3289 Westchester Ave - Storefront Retail/Residential FOR SALE


Bronx, NY 10461- Middletown-Pelham Bay
$4,750,000 USD
917-523-1274
3289 Westchester Ave, Bronx, NY for Sale
$4,750,000 USD
Storefront Retail/Residential - FOR SALE
1/4
null | 6.7% Cap Rate

3289 Westchester Ave
Bronx, NY 10461
Middletown-Pelham Bay


OVERVIEW

Kassin Sabbagh Realty (KSR) is pleased to present 3289 Westchester Avenue, a turnkey, 100%-leased, Popeyes-anchored retail strip on a prime hard corner in the Pelham Bay section of the Bronx directly across from the 6 Train at the Pelham Bay Park station and just off I-95. Newly constructed and comprising approximately 4,535 SF across three commercial units, the property offers investors durable, brand-anchored income with minimal landlord responsibility. It is structured as a predominantly triple-net (NNN) asset — the Popeyes anchor and the convenience store are on full NNN leases, while the third tenant operates on a near-net (NN) structure that still reimburses insurance, water/sewer, and electric. With all three tenants secured on long-term leases through 2033–2036, contractual annual rent increases, and embedded upside from a pending ICAP tax abatement, 3289 Westchester delivers a rare combination of stability and growth in one of the Northeast Bronx’s most established, transit-rich retail corridors. WHY THIS IS A STRONG INVESTMENT • Turnkey Asset — Recently gut-renovated with new building systems and minimal near-term capital needs. • Popeyes-Anchored — National-brand tenant providing stable, credit-backed cash flow. • Long-Term Income — Fully leased through 2033–2036 with built-in annual rent increases. • Predominantly NNN — Limited landlord responsibilities with tenants covering most operating expenses. • Prime Transit Location — Directly across from the Pelham Bay 6 train terminal with immediate access to I-95. • Tax Abatement Upside — Pending ICAP approval expected to reduce real estate taxes. • Strong Market Fundamentals — Located in the affluent and highly accessible Pelham Bay submarket. FUTURE GROWTH & UPSIDE • Built-In Rent Growth — Annual contractual escalations across all leases. • Additional NOI Potential — Expected ICAP tax savings provide further income growth. • Mark-to-Market Opportunity — Future upside upon lease renewals in a high-demand retail corridor. • Development Potential — Zoning may allow for future redevelopment or unused air rights opportunities.

FOR SALE DETAILS

PRICE

$4,750,000 USD

PRICE/SF

$792 USD /SF

CAP RATE

6.7%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1925

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,543 SF

ZONING

R7-1

APN/PARCEL ID

04249-0046

ASK ABOUT THIS PROPERTY

Samia FarahKassin Sabbagh Realty (KSR)More Info
917-523-1274

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Samia FarahKassin Sabbagh Realty (KSR)More Info
917-523-1274

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