1506 Bronxdale AveBronx, NY 10462

Property Details for 1506 Bronxdale Ave

Year built

1932

Lot size

0.06 AC

Property size (Sq ft)

1,546 SF

Zone code

R4

Property type

Drive through restaurants

APN

04063-0020

APU

40630020

Description

This exceptional commercial property presents a rare investment opportunity in the thriving Bronx, situated at the crossroads of Parkchester and Morris Park. Priced at $1,390,000, this 1,546 square foot retail space sits on a 0.06-acre lot and is currently operating as a successful Asian restaurant, included in the sale. The property's strategic location offers unparalleled access to the highly anticipated Metro North Parkchester station, slated to open in 2026, a mere 5-minute walk away. This convenient proximity promises increased foot traffic and enhanced visibility for future businesses. The building is zoned R6-1 & C2-4, providing flexibility for a variety of commercial uses. The main floor features a well-equipped kitchen and spacious dining area, perfectly suited for restaurant operations or adaptable to other retail ventures. A full basement provides ample storage and office space, adding to the property's functionality and value. This turnkey operation offers immediate income potential and significant long-term growth prospects, making it an ideal investment for savvy entrepreneurs and seasoned investors alike. The property's prime location, combined with the upcoming Metro North station and versatile zoning, ensures a strong return on investment. Don't miss this chance to own a piece of the Bronx's vibrant commercial landscape.

• CAP approach

  CAP return

  Valuation

  6%

  $375,732

  6.5%

  $346,830

  7%

  $322,056

• Comparable approach

  Method

  Valuation

  Relative Method

  $509,041

  Geo Method

  $509,041

• Alternative Use

  Use

  Valuation

  Residential

  $292,564

  Hospitality

  $267,987

  Educational

  $222,962

  Medical

  $230,630

  Retail

  $346,830

Location Insight

City

Bronx

County

Bronx

State

New York

Latitude

40.8427

Longitude

-73.8538

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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