1908 Cross Bronx Service Rd, The Bronx, NY 10472

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.