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509 Willis Ave 13,804 SF 59% Leased Office Building Bronx, NY 10455 $7,905,273 CAD ($572.68 CAD/SF) 5.91% Cap Rate
Investment Highlights
- Located along Willis Avenue, a major commercial thoroughfare in the South Bronx, the property benefits from strong foot traffic and dense population
- Opportunity to increase rents and overall NOI through leasing vacant space, renewing below-market tenants, and upgrading office interiors to achieve
- Positioned in an area experiencing ongoing investment and redevelopment, offering long-term appreciation and potential for repositioning
- The office-over-retail configuration reduces risk through tenant diversification and offering a balance between retail exposure and office stability
- C4-4 zoning has an R7-2 residential equivalent, presenting opportunity for future redevelopment or conversion to residential use
- The 2 & 5 trains are just one block away, with access to Midtown Manhattan and Grand Central Terminal within 25 minutes
Executive Summary
Cory Rosenthal
Matthews Real Estate Investment Services, Inc
License # 10991237833, 10311210106 (NY)
575 5th Ave., Ste 2810 New York, NY 10017
(866) 889-0550
Matthews Real Estate Investment Services, Inc
License # 10991237833, 10311210106 (NY)
575 5th Ave., Ste 2810 New York, NY 10017
(866) 889-0550
Property Facts
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Office
Property Subtype
Building Size
13,804 SF
Building Class
C
Year Built/Renovated
1900/2008
Price
$7,905,273 CAD
Price Per SF
$572.68 CAD
Cap Rate
5.91%
NOI
$467,340 CAD
Percent Leased
59%
Tenancy
Multiple
Building Height
8 Stories
Typical Floor Size
1,726 SF
Building FAR
5.84
Lot Size
0.05 AC
Opportunity Zone
Yes
Zoning
C4-4 (R7-2) - Regional Commercial Center
1 1
Exceptionally walkable
100/100
Moderately drivable
60/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 02307-0061 | Improvements Assessment | $905,119 CAD |
| Land Assessment | $183,127 CAD | Total Assessment | $1,088,247 CAD |
Property Taxes
Parcel Number
02307-0061
Land Assessment
$183,127 CAD
Improvements Assessment
$905,119 CAD
Total Assessment
$1,088,247 CAD
Contacts
-
DJ Johnston -
Robert Moore -
David Caba -
Matthews Real Estate Investment Services
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509 Willis Ave
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