611 161St St Bronx, NY 10456
Property Features for 611 161St St
General Information
- Property type
- Other commercial real estate
- Square Feet
- 5,317 SF
- Lot Size
- 2,614 SF
Building Details
- Year Built
- 2008
Listing Agency: Everest Realty Group LLC Listing Agent: Omid Pouratian
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional investment opportunity presents a 5,317 square foot property located at 611 E 161st St, Bronx, NY, situated on a 0.06-acre lot. The property, less than ten years old, offers significant potential for a savvy investor. All tenants are responsible for their own utilities, minimizing operational expenses for the owner. A substantial advantage is the presence of a long-term 421a tax abatement, providing a 25-year tax benefit. This translates to significant cost savings and enhanced profitability. The included land offers further development possibilities. The site could be easily converted into additional parking spaces to increase revenue or utilized for secure storage, catering to the needs of tenants or the surrounding community. This property is priced at $1,300,000 and represents a compelling investment opportunity in a growing area of the Bronx. The combination of a young building, long-term tax benefits, and the potential for land expansion makes this a rare find in the current market. Serious inquiries are encouraged.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Commercial real estate
Location Insight
- Map
- Local Demand
- City
- Bronx
- County
- Bronx County
- State
- New York
- Longitude
- -73.90803
- Latitude
- 40.82219
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FAQs
What type of property is this?
Commercial real estate - 5,317 sq ft, 0.06 acre lot, great return.
Where is this commercial real estate located?
The property is located at 611 161St St Bronx, NY.
What is the asking price?
The asking price for this property is $1,300,000.
