New York, NY 10462

Property

Ownership: For Sale
Type: mixed-use
Lot Size: 0.1 Acres

Financials

Price:$3,280,000
Annual Taxes:$38,223
505 Park Ave, New York, NY 10022
Listing Courtesy of Chase Global Realty Corp

Rare corner mixed use investment property located in the heart of a busy Bronx commercial corridor.

Description

Rare corner mixed-use investment property located in the heart of a busy Bronx commercial corridor. Situated on highly visible White Plains Road, this street-front corner building benefits from heavy vehicle and pedestrian traffic, dense surrounding residential population, and strong neighborhood demand. This 2-story mixed-use building sits on an approximately 45 x 90 lot and offers approximately 7,300 SF of usable space, with potential maximum buildable area of approximately 12,285 SF under R6 / C1-2 zoning, subject to architect review and government approvals. The property features 9 income sources, including 5 retail stores, 2 offices, and 2 residential units. The five retail stores are long-established businesses, with some operating for over 30 years, providing stable rental income. Current annual rental income is close to $290,000, with potential annual income estimated at approximately $350,000+ with future rent adjustments. Prime location near subway and bus transportation, including nearby 6 train / Q44 bus access, and approximately 15 minutes by car to Downtown Flushing / Main Street. Excellent opportunity for investors seeking a high-exposure corner asset with stable cash flow, diversified income, long-term holding value, and future upside potential.

Amenities

  • Electricity Connected
  • Natural Gas Connected
  • Sewer Connected
  • Water Connected

Long Island MLS

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.