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3320 Fort Independence St 1,125 SF Retail Building Bronx, NY 10463 $800,000 ($711.11/SF) 6.62% Cap Rate
INVESTMENT HIGHLIGHTS
- Freestanding 1,125-square-foot retail building located on a high-visibility corner in Kingsbridge.
- Offers stable cash flow and upside through air rights of 2,000–2,800 square feet for vertical expansion.
- Surrounded by dense retail corridors and residential neighborhoods, ensuring strong local demand.
- Currently leased to a laundromat under a net lease generating $53,000 annual income with 2% escalations.
- Excellent transit access with a Transit Score of 100, steps from the 238th Street 1-train station.
EXECUTIVE SUMMARY
3320 Fort Independence St is a freestanding 1,125 SF retail property with a 7-year (4 years remaining) Net lease to a Laundromat ($53,000/year net operating income). Located in Kingsbridge, the brick building sits on a 1,400SF R6-zoned lot (estimated approx. 3 stories / 3,000+SF buildable) – ideal for signage and visibility on a busy corner. This turnkey asset offers dual appeal: stable cash yield for buy-and-hold investors or redevelopment upside (owner can deliver vacant or negotiate a tenant buyout). Close to the 238thSt, 1-train and dense retail corridors, it’s a rare Bronx offering combining immediate income with multi-family expansion potential.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
1,125 SF
Building Class
C
Year Built
1920
Price
$800,000
Price Per SF
$711.11
Cap Rate
6.62%
NOI
$53,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.80
Lot Size
0.03 AC
Zoning
R6
Frontage
AMENITIES
- Signage
Walk Score®
Very Walkable (89)
Transit Score®
Rider's Paradise (100)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 03258-0041 | Total Assessment | $118,620 (2025) |
| Land Assessment | $36,000 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $82,620 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
03258-0041
Land Assessment
$36,000 (2025)
Improvements Assessment
$82,620 (2025)
Total Assessment
$118,620 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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3320 Fort Independence St
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