788 E Tremont Ave, Bronx, NY 10460
- Retail residential properties
- 4,250 SF
- 0.06 lot acres
Current Use by Public Records
- Lambur Lux Jewelry / (Bike/Boat/Book/etc) Store
- Mee Wha Gift Shop / (Bike/Boat/Book/etc) Store
- Castillo Services N Solutions / Tax Preparation
Property Details for 788 E Tremont Ave
- Year built
- 1924
- Lot size
- 0.06 lot acres
- Zone code
- C44A
- Property type
- Retail residential properties
- APN
- 02956-0016
- APU
- 29560016
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jun 13, 2023 | — | Izia Rokosz | — | Deed · related | — |
| Jun 6, 2023 | — | Jack Ancona | — | Deed · related | — |
| Jun 1, 2023 | — | Jack Acona | — | Deed · related | $200k · 788 East Tremont LLC |
| Jul 25, 2017 | — | Jack Ancona | — | Deed · related | $1.1M · Izia Rokosz |
| — | — | Jack Ancona | — | Deed Of Trust · related | $385k · Astoria Federal S&l Assn |
| — | — | Jack Ancona | — | Deed Of Trust · related | $1.1M · Izia Rokosz |
| — | — | Jack Ancona | — | Deed Of Trust · related | $150k · Greenpoint Bank |
Description
This exceptional investment opportunity presents a three-story, 5,435 square foot retail building situated at 788 E Tremont Ave in the Bronx, NY 10460. Currently boasting 100% occupancy with seven tenants, including six ground floor retail spaces and a second and third-floor embroidery shop, this property offers a strong, stabilized income stream. The ground floor features 25 feet of frontage on E Tremont Avenue, a prime retail corridor in the Tremont neighborhood, surrounded by established businesses such as Dunkin Donuts, Foot Locker, and Chase Bank. The building sits on a 2,500 square foot lot zoned C4-4A/R7A, allowing for a 4.0 FAR and a total buildable square footage of 10,000 square feet. Significant upside potential exists with 4,565 square feet of air rights and R7A zoning permitting a potential conversion of the upper floors to residential use. The lower level is currently being developed into five individual storage units, adding further revenue streams. The property features recently converted electric heat, with existing gas meters for future flexibility. This is a rare chance to acquire a multi-tenant retail asset in a thriving Bronx neighborhood, offering a current cap rate of 7.84% (NOI $186,484) and a pro-forma cap rate of 8.32% (Pro-Forma NOI $197,902). The asking price is $2,380,000 ($437.90/sq ft). The building was constructed in 1924 and consists of one building with three stories.
Value Estimations
-
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $945,000 Current use
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Location Insight
- Map
- Local Demand
- City
- Bronx
- County
- Bronx
- State
- New York
- Longitude
- -73.8883
- Latitude
- 40.8437
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
