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$3,800,000
Est. payment /mo
7,993 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Subdivision Norwood
MLS Listing ID 1037960
Rental Info No
Year Built 1920
Annual Tax Amount $23,920
Lot Size 7,993 Sqft
Acres 0.1835
Property Sub-Type Other
Source onekey2
Property Description
Well-located as-of-right development opportunity on the Webster Avenue corridor in the Bronx. The site consists of 7,621 square feet of land (0.18 acres) zoned R7D, allowing approximately 24,997 buildable square feet as-of-right, with additional density potentially available through Inclusionary Housing. The existing two-story building, constructed in 1920 and totaling 10,500 square feet, currently generates a strong income stream with an effective gross income of $98,070, operating expenses of $28,455, and a net operating income of $69,615, supporting a 14% cap rate. Annual taxes are $23,920.
This is a strong location near Montefiore Medical Center and Fordham University, with excellent transit access to the B/D subway lines, Metro-North, and the Bx41 Select Bus Service. The surrounding corridor has seen steady new construction and consistent rental demand, making this an attractive opportunity for both income and future development.
This is a strong location near Montefiore Medical Center and Fordham University, with excellent transit access to the B/D subway lines, Metro-North, and the Bx41 Select Bus Service. The surrounding corridor has seen steady new construction and consistent rental demand, making this an attractive opportunity for both income and future development.
Location
State NY
County Bronx County
Rooms
Basement None
Interior
Heating Other
Cooling None
Fireplace No
Exterior
Utilities Available None
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Schools
High Schools Bronx 9
School District Bronx 9
Others
Special Listing Condition None
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Listed by eXp Realty • Manuel Galan
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