650 Tremont AveThe Bronx, NY 10457

Property Details for 650 Tremont Ave

Year built

1931

Lot size

0.29 AC

Property size (Sq ft)

11,250 SF

Zone code

C45X

Property type

Retail properties

Property subtype

Retail space

APN

02947-0025

APU

29470025

Description

This exceptional retail property, located at 650 E Tremont Avenue in the Bronx, presents a unique investment opportunity. Situated on a highly visible corner lot at the intersection of East Tremont Avenue and Belmont, this single-tenant building boasts a prominent street presence ideal for attracting a diverse customer base. The building previously housed a Walgreens, indicating a strong track record of successful retail operations within this location. The structure is in very good condition, minimizing the need for significant capital improvements upon acquisition. The property's classification as a retail space within the Bronx County, specifically the BRONX submarket, highlights its strategic position within a densely populated and commercially active area. The single-tenancy aspect offers streamlined management and potential for long-term lease agreements. This corner location offers significant advantages, including increased visibility and accessibility for potential customers. The property's size and layout are well-suited for a variety of retail uses, making it an attractive option for both established businesses and new ventures seeking a high-traffic location in a thriving Bronx neighborhood. This is a rare opportunity to acquire a well-maintained, high-visibility retail property in a prime location. The building's history as a successful Walgreens further underscores its potential for continued success. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $2,734,143

  6.5%

  $2,523,824

  7%

  $2,343,551

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,704,211

  Geo Method

  $3,704,211

• Alternative Use

  Use

  Valuation

  Residential

  $2,128,940

  Hospitality

  $1,950,098

  Educational

  $1,622,458

  Medical

  $1,678,257

  Retail

  $2,523,824

Location Insight

City

Bronx

County

Bronx

State

New York

Latitude

40.8458

Longitude

-73.8924

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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