Abe Ashkenazie - Commercial Real Estate Showcase

Abe Ashkenazie Property Listings
Steve Ike Realty
57 W 38th St
4th Floor
New York, NY 10018

4346 - 4348 White Plains Road - Milano Furniture

Bronx, NY 10466 - Bronx Submarket

Property Type:Retail Sub Type:Storefront Status:Existing Year Built:1957
Building Size:6,500 SF Land Area:.17 AC (7,492 SF)
For Sale Price:$2,300,000 Price/SF:$353.85
Cap Rate:6.15 %
Parking:Ratio of .3/1,000 SF

A V.I.M. store will be built on the parking lot and the balance of space will be rented. V.I.M. has not determined what their plans are for the existing funeral home at the time of this writing.

V.I.M. was established in 1977 and has 30 stores in the greater metropolitan area – Brooklyn, Manhattan, Queens, the Bronx, Newark and Mt. Vernon.

Sale Notes:
The subject offering is a 6,500 SF multi-tenant retail property located on a strong retail corridor on White Plains Road in the Bronx. The property is 100% occupied by two tenants, Milano Furniture and the Greater Anointing Tabernacle Church. Both tenants operate on gross leases, and both tenants have rental increases in 2018. The property is located between 236th and 237th Streets, and it is an outstanding neighborhood retail location, sitting one block from the Nereid Ave Subway Station, and surrounded by local and national retailers. Within a few blocks are Rite Aid, Burger King, Walgreen's, Foodtown, Dollar Tree, Family Dollar and Capital One Bank.
White Plains Road is one of the major retail thoroughfares in the Bronx. This is an opportunity to purchase a 6,500 SF multi-tenant retail property on a major retail street in the Bronx. The property is fully-leased, and both tenants are paying below-market rents for the neighborhood.
6,500 SF Two-Tenant Retail Property on White Plains Road in the Bronx, NY 100% Occupied Property Located Between 236th Street and 237th Street Strong Retail Corridor - Located One Block from Two Subway Lines and Surrounded by Local and National Retailers Stabilized Metro NYC Multi-Tenant Retail Property With Built-In Rental Increases Recently Renovated Spaces - Church Just Recently Completed an Expansion Neighboring Retailers Include Dollar Tree, Foodtown, Rite Aid and Walgreen's

Steve Ike Realty
Abe Ashkenazie
(212) 398-8785 x101

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