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3903-3907 Dyre Ave
Bronx, NY 10466
Retail Property For Sale
Investment Highlights
- Under valued property with Intrinsic Development & Higher Commercial Rental Income Opportunities
- Stable Income, on Main thoroughfare, Near Subway, Bus Stop on Corner,
Executive Summary
50’ SF wide RETAIL BUILDING for Sale with (3) STORES & AIR RIGHTS to increase the rental capacity (as was done @ the adjacent property 3911-3915 Dyre Av.) from 3 to 6 units, and increase rent rolls significantly & command a larger Cap Rate or keep “as is”. Located on the corner of East 233rd St. & Dyre Ave., Bronx NY. This corridor is known for its heavy vehicular traffic & moderate to heavy foot traffic in mornings & evenings. 1 Block away from the IRT #5 train stop on Dyre Ave. Bldg is minutes from the Shopwell Plaza Shopping Center on Boston Road, the Bay Plaza Shopping & Bartow Mail Shopping Centers. The (3) current stores include long term tenants AllState Ins Co. & neighborhood popular Restaurant Faith’s Kitchen; and Esthetic Essence Salon. Each unit has their own heating & A/C systems, thus tenant pays own utilities. Bldg has like new exterior stucco walls, relatively new roof, sidewalk, and new utility room w/minor storage space. Upgraded electrical, gas paneling & services done. Rents are about 1/3rd “below” market rents, coupled with its development potential makes this investment both attractive to investors or developers. Lastly, AllState & Esthetic leases have EXPIRED & Faith’s Rest. is expected to expire on Aug. 31, 2026. Renewals negotiations are stayed.
Property Facts Under Contract
Sale Type
Investment
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
2,310 SF
Building Class
B
Year Built
1988
Price
$1,300,000
Price Per SF
$562.77
Cap Rate
4.49%
NOI
$58,362
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.35
Lot Size
0.15 AC
Zoning
C1-4, R4, R4A, - C1-4 Zoning. It is not a standalone zone but is
superimposed on a Residential District determined by the Type of ie. R type.
R4, R4A: 1-2 family
Frontage
50’ on Dyre Ave
Amenities
- Courtyard
- Fenced Lot
- Restaurant
- Security System
- Signage
- Tenant Controlled HVAC
- Storage Space
- Air Conditioning
- Smoke Detector
Property Taxes
| Parcel Numbers | Improvements Assessment | $254,790 | |
| Land Assessment | $72,450 | Total Assessment | $327,240 |
Property Taxes
Parcel Numbers
Land Assessment
$72,450
Improvements Assessment
$254,790
Total Assessment
$327,240
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