The Fordham Rd The Bronx, NY 10458
- Office Properties & Spaces
- 17,000 SF
Current Use by Public Records
- Office Properties & Spaces
Property Details for The Fordham Rd
- Year built
- 1908
- Property size
- 17,000 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Medical offices
Description
This exceptional investment opportunity presents a four-story, 17,200-square-foot medical office building in the Bronx, New York. Built in 1908 and renovated in 2002, the property boasts 100% occupancy with three NNN tenants under leases extending to February 1, 2029, providing a remaining lease term of approximately 4.2 years. The building features elevator access and sits on a 5,000-square-foot lot, with an additional 3,800 square feet of air rights. The property enjoys a strategic location near Fordham University and benefits from excellent public transportation access. The current asking price is $7,750,000, representing a pro-forma cap rate of 5.10% and a pro-forma NOI of $395,052. The property is zoned C4-5D, offering flexibility for future development. This stabilized investment offers a compelling combination of strong cash flow, long-term leases, and a desirable location in a vibrant urban setting. The building's history, combined with its modern updates, creates a unique and attractive investment opportunity for discerning buyers. The property's strong financial performance, coupled with its prime location and long-term leases, makes it an ideal addition to any investment portfolio.
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
- -73.8886
- Latitude
- 40.8603
