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Addeo & Sons Bakery 2372 Hughes Ave 4,600 SF 100% Leased Retail Building Bronx, NY 10458 $1,850,000 ($402.17/SF)
Investment Highlights
- Generational Ownership Opportunity | The former Addeo’s Bakery, a Belmont institution for decades, is being offered for sale for the first time
- Prime Belmont Retail Location | Steps from Arthur Avenue, the property benefits from exceptional pedestrian traffic generated by one of the Bronx’s pr
- Supply-Constrained Market | One of the Bronx’s most tightly held commercial corridors, where owner-users and investors compete for limited inventory
- Strong Transit and Anchor-Driven Foot Traffic | Minutes from the Fordham Metro-North station, the B/D trains at Fordham Road, and the Bx12 SBS corrido
- Delivered Vacant with Multiple Value-Creation Strategies | Owner-user opportunity, flagship retail location, or utilizing mixed-use footprint to maxim
Executive Summary
RIPCO Real Estate is pleased to offer for sale 2372 Hughes Avenue, a±4,600 SF two-story mixed-use corner building in the Belmont section of
the Bronx — the historic heart of the borough’s Little Italy. The propertycomprises a ±3,340 SF ground-floor commercial unit, long occupiedby Addeo’s Sons Bakery, a family-owned Italian bakery serving theneighborhood for over 80 years, and two residential apartments above.Situated on a ±4,371 SF lot at the corner of Hughes Avenue and East 186thStreet, the building sits one block from East 187th Street and steps fromArthur Avenue, a retail corridor lined with generations-old delis, bakeries,and cafes that drawstourists and shoppers from across the tri-state area.Delivered vacant, 2372 Hughes Avenue presents an ideal opportunity for anowner-user seeking a turnkey commercial space with income-producing apartments, or an investor pursuing a straightforward lease-up strategy in a supply-constrained, high-foot-traffic neighborhood. The R6/C1-4 zoning provides conversion potential, adding long-term development upside to an asset anchored by one of the Bronx’s most enduring commercial districts.
the Bronx — the historic heart of the borough’s Little Italy. The propertycomprises a ±3,340 SF ground-floor commercial unit, long occupiedby Addeo’s Sons Bakery, a family-owned Italian bakery serving theneighborhood for over 80 years, and two residential apartments above.Situated on a ±4,371 SF lot at the corner of Hughes Avenue and East 186thStreet, the building sits one block from East 187th Street and steps fromArthur Avenue, a retail corridor lined with generations-old delis, bakeries,and cafes that drawstourists and shoppers from across the tri-state area.Delivered vacant, 2372 Hughes Avenue presents an ideal opportunity for anowner-user seeking a turnkey commercial space with income-producing apartments, or an investor pursuing a straightforward lease-up strategy in a supply-constrained, high-foot-traffic neighborhood. The R6/C1-4 zoning provides conversion potential, adding long-term development upside to an asset anchored by one of the Bronx’s most enduring commercial districts.
Property Facts
Sale Type
Investment
Property Type
Building Size
4,600 SF
Building Class
C
Year Built
1930
Price
$1,850,000
Price Per SF
$402.17
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.06
Lot Size
0.10 AC
Opportunity Zone
Yes
Zoning
R6
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Very bikeable
80/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 03074-0015 | Improvements Assessment | $201,600 |
| Land Assessment | $68,850 | Total Assessment | $270,450 |
Property Taxes
Parcel Number
03074-0015
Land Assessment
$68,850
Improvements Assessment
$201,600
Total Assessment
$270,450
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