The retail space is divisible. The property's gross income is $289,000, and the net income is $234,000 with the projected store, resulting in a 7.1% CAP.
Key Highlights
- Investment Opportunity: 7.1% CAP rate
- High Net Operating Income: $234k (projected with store)
- Prime Location: Busy Avenue, 2 blocks from the 6 subway station
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$134,428
Cap Rate
4.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,688,560
$2.7M
Cap Rate 7%
$1,920,400
$1.9M
Cap Rate 9%
$1,493,644
$1.5M
Market Conditions
NOI Build-Up for 6,386 SF
Gross rent
$214.6K $33.60/SF
− Vacancy
−$22.5K −$3.53/SF
EGI
$192.0K $30.07/SF
− OpEx
−$57.6K −$9.02/SF
NOI
$134.4K $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 Rate 5%
$2,688,560
Cap Rate 7%
$1,920,400
Cap Rate 9%
$1,493,644
Alternative Uses
Best Use
Retail
$1.92M
$1.68M – $2.24M
NOI $134,428 @ 7.0% cap · market cap 4.07%
Second Best
Mixed Use
$1.83M
$1.60M – $2.13M
NOI $127,880 @ 7.0% cap · market cap 3.88%
Theoretical Best
Warehouse
$4.43M
$3.87M – $5.16M
NOI $309,753 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,660
Businesses Nearby
230k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Shops & Services 29%
Groceries 11%
Hotels & Casinos 3%
McDonald's
Dining
46,830 visits/mo
0.3 miles
BP
Shops & Services
25,252 visits/mo
0.4 miles
Western Beef
Groceries
24,466 visits/mo
0.1 miles
Shell
Shops & Services
20,152 visits/mo
0.5 miles
McDonald's
Dining
17,416 visits/mo
0.5 miles
Demographics for 10454, NY
40,232
Population
15,397
Households
2.6
Avg Household Size
33
Median Age
14%
College-Educated
62%
High-School Grad
1.1 sq mi
ZIP Area
36,575
Density / Sq Mi
$27,500
Median Household Income
$31,243
Median Earnings
$1,064
Median Rent
$780,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building with retail space and apartments near subway.
Where is this mixed-use property located?
The property is located at 2582 Third 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: Investment Opportunity: 7.1% CAP rate; High Net Operating Income: $234k (projected with store); Prime Location: Busy Avenue, 2 blocks from the 6 subway station
