1480-1488 Westchester Ave - Storefront FOR SALE


Bronx, NY 10472- Soundview
$8,500,000 USD
917-539-0402
1480-1488 Westchester Ave, Bronx, NY for Sale
$8,500,000 USD
Storefront - FOR SALE
1/11
null | 6.53% Cap Rate

1480-1488 Westchester Ave
Bronx, NY 10472
Soundview


HIGHLIGHTS

  • 100 Percent Occupied ±10,000 SF Single-Story Retail Strip
  • Eight-Tenant Roster Featuring Strong Annual Rent Increases and Proportionate Reimbursement of Real Estate Taxes
  • Prime Retail Frontage Along One of the Bronx’s Most Heavily Traveled Corridors with 100 Feet of Visibility on Westchester Avenue
  • Transit-Oriented Location Two Blocks From the Elder Avenue Subway Station (6 Train)

OVERVIEW

The subject offering is a 10,000 square foot single-story retail strip located on the corner of Westchester Avenue and Evergreen Avenue in the Bronx, New York. This 100 percent occupied retail property consists of eight units, with 100 feet of prime retail frontage along Westchester Avenue, one of the most heavily traveled streets in the Bronx. All of the tenants in this multi-tenant offering have strong annual increases, and all the tenants reimburse for a proportionate share of real estate taxes. The site is located two blocks from the Elder Avenue Subway Station (6 Train). Westchester Avenue is lined with local and national retailers and is one of the most sought-after retail corridors in the Bronx. Neighboring tenants include Bank of America, Food Dynasty, Domino’s, Chase Bank, Rainbow and McDonald’s. The site rests on a 10,000 square foot lot zoned C4-2/R6, which allows for an FAR of 3.4 for commercial (34,068 total buildable square feet) and an FAR of 2.43 for residential (24,348 total buildable square feet). This is an opportunity to acquire a fully occupied multi-tenant retail property with an outstanding tenant roster and solid in-place cash flow.

FOR SALE DETAILS

PRICE

$8,500,000 USD

PRICE/SF

$850 USD /SF

CAP RATE

6.53%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

8-Tenant Bronx Retail Strip Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1935

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,019 SF

ZONING

C4-2, Bronx, (K1)

APN/PARCEL ID

03738-0038

ASK ABOUT THIS PROPERTY

Scott PlaskyMarcus & MillichapMore Info
917-539-0402

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Scott PlaskyMarcus & MillichapMore Info
917-539-0402

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.