2981-2985 3rd Ave - Storefront Retail/Office FOR SALE


Bronx, NY 10455- Melrose
$6,500,000 USD
212-257-1822
2981-2985 3rd Ave, Bronx, NY for Sale
$6,500,000 USD
Storefront Retail/Office - FOR SALE
1/5
null | 7.07% Cap Rate

2981-2985 3rd Ave
Bronx, NY 10455
Melrose


HIGHLIGHTS

  • Strong existing cash flow with 4 of 5 retail units leased.
  • Prominent 83-foot frontage along vibrant 3rd Avenue corridor.
  • Additional upside through leasing the final vacant storefront.
  • Surrounded by national retailers, driving strong consumer traffic.
  • Significant development potential with over 10,500 SF of air rights.
  • Excellent access to major subway lines and local bus routes.

OVERVIEW

Strong Occupancy: Comprised of 5 total units with 4 currently occupied. This asset provides a stable, in-place cash flow on day one, while offering immediate upside potential to drive additional revenue by leasing the final vacant storefront. Superb Retail Corridor Location: Situated on a high-foot-traffic block with an impressive 83 feet of frontage along 3rd Avenue. The property benefits from the massive consumer draw of nearby major national retailers, including Aldi, Burlington, and Marshalls. Significant Development Potential: The property boasts a total buildable square footage of 21,848, which includes 10,548 SF of available air rights, presenting a substantial opportunity for future expansion or vertical development. Excellent Accessibility: Exceptionally well connected for commuters and local shoppers. The property is positioned immediately adjacent to the Bx15 and Bx21 bus stops, and is just a short walk to the 2 and 5 subway trains at the 3rd Avenue–149th Street station.

FOR SALE DETAILS

PRICE

$6,500,000 USD

PRICE/SF

$591 USD /SF

CAP RATE

7.07%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1992

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,663 SF

ZONING

C4-4

APN/PARCEL ID

02375-0042

ASK ABOUT THIS PROPERTY

Jason M. GoldAriel Property AdvisorsMore Info
212-257-1822

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Jason M. GoldAriel Property AdvisorsMore Info
212-257-1822

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