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1150 Webster Ave
Bronx, NY 10456
Retail Property For Sale
Investment Highlights
- Fully converted medical office building completed in 2018 with modern infrastructure.
- Strong tenant mix of healthcare providers and pharmacy with 90% occupancy.
- Attractive investment metrics: $10.5M price, 7.5% cap rate, and $325 per square foot.
- Prime Bronx location, 0.5 miles from 167th Street subway station and near major thoroughfares.
- Long-term stability with a weighted average lease term of 9.3 years.
Executive Summary
Webster Medical Plaza presents a prime investment opportunity in the heart of the Bronx healthcare corridor. This 32,340-square-foot medical office building is strategically located at 1150 Webster Avenue, just 0.5 miles from the 167th Street subway station, ensuring excellent accessibility for patients and staff. The property underwent a full conversion in 2018, transforming it into a modern medical facility designed to meet the growing demand for healthcare services in the area.
The asset is currently 90% occupied by a strong mix of medical tenants, including Heritage Medical, Cardiology Unlimited, and a full-service pharmacy, providing stable, long-term income. With a weighted average lease term of 9.3 years, investors benefit from predictable cash flow and minimal near-term rollover risk.
Financially, the property offers a compelling profile with a sale price of $10,500,000, representing $325 per square foot and a 7.5% capitalization rate. The building generates approximately $1,000,335 in gross income and $783,327 in net income, supported by an effective gross income of $955,092 and net operating income of $731,502 after expenses.
Located within an M1-1 zoning district, the property is well-positioned for continued medical use and potential future redevelopment. Its proximity to major transportation routes, dense residential neighborhoods, and established healthcare providers makes Webster Medical Plaza a rare, high-quality medical investment in a thriving urban market.
The asset is currently 90% occupied by a strong mix of medical tenants, including Heritage Medical, Cardiology Unlimited, and a full-service pharmacy, providing stable, long-term income. With a weighted average lease term of 9.3 years, investors benefit from predictable cash flow and minimal near-term rollover risk.
Financially, the property offers a compelling profile with a sale price of $10,500,000, representing $325 per square foot and a 7.5% capitalization rate. The building generates approximately $1,000,335 in gross income and $783,327 in net income, supported by an effective gross income of $955,092 and net operating income of $731,502 after expenses.
Located within an M1-1 zoning district, the property is well-positioned for continued medical use and potential future redevelopment. Its proximity to major transportation routes, dense residential neighborhoods, and established healthcare providers makes Webster Medical Plaza a rare, high-quality medical investment in a thriving urban market.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
32,340 SF
Building Class
C
Year Built/Renovated
1929/1958
Price
$14,381,010 CAD
Price Per SF
$444.68 CAD
Cap Rate
7.46%
NOI
$1,072,860 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.98
Lot Size
0.38 AC
Zoning
M1-1 - Light Manufacturing Zoning district
Frontage
194’ on Webster Ave
Amenities
- 24 Hour Access
- Bus Line
- Security System
- Signage
- Signalized Intersection
- Air Conditioning
Property Taxes
| Parcel Number | 02392-0020 | Improvements Assessment | $2,378,783 CAD |
| Land Assessment | $252,079 CAD | Total Assessment | $2,630,862 CAD |
Property Taxes
Parcel Number
02392-0020
Land Assessment
$252,079 CAD
Improvements Assessment
$2,378,783 CAD
Total Assessment
$2,630,862 CAD
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