3160 Webster AveThe Bronx, NY 10467

Property Details for 3160 Webster Ave

Year built

2015

Lot size

0.27 AC

Property size (Sq ft)

9,813 SF

Zone code

R7D

Property type

Retail space

APN

03357-1002

APU

33571002

Description

This exceptional mixed-use property in the Bronx, NY, presents a compelling investment opportunity. The 10-story, 79,752 square foot building, constructed in 2015, comprises a 61-unit apartment building (9 studios, 19 one-bedrooms, 22 two-bedrooms, and 9 three-bedrooms) and a separate commercial condominium. The residential component benefits from a 420C tax exemption expiring in 2049 and features approximately $5.12 million in assumable financing at a 4.71% interest rate, also expiring in 2049. The commercial condominium, encompassing 10,000 usable square feet, is currently leased to a medical tenant under a NNN lease structure until 2038, with three five-year renewal options. This portion benefits from an ICAP tax abatement expiring in 2043 and includes approximately $5.275 million in assumable financing at a 5.5% interest rate, expiring in November 2025. The property sits on an 11,631 square foot lot at 3160 Webster Avenue, boasting 100 feet of frontage and is zoned R7D/C2-4 (Inclusionary Housing Zone). The building's strong NOI of $866,411 makes it an attractive addition to any portfolio. This is a rare opportunity to acquire a well-positioned, income-generating asset with significant upside potential in a rapidly developing area of The Bronx.

• CAP approach

  CAP return

  Valuation

  6%

  $1,856,310

  6.5%

  $1,713,510

  7%

  $1,591,120

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,333,450

  Geo Method

  $1,333,450

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $3,341,520

  Mixed-Use / Specialty

  $1,707,400

  Hospitality / Lodging

  $1,252,670

  Office

  $1,697,260

  Institutional / Educational

  $1,775,010

  Residential Income

  $2,076,760

  Multifamily

  $2,490,760

  Automotive / Energy

  $1,521,440

  Parking / Income-Based Land

  $525,030

  Restaurant / Food Service

  $888,034

  Healthcare / Senior Housing

  $1,750,910

Location Insight

City

Bronx

County

Bronx

State

New York

Latitude

40.8724

Longitude

-73.875

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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