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8-Tenant Bronx Retail Strip Center 1480-1488 Westchester Ave 10,000 SF 100% Leased Retail Building Bronx, NY 10472 $11,597,485 CAD ($1,159.75 CAD/SF) 6.53% Cap Rate
Investment Highlights
- 100 Percent Occupied ±10,000 SF Single-Story Retail Strip
- Prime Retail Frontage Along One of the Bronx’s Most Heavily Traveled Corridors with 100 Feet of Visibility on Westchester Avenue
- Eight-Tenant Roster Featuring Strong Annual Rent Increases and Proportionate Reimbursement of Real Estate Taxes
- Transit-Oriented Location Two Blocks From the Elder Avenue Subway Station (6 Train)
Executive Summary
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.
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.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
10,000 SF
Building Class
C
Year Built
1935
Price
$11,597,485 CAD
Price Per SF
$1,159.75 CAD
Cap Rate
6.53%
NOI
$757,171 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
1.00
Lot Size
0.23 AC
Zoning
C4-2, Bronx, (K1)
Frontage
104’ on Westchester Ave
Amenities
- Bus Line
- Metro/Subway
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Technologia
- Retailer
- -
-
$9.99
-
Jan 0000
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Technologia | Retailer | - | $9.99 | Jan 0000 |
Walk Score®
Walker's Paradise (93)
Transit Score®
Rider's Paradise (99)
Bike Score®
Very Bikeable (86)
Nearby Major Retailers
Property Taxes
| Parcel Number | 03738-0038 | Improvements Assessment | $986,251 CAD |
| Land Assessment | $185,191 CAD | Total Assessment | $1,171,443 CAD |
Property Taxes
Parcel Number
03738-0038
Land Assessment
$185,191 CAD
Improvements Assessment
$986,251 CAD
Total Assessment
$1,171,443 CAD
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8-Tenant Bronx Retail Strip Center | 1480-1488 Westchester Ave
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