598 Grand Concourse The The Bronx, NY 10451

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.