707 E Tremont Ave
Bronx, NY 10457
T-Mobile - Bronx, NY · Retail Property For Sale

The subject offering is a 3,500 SF two-story retail property located on E Tremont Avenue in the Belmont neighborhood of the Bronx, NY. The property is 100% net-leased to T-Mobile, which has just over five years remaining on their lease. T-Mobile executed a 10-year lease in 2007, and they just recently executed their first and only renewal option, which runs through June 2022. This is a corporate guaranteed lease (T-Mobile is rated "BB" by S&P and Ba3 by Moody's). In addition, T-Mobile pays 100% of the real estate taxes. The property rests on a 2,263 SF lot, and it is zoned C4-4. There are 5,552 SF of additional air rights (total buildable square footage is 9,052 SF). There is 2,000 SF on the ground floor, as well as 1,500 SF on the second-story. The property is located on a strong retail corridor on East Tremont Avenue. Within two blocks of the property are retailers Banco Popular, Foot Locker, Dunkin Donuts, Checker's, Chase Bank, Rite Aid and McDonald's.