321 Rider Ave The Bronx, NY 10451

Property Details for 321 Rider Ave

Year built

1896

Property size

100,762 SF

Property type

Warehouses

Property subtype

Industrial properties

Description

This exceptional five-story, 100,762-square-foot industrial/flex building in the Bronx's Mott Haven offers a compelling investment opportunity. Situated on a 28,125-square-foot lot, the property boasts 575 feet of wrap-around frontage on three streets, ensuring high visibility and accessibility. The building comprises five interconnected structures, featuring two 4,000-lb capacity freight elevators (5'4"W x 6'D x 7'6"H and 6'5"W x 6'2"D x 8'H), one passenger elevator, and four stairwells providing access from the roof to the street. Ceiling heights range from 11 to over 30 feet, with column spacing between 16 and 22 feet, offering significant flexibility for various uses. The property includes a drive-in bay with a dock lift, multiple dock-high doors, and curb cuts for efficient logistics. A drive-in garage door presents future indoor parking potential. The durable rubber membrane roof, partially silver-coated for UV protection, houses elevator machinery rooms, solar panels, and cooling systems for a telecommunication tenant. The building benefits from full sprinkler coverage, three-phase power, and interruptible service for the dual-fuel boiler, leveraging Con Edison's reduced rates. Utilities include a 5,000-gallon oil tank and a separate 2,000-gallon tank for the telecommunication tenant. Gas, electric, and water systems are located in the basement, served by a single water meter. Security features include building-wide cameras, and a basement vacuum pump maintains water pressure for the steam radiators. The asking price is $23,995,000, with a current NOI of $561,182 and a pro-forma NOI of $1,188,694. The property's strategic location provides easy access to the Major Deegan Expressway (I-87), public transportation, and the Hunts Point Distribution Center, making it ideal for businesses requiring efficient supply chains. The surrounding area's growing residential development offers nearby housing and amenities. The permitted zoning is M1-2, OZ. The building was constructed in 1896.