Contacts

Ben Tapper

Lee & Associates - New York

(646) 658-7334

Property Details

Property Type Retail - Freestanding
Property Size 29,819 SF
Units 1
Lot Size 0.93 Acre
Parking Spaces Avail. 32
Parking Ratio 1.07 / 1,000 SF
Property Tenancy Single Tenant
Year Built 1970
Date Updated Feb 27, 2024

Lee & Associates NYC is pleased to present exclusively for sale the single tenant triple-net leased asset located at 2244 Westchester Avenue, Bronx, NY 10462 (“the Property”). Situated on a lot of approximately 40,470 square feet, the two-story retail and office asset spans approximately 30,000 square feet and features ample dedicated parking (approx. 0.275 acres) with over 300 feet of frontage on Westchester Avenue, a prominent retail corridor in the Bronx. The Property is entirely leased to Ponce Bank (PDL Community Bancorp) with a lease expiration date of November 30, 2038, with annual 1.75% rent increases. The long term triple-net lease provides investors consistent and predictable cashflow with annual growth and provides an ideal headquarter location and credit tenancy.

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Highlights

U.S. Corporate HQ with retail branch since 1995
Over $1.25 Billion in bank-wide deposits
Large lot size with over 300' of frontage on Westchester Avenue
Annual 1.75% rent increases
Ample parking (approx. 12,000 sq. ft.) to accommodate both retail traffic and office tenancy
Long-term, predictable cashflow with a remaining lease term of over 14 years
Prominent location at the intersection of Westchester Avenue and Castle Hill Avenue, steps from the Castle Hill Avenue subway station

Attachments

2244 Westchester Avenue - Summary & CA (original).pdf (PDF) opens in new window

Getting around

97/100
Walk Score ®
93/100
Transit Score ®
59/100
Bike Score ®

Powered by Walk Score ®

City Bronx, NY
Neighborhood Unionport
Zip Code 10462
Market Bronx

Points of Interest

Castle Hill Avenue

0.04 miles
Castle Hill Avenue NE Corner

0.05 miles
Castle Hill Avenue SW Corner

0.06 miles
Zerega Avenue

0.29 miles
Parkchester

0.54 miles
Westchester Square–East Tremont Avenue

0.59 miles
Saint Lawrence Avenue

0.88 miles
Middletown Road

1.02 miles
Morrison Avenue–Soundview

1.29 miles
East 180th Street

1.31 miles

Gulf

0.11 miles
Sunoco

0.21 miles
Citgo

0.63 miles
Gulf

0.66 miles
BP

1.04 miles
Gulf

1.15 miles
Mobil

1.18 miles
Shell

1.52 miles
Gulf

1.95 miles
BP

1.99 miles

Asia Parking

1.61 miles
Bronx River Parking

1.75 miles
Southern Boulevard Parking

1.97 miles
Department of Sanitation District 6 Garage

2.10 miles
Little Man Parking

2.23 miles
Fordham Regional Parking Facility

2.38 miles
P & P Car Parking

2.40 miles
Parking Area A

2.44 miles
Kelly Street Parking

2.52 miles
Concourse Plaza Garage

3.70 miles

Texas Chicken & Burgers

0.07 miles
Havana Cafe

0.08 miles
Wendy's

0.12 miles
Taqueria Tlaxcalli

0.27 miles
Cross Bronx Pizza

0.27 miles
George's Diner

0.28 miles
Jerry's Pizza

0.28 miles
Dunkin'

0.30 miles
El Sazon de Olga

0.40 miles
Pancho's

0.40 miles

A world of Spice

0.08 miles
C Town

0.54 miles
Bonavita Market

0.63 miles
Dollar Tree

0.67 miles
Bravo

0.76 miles
Deli

0.84 miles
Target

0.96 miles
Stop & Shop

0.97 miles
Throggs Neck Shopping Center

0.99 miles
Big Deal Food Market

1.02 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

2244 Westchester Avenue