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2244 Westchester Ave 29,819 SF Office Building Bronx, NY 10462 $16,500,000 ($553.34/SF) 6.02% Cap Rate
INVESTMENT HIGHLIGHTS
- This branch currently holds $220,000,000 in deposits. This branch has served as Ponce Bank's flagship branch and corporate headquarters for 25 years.
- Located directly in front of the Castle Hill Avenue subway station (1.1 million+ annual riders), across from the Westchester Ave/Castle Hill bus stop
- Surrounded by a population of 312,000+ residents with an average household income over $68,000 within 2 miles. Over 1,727,000 residents within 5 miles
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Office
Building Size
29,819 SF
Building Class
A
Year Built
1970
Price
$16,500,000
Price Per SF
$553.34
Cap Rate
6.02%
NOI
$992,648
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
14,910 SF
Building FAR
0.71
Lot Size
0.96 AC
Zoning
R5, C1-2, C2-2
Parking
52 Spaces (1.74 Spaces per 1,000 SF Leased)
Walk Score®
Walker's Paradise (98)
Transit Score®
Rider's Paradise (93)
PROPERTY TAXES
| Parcel Number | 03823-0007 | Improvements Assessment | $2,223,360 |
| Land Assessment | $200,250 | Total Assessment | $2,423,610 |
PROPERTY TAXES
Parcel Number
03823-0007
Land Assessment
$200,250
Improvements Assessment
$2,223,360
Total Assessment
$2,423,610
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2244 Westchester Ave
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