Bronx Development Site For Sale By Owner

Highlights:

• 23,075 square feet of air rights

Description:

Block & Lot: 03794-0120 , Zoning: R6 / C1-2
Lot Dimensions: 50 x 149.54 (Irregular), Lot Size: 6,750 Sq. Ft.
FAR: 3.9, Buildable: 26,325 Sq. Ft., Existing Footage: 3,250
Air Rights: 23,075
Building Dimensions: 50 x 120 Ft., Building Size: 3,250 Sq. Ft.
Stories: 1, Units: 3
Taxes (23/24): $32,173.20

Located on the south side of East 177th Street between Newbold Avenue and Hugh J. Grant Circle.
Access to the 6 line Subway. Built in 1925, one story retail building with 3 tenants:
Pay-O-Matic: Monthly rent $6,377.88 / Annual Rent $76,534.56 – Leases expiration 11/13/2027 with a 5 year renewal option
VIP Barber Shop & Spa LLC: Monthly rent $2,654 / Annual Rent $31,848 – Lease expires 06/30/2030
Manny’s Unisex: Monthly rent $3,130.04 / Annual rent $37,560.48 – Lease expires 12/13/2029
Gross Annual Rental Income: $145,943.04 + Tax Reimbursement $576 + Water/Sewer Reimbursement $1,356
Total Gross Income: $147,875.04
Operating Expenses $42,099.20: Taxes $32,173.20 + Water/Sewer $1,915+ Insurance $8,011
NOI: $105,775.84 Annually

Documents: