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1141 Washington Ave 4,100 SF 100% Leased Retail Building Bronx, NY 10456 $1,375,000 ($335.37/SF) 8.07% Cap Rate
Investment Highlights
- Vacant Free Market Mixed Use Building For Sale
- Two residential apartments consisting of one 3-bedroom, 2-bathroom apartment and one 4-bedroom, 2-bathroom apartment
- Easy access to the 2, 4, 5, and 6 subway lines
- Newly renovated vacant mixed-use building featuring approximately 1,600 SF of retail space
- Conveniently located near major hospitals
Executive Summary
Investment Property Realty Group (IPRG) has been exclusively retained to sell 1141 Washington Avenue, located in the Morrisania section of the Bronx.
The subject property is a newly renovated vacant mixed-use building featuring approximately 1,600 SF of retail space, along with two residential apartments consisting of one 3-bedroom, 2-bathroom apartment and one 4-bedroom, 2-bathroom apartment.
All units have been recently renovated and the building will be delivered vacant, allowing either an end user or investor to take advantage of the immediate upside and lease the property at current market rents. Each residential tenant is responsible for their own utilities, helping to minimize the landlord’s operating expenses.
The property is conveniently located near major hospitals and offers easy access to the 2, 4, 5, and 6 subway lines, providing excellent transportation connectivity throughout the Bronx and Manhattan.
The subject property is a newly renovated vacant mixed-use building featuring approximately 1,600 SF of retail space, along with two residential apartments consisting of one 3-bedroom, 2-bathroom apartment and one 4-bedroom, 2-bathroom apartment.
All units have been recently renovated and the building will be delivered vacant, allowing either an end user or investor to take advantage of the immediate upside and lease the property at current market rents. Each residential tenant is responsible for their own utilities, helping to minimize the landlord’s operating expenses.
The property is conveniently located near major hospitals and offers easy access to the 2, 4, 5, and 6 subway lines, providing excellent transportation connectivity throughout the Bronx and Manhattan.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
4,100 SF
Building Class
B
Year Built
1920
Price
$1,375,000
Price Per SF
$335.37
Cap Rate
8.07%
NOI
$110,979
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Zoning
R7-2/ M1-1/ MX-7
Frontage
22’ on Washington Ave
Amenities
- Restaurant
- Skylights
- Awning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Adinkra Bar & Restaurant
- Accommodation and Food Services
- -
- -
- -
- B X Pizza Bar
- Accommodation and Food Services
- -
- -
- -
- Jesus Sinchi and Marcia Zhagnay
- -
- -
- -
- -
- Luis Uruchima
- -
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Adinkra Bar & Restaurant | Accommodation and Food Services | - | - | - | ||
| B X Pizza Bar | Accommodation and Food Services | - | - | - | ||
| Jesus Sinchi and Marcia Zhagnay | - | - | - | - | ||
| Luis Uruchima | - | - | - | - |
Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 02388-0048 | Improvements Assessment | $20,658 |
| Land Assessment | $1,268 | Total Assessment | $21,926 |
Property Taxes
Parcel Number
02388-0048
Land Assessment
$1,268
Improvements Assessment
$20,658
Total Assessment
$21,926
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