12 Cedar StBronxville, NY 10708

  • Grocery and convenience stores
  • 27,699 SF

Property Details for 12 Cedar St

Year built
1976
Lot size
0.74 AC
Property size (Sq ft)
27,699 SF
Zone code
BA
Property type
Grocery and convenience stores
APN
552401 4./3/17.B
APU
5524014317B

Description

This exceptional investment opportunity presents a vacant, 100% occupied, single-tenant retail property located at 12 Cedar St, Bronxville, NY 10708. The property, classified as a grocery store, boasts a long-term lease with a corporate guarantee from Albertsons, commencing January 1, 1974, and expiring January 1, 2043. This translates to a substantial remaining lease term of 19 years, providing a secure and predictable income stream. The property's Net Operating Income (NOI) is $1,415,040, resulting in an attractive 5.5% capitalization rate. Situated in the affluent Westchester County suburb of Bronxville, this property benefits from a highly desirable and stable location with extremely high barriers to entry due to restrictive zoning laws. The building is the only large, stand-alone grocery store permitted in Bronxville, ensuring its irreplaceable position within the market. The absolute triple-net (NNN) lease structure minimizes management responsibilities, making this an ideal passive investment with excellent potential for capital gains sheltering, including 1031 exchange opportunities. The tenant has occupied the premises since 1974, demonstrating a long-standing commitment to the location. This offering presents a rare chance to acquire a stable, high-performing asset in a prime location with significant long-term growth potential.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $6,731,824
    6.5%
    $6,213,992
    7%
    $5,770,135
  • Comparable approach

    Method
    Valuation
    Relative Method
    $9,120,261
    Geo Method
    $9,120,261
  • Alternative Use

    Use
    Valuation
    Residential
    $5,241,734
    Hospitality
    $4,801,400
    Educational
    $3,994,709
    Medical
    $4,132,093
    Retail
    $6,213,992

Location Insight

City
Bronxville
County
Westchester
State
New York
Latitude
40.9392
Longitude
-73.834
CBSA code
35620
CBSA name
NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2020
-
$2,682,310
$5,370,690
$8,053,000
-
$2,682,310
$5,370,690
$8,053,000

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