2500 Boston RdBronx, NY 10467

Property Details for 2500 Boston Rd

Year built

1932

Lot size

0.14 AC

Property size (Sq ft)

6,076 SF

Zone code

C8-1

Property type

Auto shops

APN

04435-0005

APU

44350005

Description

This exceptional opportunity presents a 6,076 sq ft commercial warehouse building situated on a 9,711 sq ft lot in the Bronx, NY (10467), at the high-traffic corner of Boston Road & Mace Avenue (approx. 14,000 cars daily). The property, zoned C8-1, boasts a 41-year history as a successful auto body shop, currently generating over $1 million in annual net income. Features include seven bays, 26 parking spaces, multiple private offices, a waiting room, 16-20 foot ceilings, two oversized 14-foot doors accommodating tractor-trailers, motion sensor lights, 3-phase power, central air conditioning, LED lighting, four Benwill one-arm lifts, two heavy-duty frame machines, two paint spray booths, a conveniently located bathroom with safety features, and a sprinkler system. The building's prime location and high visibility ensure maximum customer attraction. This turnkey business, capable of handling 17-20 cars simultaneously, offers a unique opportunity for an entrepreneur in the automotive industry to own rather than lease, especially considering area lease rates of $35,000-$40,000 per month. The asking price is $4,500,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,476,680

  6.5%

  $1,363,089

  7%

  $1,265,726

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,000,603

  Geo Method

  $2,000,603

• Alternative Use

  Use

  Valuation

  Residential

  $1,149,817

  Hospitality

  $1,053,226

  Educational

  $876,272

  Medical

  $906,408

  Retail

  $1,363,089

Location Insight

City

Bronx

County

Bronx

State

New York

Latitude

40.8633

Longitude

-73.8649

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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