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1254 Southern Blvd
Bronx, NY 10459
Retail Property For Sale
Investment Highlights
- Freestanding corner retail with excellent visibility and exposure
- Located directly under elevated train line with strong foot & vehicle traffic
- Ideal for long-term, low-maintenance investment
- Single tenant laundromat with brand-new 15-year NNN-style lease (landlord pays RE taxes)
- Dense residential and commercial corridor in Bronx’s Foxhurst neighborhood
Executive Summary
1254 Southern Blvd offers a rare opportunity to acquire a high-visibility corner retail property in the heart of the Bronx. The 5,000 SF freestanding masonry building sits on a 5,000 SF lot and is fully occupied by a single-tenant laundromat on a brand-new 15-year lease commencing April 2024. The lease includes annual 3% rent escalations, with the landlord responsible for real estate taxes.
This property benefits from excellent exposure under the elevated subway line, strong foot traffic, and a dense residential and commercial trade area. Zoned R7-1/C1-4, the asset is ideal for long-term investors seeking stable cash flow and minimal management.
At the asking price of $2.9M, the asset delivers a net operating income of $109,736, representing a 3.8% cap rate.
This property benefits from excellent exposure under the elevated subway line, strong foot traffic, and a dense residential and commercial trade area. Zoned R7-1/C1-4, the asset is ideal for long-term investors seeking stable cash flow and minimal management.
At the asking price of $2.9M, the asset delivers a net operating income of $109,736, representing a 3.8% cap rate.
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
5,000 SF
Building Class
C
Year Built
1924
Price
$3,938,918 CAD
Price Per SF
$787.78 CAD
Cap Rate
3.83%
NOI
$150,718 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
1.00
Lot Size
0.12 AC
Zoning
R7-1, Bronx (K1) - R7 Zoning is considered medium density residential. It is broken into 2 basic zoning districts R7-1 and R7-2. R7-1 has more parking requirements.
Frontage
50’ on Southern Blvd
Amenities
- Bus Line
- Signage
Property Taxes
| Parcel Number | 02979-0020 | Improvements Assessment | $423,870 CAD |
| Land Assessment | $93,309 CAD | Total Assessment | $517,179 CAD |
Property Taxes
Parcel Number
02979-0020
Land Assessment
$93,309 CAD
Improvements Assessment
$423,870 CAD
Total Assessment
$517,179 CAD
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