548 183rd St Bronx, NY 10458-7980
- Retail residential properties
- 24,094 SF
- 0.13 lot acres
Jun 06, 2024
Current Use by Public Records
- Bluesky Living At 183rd Street / Apartment Building / Apartment Rental Agency
Property Details for 548 183rd St
- Year built
- 1912
- Lot size
- 0.13 lot acres
- Property size
- 24,094 SF
- Zone code
- C44D
- Property type
- Retail residential properties
- APN
- 03051-0031
- APU
- 30510031
Description
This exceptional 900-square-foot retail space, ideally suited for a restaurant or cafe, is located at 548 East 183rd Street in the Belmont neighborhood of the Bronx, New York. The property boasts a built-out cafe configuration, saving the new tenant significant time and expense on build-out. Its strategic location directly across from St. Barnabas Hospital ensures a consistent flow of foot traffic from hospital staff, patients, and visitors. Furthermore, its proximity to Little Italy, within a few blocks, provides access to a vibrant and densely populated residential area. The property benefits from excellent public transportation access, with the B and D subway lines at the 182nd-183rd Street station just a short distance away, as well as the BX15 bus line. This ensures easy accessibility for both employees and customers. The area is also home to a thriving mix of established businesses, including Zero Otto Nove, Enzo's, San Gennaro, Roberto's, Rite Aid, CTown Supermarkets, Artuso Pastry Shop, Dollar Tree, Clinton Hall, Prince Coffee House, and Gong Cha, creating a strong and supportive commercial environment. This turnkey opportunity presents a rare chance to establish a successful business in a high-demand location with excellent visibility and convenient access to public transportation. The property is a single-tenant space within Bronx County, NY, zip code 10458.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $6,140,000
- ML approach
- $6,140,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $8,040,000
- 6.5%
- $7,425,000
- 7%
- $6,895,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $8,509,000
Market price range: $4.05M - $9.01M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $6,020,000 Current use
- WAREHOUSE, STORAGE
- $9,340,000 Change: +55% Conversion: Difficult
- INDUSTRIAL (GENERAL)
- $8,955,000 Change: +49% Conversion: Moderate
- OFFICE BUILDING
- $8,790,000 Change: +46% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Bronx
- County
- Bronx
- State
- New York
- Longitude
- -73.8912
- Latitude
- 40.8541
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA