974-976 E Gun Hill Rd
Bronx, NY 10469
Retail Property For Sale

The Oak & Avery Group has been retained to exclusively represent ownership in the sale of 974-976 E Gun Hill Road, Bronx. The 5-unit mixed-use corner property is located between Colden Ave and Paulding Ave in the Williamsbridge neighborhood of The Bronx. The building is in walking distance to the Metro North Williamsbridge Train Station, Gun Hill Rd bus stop (2,5) and the Bronx River Parkway. The ~8,000 sq. Ft. mixed-use building is comprised of three apartments over two retail units. The residential units are all two-bedroom layouts, not subject to rent stabilization/HPD guidelines. One of the two commercial units is occupied by a church and the other, Palomba Music Academy, is a very well established owner-occupied music school which has been operating for over 50 years. The seller is flexible in regard to vacating the premise or signing a lease congruent with the rate represented in the rent roll. The building is meticulously maintained and benefits from numerous, recent capital improvements including a new boiler, hot water heaters, kitchens and bathrooms. There are two boilers on premise,an oil boiler which provides heat and hot water for the entire building and a gas boiler, which is used for hot water in the summer. There are two above ground 275 gallon oil tanks and 3 sub-pumps. Additionally, there is off-street parking for 2 cars in the rear of the building. This is an opportunity to acquire a prime asset that has been under the same ownership for over 50 years.