Corner Retail Strip
New
For Sale
$12,795,000
700 Allerton Ave, Bronx, NY 10467
Fully occupied multi-storefront retail building with national bank tenants and established neighborhood retail presence.
Property Size10,411 SF
Price / SF$1,228
Days on Market1
Property Features for 700 Allerton Ave
General Information
Standard status
Active
Size
10,411 SF
Property subtype
Shopping Strip
Occupancy
100%
Financials
Asking Price
$12,795,000
Cap Rate
5.75%
Site & Location
Corner Location
Yes
Anchor Co-Tenants
Bank of America, Citibank
Amenities
Prime corner location featuring Bank of America and Citibank
The Allerton Avenue subway station for the 2 and 5 lines is steps away from the property
Hard corner of Allerton Avenue and White Plains Road with 110 feet of frontage
Two Citibank branches operate in the surrounding Zip Code. This location holds $260 million in deposits; the Jerome Avenue location holds $139 million
This location is the only Bank of America branch in the surrounding Zip Code, holding $112 million in deposits
Building Details
Building Size
10,411 SF
Year Built
1923
Tenancy
Multi
Listed By:
Michael Kook · License #License(s): NY: 10301216047, NY: 10491208242
(212) 430-5169
Source:
Marcusmillichap
Added: Sep 16
Last Checked: Sep 16 at 3:05PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Michael Kook
Investment Insights
Based on property information with market context.
Built in 1923, this 10,411-square-foot retail building contains three storefronts and is fully occupied. Bank of America and Citibank serve as the primary tenants under corporate leases, representing nearly 90% of the property, while Allerton Eye Care occupies the remaining retail space. Lease provisions include Bank of America renewal options with 12.0% rent increases in 2028 and 2033, and annual escalations for Allerton Eye Care through 2032.
The property occupies the corner of Allerton Avenue and White Plains Road at 700–706 Allerton Avenue in the Bronx. The 2 and 5 platform staircase reaches the storefronts, providing direct subway access at the building. An ICAP abatement remains in place through 2034, and the offering reflects a 5.75% cap rate.
The property occupies the corner of Allerton Avenue and White Plains Road at 700–706 Allerton Avenue in the Bronx. The 2 and 5 platform staircase reaches the storefronts, providing direct subway access at the building. An ICAP abatement remains in place through 2034, and the offering reflects a 5.75% cap rate.
Key Highlights
- 10,411‑square‑foot retail building with three storefronts
- Fully occupied by Bank of America, Citibank, and Allerton Eye Care
- Bank of America and Citibank corporate leases represent nearly 90% of the space
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,674
Businesses Nearby
235k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 40%
Dining 40%
Groceries 20%
Fine Fare
Groceries
24,406 visits/mo
0.2 miles
McDonald's
Dining
22,197 visits/mo
0.1 miles
Dunkin' Donuts
Dining
22,165 visits/mo
0.4 miles
Bank of America
Shops & Services
21,263 visits/mo
0.1 miles
Popeyes Louisiana Kitchen
Dining
17,184 visits/mo
0.3 miles
Demographics for 10467, NY
103,660
Population
40,582
Households
2.6
Avg Household Size
36
Median Age
22%
College-Educated
75%
High-School Grad
2.3 sq mi
ZIP Area
45,070
Density / Sq Mi
$47,806
Median Household Income
$36,949
Median Earnings
$1,505
Median Rent
$425,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Fully occupied multi-storefront retail building with national bank tenants and established neighborhood retail presence.
Where is this strip mall located?
The property is located at 700 Allerton Ave Bronx, NY.
What is the asking price?
The asking price for this property is $12,795,000.
What are key features of this property?
This property features: 10,411‑square‑foot retail building with three storefronts; Fully occupied by Bank of America, Citibank, and Allerton Eye Care; Bank of America and Citibank corporate leases represent nearly 90% of the space
