940 East 181st Street, Bronx, NY 10460
Fully vacant three-family building on a lot zoned for additional development potential.
- Added:
- Jun 2, 2026
- Days on Market:
- 5
- Last Refresh:
- Jun 6 at 3:30 am
Property Features for 940 East 181st Street
General Information
- Standard status
- Active
- Size
- 3,087 SF
- Property subtype
- Multifamily, Land
Listing agent Maha Alaoui License #10401392848
Listing office Landair Advisors
Listing date Jun 2, 2026
Source Crexi
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
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
- Zoned R7‑1: permits up to 11,579 buildable SF as‑of‑right or 16,863 buildable SF with UAP
- 0.4 miles from West Farms Square–East Tremont Ave station (2/5 trains) and served by Bx9, Bx21, and Bx36 buses
- Bronx Park area nearby, with access to retail on East Tremont Ave and institutions including Fordham University
Overview
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.
Local Financial Insights For Multifamily LT 5
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 | $118.5k | $38.40 |
| − Vacancy | −$6.5k | −$2.11 |
| EGI | $112.0k | $36.29 |
| − OpEx | −$33.6k | −$10.89 |
| NOI | $78.4k | $25.40 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Bronx
- County
- Bronx
- State
- New York
- Longitude
- -73.880679
- Latitude
- 40.844921
