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2244 Westchester Ave 29,819 SF Office Building Bronx, NY 10462 $22,556,326 CAD ($756.44 CAD/SF) 6.02% Cap Rate
Investment Highlights
- This branch currently holds $220,000,000 in deposits. This branch has served as Ponce Bank's flagship branch and corporate headquarters for 25 years.
- Located directly in front of the Castle Hill Avenue subway station (1.1 million+ annual riders), across from the Westchester Ave/Castle Hill bus stop
- Surrounded by a population of 312,000+ residents with an average household income over $68,000 within 2 miles. Over 1,727,000 residents within 5 miles
Executive Summary
Positioned on a sizable lot along Westchester Avenue, the property benefits from high visibility and continuous pedestrian and vehicular activity. Its strategic placement directly in front of the Castle Hill Avenue subway station, which records over 1.1 million annual riders, places the asset at the center of an established commuter corridor. It is also located across from the Westchester Ave/Castle Hill bus stop, enhancing multimodal access for local residents and workers.
Property Facts
Sale Type
Investment NNN
Property Type
Office
Building Size
29,819 SF
Building Class
A
Year Built
1970
Price
$22,556,326 CAD
Price Per SF
$756.44 CAD
Cap Rate
6.02%
NOI
$1,356,999 CAD
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
14,910 SF
Building FAR
0.71
Lot Size
0.96 AC
Zoning
R5, C1-2, C2-2
Parking
52 Spaces (1.74 Spaces per 1,000 SF Leased)
Walk Score®
Walker's Paradise (98)
Transit Score®
Rider's Paradise (93)
Property Taxes
| Parcel Number | 03823-0007 | Improvements Assessment | $3,035,198 CAD |
| Land Assessment | $273,369 CAD | Total Assessment | $3,308,567 CAD |
Property Taxes
Parcel Number
03823-0007
Land Assessment
$273,369 CAD
Improvements Assessment
$3,035,198 CAD
Total Assessment
$3,308,567 CAD
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2244 Westchester Ave
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