Bronx, NY- March 13, 2018
ONE Commercial Realty Services has been retained on an exclusive basis for the sale of 2026 LaFontaine Avenue in Bronx, NY. The building comprises of approximately 5,010 SF. As of right there are 17,234 BSF. The property is within proximity to PS118. However, with rental prices reaching record levels throughout Manhattan, the property presents an ideal opportunity for a potential developer to capitalize on the demand for quality housing from individuals and family that have been priced out of other submarkets. Current rent roll generates a gross income of $69,600 on two occupied retail spaces, and one retail space vacant with a projected gross income of $40,800. All combined income will be $110,400 annually and a competitive cap rate of 5.1%. Property is zoned R7-1. Maximum residential FAR: 3.44, Maximum facility FAR: 4.88. Owner will deliver the property vacant.
For more information regarding this listing contact Emmanuel Ukah at 212-596-7583.
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