12 Cedar St Bronxville, NY 10708-4102

Property Details for 12 Cedar St

Year built

1976

Lot size

0.74 lot acres

Property size

27,699 SF

Zone code

BA

Property type

Grocery and convenience stores

APN

552401 4./3/17.B

APU

5524014317B

Description

This exceptional investment opportunity presents a vacant, 100% occupied, single-tenant retail property located at 12 Cedar St, Bronxville, NY 10708. The property, classified as a grocery store, boasts a long-term lease with a corporate guarantee from Albertsons, commencing January 1, 1974, and expiring January 1, 2043. This translates to a substantial remaining lease term of 19 years, providing a secure and predictable income stream. The property's Net Operating Income (NOI) is $1,415,040, resulting in an attractive 5.5% capitalization rate. Situated in the affluent Westchester County suburb of Bronxville, this property benefits from a highly desirable and stable location with extremely high barriers to entry due to restrictive zoning laws. The building is the only large, stand-alone grocery store permitted in Bronxville, ensuring its irreplaceable position within the market. The absolute triple-net (NNN) lease structure minimizes management responsibilities, making this an ideal passive investment with excellent potential for capital gains sheltering, including 1031 exchange opportunities. The tenant has occupied the premises since 1974, demonstrating a long-standing commitment to the location. This offering presents a rare chance to acquire a stable, high-performing asset in a prime location with significant long-term growth potential.

Location Insight

City

Bronxville

County

Westchester

State

New York

Longitude

-73.834

Latitude

40.9392

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments