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Newer-Construction Expired 421-A Elevator Mixed-Use Building Steps from The Hub

$3,250,000

446 East 149th Street, Bronx, NY 10455

Active
Last Updated: 10/19/2026

7.56

Cap Rate

245,743

NOI

Details:
Cap Rate:    7.56%
NOI:    $245,743
Building Size:    12,539 sqft
Lot Area:    2,544 sqft
Units:    11
Price Per Sqft:    $259
Price Per Unit:    $295,455
Zoning:    C4-4 (R7-2 Equivalent)
Floors:    6
Highlights:
  • Modern elevator construction: A 6-story elevator building built in 2008 and updated in 2020, totaling 12,539 square feet.
  • Free-market upside upon turnover: Recently expired 421-a tax exemption allows ownership to capture market rents upon unit turnover, a clear path to organic income growth
  • Mixed-use profile: 10 residential units above a ground-floor retail space.
  • Long-term commercial tenancy: The ground-floor retail is leased to an established neighborhood butcher and meat market on a long-term lease running through 2041, with built-in escalations and tax pass-throughs
  • Uniform, efficient unit layout: All 10 apartments are one-bedrooms of about 800 SF. The consistent layouts simplify leasing, turnover, and management.
  • Heart of The Hub: On the south side of East 149th Street between Bergen and Brook Avenues, steps from The Hub, the South Bronx's busiest retail and transit corridor
  • Exceptional transit access: The 2 and 5 trains at 3rd Avenue–149th Street are about two blocks away, and the Bx4 and Bx19 buses stop one block away. The site has a Walk Score of 96 and a Transit Score of 100, with a quick commute to Manhattan.
  • Strong neighborhood demand drivers: Near Lincoln Hospital, Hostos Community College, Yankee Stadium, and the Bronx Terminal Market. Mott Haven's growing restaurant and cultural scene adds to the draw
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