1908 Cross Bronx Service RdThe Bronx, NY 10472

Property Details for 1908 Cross Bronx Service Rd

Property size (Sq ft)

6,750 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional Bronx investment property presents a compelling opportunity for astute investors. Located at 1908 Cross Bronx Service Rd S, The Bronx, NY 10472, this single-story, 6,750 square foot retail building sits on a 6,750 square foot lot (50 x 149.54 ft, irregular). Currently housing three tenants—Pay-O-Matic, VIP Barber Shop & Spa LLC, and Manny's Unisex—the property generates a substantial net operating income (NOI) of $106,529 annually. The existing leases offer a mix of terms, with expirations ranging from 2024 to 2030, including renewal options. The property boasts a strong gross annual income of $142,969, supplemented by $2,124 in reimbursements, offset by operating expenses of $38,564. The property is zoned R6/C1-2, offering significant development potential. With a 3.0 FAR and a buildable area of 20,250 square feet, plus 17,000 square feet of air rights, this property presents a rare chance to capitalize on both existing income and future development possibilities. The asking price is $2,250,000, translating to $333.33 per square foot. Conveniently located near the 6 line subway, this property offers excellent accessibility and visibility. Property taxes for 2022/2023 were $31,187. The APN is 03794-0120. This is a turnkey investment with immediate cash flow and substantial long-term upside.

Location Insight

City

The Bronx

County

Bronx

State

New York

Latitude

40.8326

Longitude

-73.8598

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