598 Grand Concourse The The Bronx, NY 10451
- Retail properties
- 5,857 SF
Current Use by Public Records
- Isalis / Boutique / Women'S Clothing Store
- Party City / Costume Store / Party Store
- Skunk Funk / Wholesaler / Clothing Store
- Carl's Trading Co / Hat Shop
- Bushka's Kitchen LLC / Outdoor Clothing And Equipment Shop
Property Details for 598 Grand Concourse The
- Year built
- 1929
- Property size
- 5,857 SF
- Property type
- Retail properties
- Property subtype
- Mixed-use properties
Description
This exceptional investment opportunity presents a fully occupied, four-story mixed-use building located at 598 Grand Concourse in the Bronx, NY, 10451. The 5,857 square foot property, built in 1929, boasts a strong 6.78% cap rate and a Net Operating Income (NOI) of $159,400, with an asking price of $2,350,000 ($401.23/sq ft). The building comprises both commercial and residential units, currently housing five tenants at 100% occupancy. Zoned C4-4, Bronx, (O9), this fee-simple property sits on a 2,535 square foot lot. Utility responsibilities are shared amongst tenants, with the restaurant tenant covering water and sewer costs, and all tenants responsible for electricity and heat. Its convenient location offers proximity to the 149th St - Grand Concourse subway station and is surrounded by various neighborhood amenities including restaurants, clothing stores, and schools. This stabilized, opportunistic investment presents a compelling opportunity for discerning buyers seeking a strong return in a vibrant Bronx location. No rent bumps are currently in place.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- The Bronx
- County
- Bronx
- State
- New York
- Longitude
- -73.9267
- Latitude
- 40.8198
