Three-Family Redevelopment
For Sale
Contact for pricing
940 East 181st Street, Bronx, NY 10460
Fully vacant three-family building on a lot zoned for additional development potential.
Property Size3,087 SF
Price / SF$372.53
Days on Market141
Property Features for 940 East 181st Street
General Information
Standard status
Active
Size
3,087 SF
Property subtype
Multifamily, Land
Zoning
R7-1
Investment Type
Redevelopment
Additional Details
Multifamily Units
3
Building Details
Year Built
1997
Buildings
1
Units
3
Listing Agency:
Landair Advisors
Listed By:
Maha Alaoui · License #10401392848
(646) 559-4700
Source:
Crexi
Added: Jun 2
Changed: Oct 19
Last Checked: Oct 19 at 7:02AM
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 Landair Advisors
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Investment Insights
Based on property information with market context.
This offering features a 3,087 sq. ft. three-family building situated on an irregular 40' x 103' lot. The layout includes a ground-floor studio, a three-bedroom/one-bath unit on the first floor, and a four-bedroom/two-bath duplex. The property is being delivered fully vacant at closing, providing flexibility for either an owner-occupant plan or a redevelopment approach.
The site is zoned R7-1 and, according to the provided information, permits up to 11,579 buildable sq. ft. as-of-right or 16,863 buildable sq. ft. with UAP. The property is located about 0.4 miles from the West Farms Square–East Tremont Ave station serving the 2 and 5 trains, and it is also served by Bx9, Bx21, and Bx36 bus routes.
For tenants, buyers, and investors, this property can fit multiple paths: continued residential use with the existing three-family structure, or a ground-up redevelopment or building alterations consistent with the stated zoning parameters. Its transit-accessible West Farms location and the option to pursue additional buildable space make it a practical candidate for owners evaluating residential income versus redevelopment strategies.
The site is zoned R7-1 and, according to the provided information, permits up to 11,579 buildable sq. ft. as-of-right or 16,863 buildable sq. ft. with UAP. The property is located about 0.4 miles from the West Farms Square–East Tremont Ave station serving the 2 and 5 trains, and it is also served by Bx9, Bx21, and Bx36 bus routes.
For tenants, buyers, and investors, this property can fit multiple paths: continued residential use with the existing three-family structure, or a ground-up redevelopment or building alterations consistent with the stated zoning parameters. Its transit-accessible West Farms location and the option to pursue additional buildable space make it a practical candidate for owners evaluating residential income versus redevelopment strategies.
Key Highlights
- 3,087 SF three‑family building on an irregular 40' x 103' (3,366 SF) lot at 940 East 181st Street
- Building layout includes a ground‑floor studio, a 3BR/1BA on the first floor, and a 4BR/2BA duplex
- Delivered fully vacant at closing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,415
Cap Rate
6.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,568,300
$1.6M
Cap Rate 7%
$1,120,214
$1.1M
Cap Rate 9%
$871,278
$871.3K
Market Conditions
NOI Build-Up for 3,087 SF
Gross rent
$118.5K $38.40/SF
− Vacancy
−$6.5K −$2.11/SF
EGI
$112.0K $36.29/SF
− OpEx
−$33.6K −$10.89/SF
NOI
$78.4K $25.40/SF
Area
Bronx, NY
Vacancy
5.50%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,568,300
Cap Rate 7%
$1,120,214
Cap Rate 9%
$871,278
Alternative Uses
Best Use
Multifamily LT 5
$1.12M
$980.2K – $1.31M
NOI $78,415 @ 7.0% cap · market cap 6.82%
Second Best
Apartment 5plus
$1.01M
$887.7K – $1.18M
NOI $71,012 @ 7.0% cap · market cap 6.17%
Theoretical Best
Warehouse
$2.14M
$1.87M – $2.50M
NOI $149,735 @ 7.0% cap · market cap 13.02%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,525
Businesses Nearby
Explore this area
Business Placement
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Fully vacant three-family building on a lot zoned for additional development potential.
Where is this triplex located?
The property is located at 940 East 181st Street Bronx, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 3,087 SF three‑family building on an irregular 40' x 103' (3,366 SF) lot at 940 East 181st Street; Building layout includes a ground‑floor studio, a 3BR/1BA on the first floor, and a 4BR/2BA duplex; Delivered fully vacant at closing
