For Sale
$3,300,000

2582 3Rd AveThe Bronx, NY 10454

Prime Bronx location, high NOI, strong cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
116
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.

Highlights

  • High-traffic Avenue location, two blocks from the 6 train.
  • Mixed-use building totaling 6,500 square feet, including two market-rate apartments and one retail store.
  • 4,200-square-foot vacant retail space plus a 2,500-square-foot basement, divisible.
  • $289,000 gross income, $234,000 net income (projected with occupied retail), 7.1% capitalization rate.

Property Details for 2582 3Rd Ave

Property type
Mixed-use properties
Square Feet
6,386 SF

Location Insight

City
The Bronx
County
Bronx
State
New York
Latitude
40.8115108
Longitude
-73.9258096
2582 3Rd Ave, The Bronx, New York

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2582 3Rd Ave
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