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2343 Jerome Ave
Bronx, NY 10468
Retail Property For Sale
Investment Highlights
- Call or Text Marc at (631) 839-3748 for more information today!
Executive Summary
Summary of Proposed Sale - 2343 Jerome Avenue, Bronx, NY, 11207 (“2343 Jerome”)
Properties/Sellers:
CTBY Realty, LLC owns 2343 Jerome Avenue, Bronx, NY, 11207.
Tenant - “Food Dynasty” franchise - current rent $18,217 per month. Rent will escalate to $18,581 soon. They are in year 6 of a 10-year lease with a 5-year renewal option. 1 story retail location in Brooklyn.
NYC real estate property taxes are about $47,292.20 per year. The tenant pays the taxes in 12 installments (about $4,000) every month along with the rent. (Total rent is about $22,500 per month or $270,000 annually)
The estate is NOT offering a purchase money mortgage. The estate is winding up.
Condition/Disclosure: No C/O - Electrical remediation started but not complete. Tenant responsible for electrical repair and tenant has access to $20,000 escrow to complete remediation. Any pending issues with respect to the C/O are not an impediment to closing, and this transaction and sale is an “AS IS” transfer.
The square footage of the building is about 7,400 built out. At 7,400 square feet usable the price is about $541 per square foot which is reasonable for a commercial location in Brooklyn.
Terms:
$4,000,000 (FIRM)
10% down at signing of contract
“as is”
60 days closing
14 days due diligence.
Check out this YouTube Video on 2343 Jerome Ave, Bronx, NY: https://youtu.be/Mb3sKWQfwu8?si=VJH6vfEfFQD1Pvib
Properties/Sellers:
CTBY Realty, LLC owns 2343 Jerome Avenue, Bronx, NY, 11207.
Tenant - “Food Dynasty” franchise - current rent $18,217 per month. Rent will escalate to $18,581 soon. They are in year 6 of a 10-year lease with a 5-year renewal option. 1 story retail location in Brooklyn.
NYC real estate property taxes are about $47,292.20 per year. The tenant pays the taxes in 12 installments (about $4,000) every month along with the rent. (Total rent is about $22,500 per month or $270,000 annually)
The estate is NOT offering a purchase money mortgage. The estate is winding up.
Condition/Disclosure: No C/O - Electrical remediation started but not complete. Tenant responsible for electrical repair and tenant has access to $20,000 escrow to complete remediation. Any pending issues with respect to the C/O are not an impediment to closing, and this transaction and sale is an “AS IS” transfer.
The square footage of the building is about 7,400 built out. At 7,400 square feet usable the price is about $541 per square foot which is reasonable for a commercial location in Brooklyn.
Terms:
$4,000,000 (FIRM)
10% down at signing of contract
“as is”
60 days closing
14 days due diligence.
Check out this YouTube Video on 2343 Jerome Ave, Bronx, NY: https://youtu.be/Mb3sKWQfwu8?si=VJH6vfEfFQD1Pvib
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
7,500 SF
Building Class
C
Year Built
1920
Price
$5,522,800 CAD
Price Per SF
$736.37 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
1.00
Lot Size
0.17 AC
Zoning
C8-3 - Commercial/manufacturing. Heavy commercial services that often require large amounts of land.
Frontage
75’ on Jerome Ave
Amenities
- Bus Line
- Corner Lot
- Metro/Subway
Property Taxes
| Parcel Number | 03198-0102 | Improvements Assessment | $623,593 CAD |
| Land Assessment | $94,241 CAD | Total Assessment | $717,835 CAD |
Property Taxes
Parcel Number
03198-0102
Land Assessment
$94,241 CAD
Improvements Assessment
$623,593 CAD
Total Assessment
$717,835 CAD
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