3530 Mickle AveBronx, NY 10469

Property Details for 3530 Mickle Ave

Year built

2017

Lot size

0.42 AC

Property size (Sq ft)

21,047 SF

Zone code

R5

Property type

Apartment buildings

APN

04727-0024

APU

47270024

Description

This exceptional 17,000 square foot retail property, situated on a 0.39-acre lot at 3530 Mickle Ave in the Bronx, NY, presents a lucrative investment opportunity. The building boasts 28 individual units, each equipped with modern amenities including all stainless steel appliances and energy-efficient Mitsubishi AC/heating units. Further enhancing tenant comfort and security are digital video intercom systems and comprehensive interior and exterior surveillance cameras. The building is entirely electric, eliminating gas costs, and features 28 individual hot water tanks. A convenient studio super unit is also included. Ample parking is provided with 24 outdoor spaces. The building dimensions measure 185 feet by 100 feet. Significant tax advantages are available through the existing 421a tax abatement. All utilities are the responsibility of the tenants, minimizing operational expenses for the owner. This property generates rental income, making it an attractive option for investors seeking a strong return on investment in a vibrant Bronx location. The asking price is $11,500,000. This is a rare opportunity to acquire a well-maintained, income-producing retail building with substantial upside potential. The property's features, combined with its strategic location and existing tax benefits, position it for continued success and strong cash flow.

• CAP approach

  CAP return

  Valuation

  6%

  $4,314,825

  6.5%

  $3,982,916

  7%

  $3,698,422

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,262,502

  Geo Method

  $4,262,502

• Alternative Use

  Use

  Valuation

  Residential

  $3,982,916

  Hospitality

  $3,648,329

  Educational

  $3,035,367

  Medical

  $3,139,758

  Retail

  $4,721,682

Location Insight

City

Bronx

County

Bronx

State

New York

Latitude

40.8799

Longitude

-73.8466

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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