2582 3Rd Ave The Bronx, NY 10454

This exceptional mixed-use property, located at 2582 Third Avenue in the vibrant Mott Haven neighborhood of the Bronx, presents a compelling investment opportunity. The 6,386 square foot building boasts a 7.09% cap rate and a strong net operating income (NOI) of $234,129. Currently, the property features two free-market apartments and a store, achieving 100% occupancy. A significant opportunity exists with a vacant 4,200 square foot retail space and a 2,500 square foot basement, both divisible to suit various tenants. The building sits on a 4,656 square foot lot and is ideally situated on a busy avenue, just two blocks from the 6 train subway station, ensuring high visibility and accessibility. The asking price is $3,300,000, translating to $516.76 per square foot. With a projected gross income of $289,000, this property offers substantial potential for increased revenue through the lease-up of the vacant retail space and basement. This is a rare chance to acquire a well-positioned mixed-use asset in a rapidly developing area of the Bronx. The property's strong financials and prime location make it an attractive investment for both seasoned and emerging investors.