Single Story Retail Strip for Sale

Highlights:

• Turnkey Asset — Recently gut-renovated with new building systems and minimal near-term capital needs.
• Popeyes-Anchored — National-brand tenant providing stable, credit-backed cash flow.
• Long-Term Income — Fully leased through 2033–2036 with built-in annual rent increases.
• Predominantly NNN — Limited landlord responsibilities with tenants covering most operating expenses.
• Prime Transit Location — Directly across from the Pelham Bay 6 train terminal with immediate access to I-95.
• Tax Abatement Upside — Pending ICAP approval expected to reduce real estate taxes.
• Strong Market Fundamentals — Located in the affluent and highly accessible Pelham Bay submarket.
• Built-In Rent Growth — Annual contractual escalations across all leases.
• Additional NOI Potential — Expected ICAP tax savings provide further income growth.
• Mark-to-Market Opportunity — Future upside upon lease renewals in a high-demand retail corridor.
• Development Potential — Zoning may allow for future redevelopment or unused air rights opportunities.

Description:

Kassin Sabbagh Realty (KSR) is pleased to present 3289 Westchester Avenue, a turnkey, 100%-leased, Popeyes-anchored retail strip on a prime hard corner in the Pelham Bay section of the Bronx directly across from the 6 Train at the Pelham Bay Park station and just off I-95. Newly constructed and comprising approximately 4,535 SF across three commercial units, the property offers investors durable, brand-anchored income with minimal landlord responsibility. It is structured as a predominantly triple-net (NNN) asset — the Popeyes anchor and the convenience store are on full NNN leases, while the third tenant operates on a near-net (NN) structure that still reimburses insurance, water/sewer, and electric. With all three tenants secured on long-term leases through 2033–2036, contractual annual rent increases, and embedded upside from a pending ICAP tax abatement, 3289 Westchester delivers a rare combination of stability and growth in one of the Northeast Bronx’s most established, transit-rich retail corridors.

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