www.crexi.com - The Commercial Real Estate Exchange
Subscribe to Intelligence for full access
Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
Subscribe to Intelligence for full access
Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
33933534
33930964

2 Locations

CM
NY 10401387746
Marcus & Millichap - Manhattan
SG
NY 10301209629, NY
Marcus & Millichap - Manhattan
WJ
NY 10301218139
Marcus & Millichap - Manhattan
Listed by Marcus & Millichap - Manhattan
$3,800,000
2 days on market
Updated 2 days ago

1398 & 1402 Clay Avenue

Details
Property Type Mixed Use, Multifamily
Sub Type Apartment Building
Square Footage 38,390
Net Rentable (SqFt) 32,632
Units 56
Cap Rate 9.50%
NOI $361,000
Occupancy 100%
Tenancy Multi
Price per SqFt $99
Buildings 2
Zoning R7-1
Ground Lease No

Mixed Use | 9.50% CAP | 38,390 SqFt

Marketing description

1398 & 1402 Clay Avenue are located in The Bronx, a rapidly evolving area benefiting from significant institutional and recreational anchors. Major employment hubs like the BronxCare Health System, located less than a mile away on the Grand Concourse, provide a deep and resilient pool of potential renters for the property. The asset is situated directly adjacent to Claremont Park, a 38-acre green space offering residents immediate access to swimming pools, sports courts, and playgrounds. This proximity to major healthcare employers and expansive lifestyle amenities makes the neighborhood a highly attractive and convenient alternative to Manhattan.

The surrounding area is witnessing strong demand from both residents and professionals. The property is conveniently located near the 167th Street station, serving the B and D subway lines, offering a direct and efficient commute to Midtown Manhattan. Tenant demand is further bolstered by the nearby Bronx Civic Center, located just 1.2 miles away, which serves as a major hub of judicial and municipal employment. Additionally, the property sits just 1.5 miles from Yankee Stadium and the bustling Grand Concourse corridor. These powerful demand drivers and excellent transit connectivity position 1398 Clay Avenue as a prime investment opportunity.

Investment highlights

  • 56 unit mixed-use buildings
  • $67,857 price per unit
  • 9.5% cap rate
  • 3.89 GRM
  • $99 price per square foot
  • 38,390 gross square footage
  • Located adjacent to Claremont Park, a 38-acre green space
  • Less than a mile from BronxCare Health System on Grand Concourse
  • Near 167th Street station serving B and D subway lines
  • 1.2 miles from Bronx Civic Center
  • 1.5 miles from Yankee Stadium
  • Currently 0 vacant units
  • 54 residential units and 2 commercial units

Listing Contacts

CM
NY 10401387746
Marcus & Millichap - Manhattan
SG
NY 10301209629, NY
Marcus & Millichap - Manhattan
WJ
NY 10301218139
Marcus & Millichap - Manhattan
Listed by Marcus & Millichap - Manhattan

Valuation Calculator

Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
$
$
%
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$361,000.00
$30,083.33/mo

Valuation Metrics

0
DSCR
9.5%
Cap Rate
9.5%
ROI

Map

Zoning

Intelligence Badge
R7-1 ResidentialMulti FamilyGeneral Residence
View municipality zoning documents
Upgrade to see the zone description and what's allowed on this property
Upgrade to search and view land use codes
View all 99 uses
View all 99 uses
Last updated Apr 22, 2026 For deeper zoning details, reports are available at Zoneomics

Broker Selected Comps View More Comps

Property History

Intelligence Badge

Tax History

Intelligence Badge

Similar Properties

View All

Additional Information

Name
Christopher Mehran
License
10401387746
Brokerage
Marcus & Millichap
Brokerage Phone
(646) 805-1494
Title
Investment Sales Broker
Brokerage Address
260 Madison Avenue
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
Is there information that looks off?
For assistance, reach out to our support team at [email protected] or call 888.273.0423 . For press inquiries, contact [email protected]
Equal Housing Opportunity
5510 Lincoln Blvd #400, Los Angeles, CA 90094Commercial Real Estate Exchange, Inc.Crexi Technologies, LLCCXTechnology, LLC
© 2026 Commercial Real Estate Exchange, Inc. All Rights Reserved. DRE #02086591