Former Walgreens

Highlights:

• Exceptional Bronx Parking & Drive-Thru — Approximately 100 on-site parking spaces plus an existing drive-thru, offering an extremely rare combination for a freestanding NYC retail property.
• 37+ Years of Site Control – Leasehold interest extends through October 31, 2063, providing substantial remaining term and flexibility for a long-term tenant.
• Highly Visible Signalized Location – The property is positioned at Soundview Avenue and Story Avenue, with traffic counts of approximately 7,700+ VPD on Soundview Avenue and 17,048+ VPD on Story Avenue.
• Established Retail Trade Area – The surrounding corridor includes numerous national retailers and service tenants, including CVS, McDonald’s, Dunkin’, Popeyes, Aldi, Burlington, Chase, T-Mobile, AT&T, and others.
• Substantial Bronx Retail Density – The property benefits from a densely developed surrounding residential base that supports significant consumer traffic and commercial activity.
• Strategic NYC Location – The Bronx provides direct connectivity to Manhattan, Westchester County, and the broader Tri-State region through major roadways, subway lines, and Metro North service.

Description:

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The Bronx is one of New York City’s most dynamic and densely populated markets, offering a strong combination of urban density, institutional tenancy, and long term real estate stability. As the city’s northernmost borough, the Bronx benefits from direct access to Manhattan, Westchester County, and the broader Tri-State region through an extensive transportation network that includes the Metro North, multiple subway lines, and major arterial roadways. These connections support significant residential and commercial activity throughout the borough.

The market has experienced substantial public and private investment, contributing to continued multifamily, retail, industrial, and mixed use development. Despite its proximity to Manhattan, the Bronx remains one of New York City’s more affordable real estate markets, helping attract both investors and tenants. Dense surrounding neighborhoods generate strong consumer foot traffic, while major institutions and attractions such as Fordham University, the Bronx Zoo, and the New York Botanical Garden serve as important economic and employment anchors.

The Bronx economy is supported by a diverse mix of industries, including healthcare, logistics, trade, financial services, and retail. The borough is home to approximately 20,000 businesses and continues to experience growth across professional services, healthcare, and consumer-oriented sectors. Major employers and national credit tenants contribute to stable income characteristics and consistent demand for well-located commercial properties.

Ongoing infrastructure investment, streetscape improvements, transit enhancements, and redevelopment projects continue to strengthen the Bronx’s commercial environment. Combined with its large population, extensive transportation network, institutional anchors, and limited supply of well positioned real estate, these fundamentals support long term demand and reinforce the Bronx as an established investment market within New York City.

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