883 Bryant Ave The Bronx, NY 10474
- Retail residential properties
- 22,453 SF
- 0.11 lot acres
Current Use by Public Records
- Retail residential properties
Property Details for 883 Bryant Ave
- Year built
- 2022
- Lot size
- 0.11 lot acres
- Property size
- 22,453 SF
- Zone code
- R6
- Property type
- Retail residential properties
- APN
- 02761-0107
- APU
- 27610107
Description
This exceptional investment opportunity presents a stalled construction site at 883 Bryant Avenue in the Bronx, New York. Currently configured as an eight-story, mixed-use building encompassing 25,523 square feet, the property is designed to house 41 units, including 40 residential units and one community facility. The asking price is $4,500,000, translating to $176 per square foot. The building boasts an impressive Net Operating Income (NOI) of $583,307. Situated on a 5,000 square foot lot, the property is zoned ZFA. The building features elevator access, a shared laundry room, Wi-Fi in common areas, a recreation room, and security cameras. Select units offer patios or balconies. Interior finishes include hardwood flooring, granite countertops, white laminate cabinets, and stainless steel kitchen appliances. This prime location offers excellent accessibility, with proximity to the Hunts Point and Intervale Avenue subway stations and a future Metro-North station. The 421a tax abatement is renewed until 2031, providing significant long-term tax benefits. This is a rare chance to acquire a substantial multifamily development project in a rapidly growing area of the Bronx, poised for significant appreciation. The property is currently vacant, allowing for immediate completion and occupancy.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $3,940,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $3,595,000
- 6.5%
- $3,770,000
- 7%
- $4,240,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $3,555,000
- Geo Method
- $3,950,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $4,465,000
- Retail
- $3,970,000
- Mixed-Use
- $4,050,000
- Hospitality
- $4,690,000
- Educational
- $4,335,000
- Residential Income
- $4,560,000
- Energy
- $3,530,000
- Income-Based Land
- $4,115,000
- Food Service
- $4,235,000
Location Insight
- Map
- Local Demand
- City
- Bronx
- County
- Bronx
- State
- New York
- Longitude
- -73.8871
- Latitude
- 40.8194
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
