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    1042 Washington Ave The Bronx, NY 10456

    Sponsored
    For Sale
    $1,399,999

    3,375 SF, 8% Cap Rate, Value-Add

    Property size:
    3,375 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional mixed-use property, located at 1042 Washington Avenue in the Morrisania section of the Bronx, NY 10456, presents a compelling value-add investment opportunity. The fully renovated three-story masonry building boasts 3,375 square feet on a 2,133 square foot lot (25' x 86'). The building features a 1,250 square foot ground floor retail space, complemented by a basement and outdoor area. Above the retail space are three free-market residential units: a three-bedroom, one-bathroom unit on the second floor, and two two-bedroom, one-bathroom units on the third floor. Currently, the occupancy rate is 25%. The property benefits from M1-1/R7-2 MX-7 zoning, allowing for light manufacturing and medium-density residential uses. Its prime location offers easy access to the Grand Concourse, Yankee Stadium, local parks, the Bronx Museum of the Arts, and the Melrose Train Station. The asking price is $1,399,999, representing an estimated 8% cap rate. This property offers significant potential for increased rental income and appreciation, making it an ideal addition to any investment portfolio. The building has a 20-foot frontage on Washington Avenue. The property is classified under Tax Class 2A.

    Property Features for 1042 Washington Ave

    General Information

    Property type
    Mixed-use properties
    Square Feet
    3,375 SF

    HighLights

    • Exceptional mixed‑use property in Morrisania, Bronx, NY.
    • Fully renovated three‑story masonry building with 3,375 square feet on a 2,133 square foot lot (25' x 86').
    • Features 1,250 sq ft ground floor retail space, basement, and outdoor area, plus three residential units (one 3BR/1BA, two 2BR/1BA).
    • Currently 25% occupied.
    • M1‑1/R7‑2 MX‑7 zoning allows light manufacturing and medium‑density residential.
    • Prime location near Grand Concourse, Yankee Stadium, and public transportation.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    The Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.909224085814
    Latitude
    40.827137434246

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    FAQs

    What type of property is this?
    Mixed-use property - 3,375 SF, 8% Cap Rate, Value-Add
    Where is this mixed-use property located?
    The property is located at 1042 Washington Ave The Bronx, NY.
    What is the asking price?
    The asking price for this property is $1,399,999.
    What are key features of this property?
    This property features: Exceptional mixed-use property in Morrisania, Bronx, NY.; Fully renovated three-story masonry building with 3,375 square feet on a 2,133 square foot lot (25' x 86').; Features 1,250 sq ft ground floor retail space, basement, and outdoor area, plus three residential units (one 3BR/1BA, two 2BR/1BA).
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1042 Washington Ave The Bronx, NY 10456
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