PRIME WOODSTOCK NEIGHBORHOOD IN MOTT HAVEN - FIRST TIME ON MARKET IN OVER 50 YEARS! This retail property currently houses 3 retail spaces, two with market rate leases and one currently vacant, white boxed and ready to go! LEASE INFO: DENTAL SERVICES STORE: 2021 ANNUAL RENT - $57,009 W/3.5% ANNUAL RENT INCREASES. DELI: 2021 ANNUAL RENT - $62,550 W/3.5% ANNUAL RENT INCREASES. VACANT STORE: 2021 PROJECTED ANNUAL RENT - $42,500. PROJECTED 2021 MAJOR EXPENSES: $119,390. CAP RATE AT $2,250,000 - 5.3% This property also has great potential for development allowing mixed commercial and residential use ... location is in the rapidly developing Mott Haven / Woodstock neighborhood of the South Bronx. The bld occupies a corner site... a prime commercial corner right across the street to the #2 and #5 subway lines. Buildable allowable usable floor area is 10,507SF.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
