222nd St The Bronx, NY 10466
- Land
- 12,501 SF
Current Use by Public Records
- Land
Property Details for 222nd St
- Year built
- 1928
- Property size
- 12,501 SF
- Property type
- Land
- Property subtype
- Apartment buildings
Description
This Bronx investment property offers a compelling redevelopment opportunity. The 4,167 sq ft corner lot, zoned R6A, allows for significant expansion, with a maximum buildable area of 12,501 sq ft. Currently vacant, this two-story, two-building property (1928 construction) presents a clean slate for a ground-up multifamily development. The property boasts a pro-forma NOI of $156,342 and a pro-forma cap rate of 13.03%, indicating strong potential returns. Its location near the 2 and 5 MTA subway lines and Woodlawn Metro-North station ensures excellent transit access, while its proximity to White Plains Road provides convenient access to shopping and amenities. The favorable 2A tax class minimizes holding costs, further enhancing the investment's attractiveness. The asking price is $1,200,000. Three parking spaces are available on the site.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- The Bronx
- County
- Bronx
- State
- New York
- Longitude
- -73.8536
- Latitude
- 40.8832
