3242 Riverdale Ave The Bronx, NY 10463
- Commercial real estate
- 32,445 SF
Current Use by Public Records
- Commercial real estate
Property Details for 3242 Riverdale Ave
- Property size
- 32,445 SF
- Property type
- Commercial real estate
Description
This exceptional 10,815 square foot development site at 3242 Riverdale Avenue in the Bronx, New York (zip code 10463), presents a unique investment opportunity. The property boasts an as-of-right zoning entitlement (R6) allowing for the construction of a substantial 32,445 square foot residential building. Further development potential exists, with the possibility of increasing the buildable square footage to 51,912 square feet by incorporating a community facility. The land is priced at $90 per square foot, resulting in an asking price of $2,900,000. Currently situated on the lot is a two-story, 2,304 square foot house, which will be delivered vacant upon closing. This property offers developers a chance to capitalize on the strong demand for residential units in this desirable Bronx location. The site's location at 40.8836446 latitude and -73.9074017 longitude provides excellent accessibility and visibility. This is a rare opportunity to acquire a sizable development parcel with significant upside potential in a rapidly growing area. The existing structure provides immediate income potential or can be easily demolished to make way for new construction. Don't miss this chance to secure a prime piece of Bronx real estate.
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
- -73.9074017
- Latitude
- 40.8836446
