Contacts

Chris Varjan

Lee & Associates - New York

(212) 776-1272

Property Details

Property Type Retail - Street Retail
Property Size 3,750 SF
Lot Size 0.05 Acre
Property Tenancy Multi-Tenant
Date Updated Apr 20, 2024

North side of East 149th Street between Morris Avenue and Courtlandt AvenueLee & Associates NYC is pleased to present exclusively for sale the mixed-use building located at 291 East 149th Street, Bronx, NY 10451 (the “Property”). Situated on a double-wide street in the heart of the Mott Haven section of the Bronx, the Property benefits from being on a main retail corridor with a multitude of surround educational and medical demand generators. The Property contains approximately 2,000 square feet of retail space on the ground floor, with two (2) floor-through residential units above. The retail space is fully leased to City Derm, a division of Advanced Dermatology with seven (7) years of term remaining on a ten (10) year lease. The retail tenant is responsible for 100% of real estate taxes in addition to a base rent that escalates 3% annually. The residential space on the second and third floors is currently unfinished and vacant. The Property represents the opportunity to acquire a well-located asset featuring strong and consistent cashflow derived from the retail space, while allowing an investor to maximize potential income and value through renovations to the residential units.

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Highlights

7-year term with credit tenancy
Located one block from the 3rd Avenue – 149th street Subway station and two blocks from the 149th Street – Grand Concourse subway station
Proximity to Lincoln Medical Center, The Hub, and a multitude of charter schools
Strong in-place retail cashflow with the opportunity to enhance value through monetizing upper floors
High traffic, premier corridor in the Bronx

Getting around

96/100
Walk Score ®
100/100
Transit Score ®
70/100
Bike Score ®

Powered by Walk Score ®

Location

City Bronx, NY
Neighborhood Melrose
Zip Code 10451
Market Bronx

Points of Interest

3rd Avenue–149th Street

0.23 miles
149th Street–Grand Concourse

0.29 miles
138th Street–Grand Concourse

0.52 miles
3rd Avenue–138th Street

0.53 miles
Melrose

0.67 miles
Brook Avenue

0.69 miles
Yankees–East 153rd Street

0.73 miles
Jackson Avenue

0.73 miles
161st Street–Yankee Stadium

0.75 miles
Lenox Avenue & 145th Street at Northeast Corner

0.78 miles

Mobil

0.34 miles
BP

0.36 miles
BP

0.53 miles
Speedway

0.87 miles
Mobil

0.90 miles
Citgo

0.98 miles
BP

0.98 miles
BP

1.17 miles
BP

1.47 miles
Mobil

1.55 miles

153rd Street South Lot

0.49 miles
153rd Street North Lot

0.51 miles
Concourse Plaza Garage

0.56 miles
153rd Street Lot

0.60 miles
153rd Street Garage

0.66 miles
Harlem River South Lot

0.75 miles
Commuter Parking

0.78 miles
Harlem River Lot

0.78 miles
Rupert Plaza Garage

0.84 miles
River Avenue Garage

0.85 miles

Popeyes

0.19 miles
Burger King

0.32 miles
Popeyes

0.32 miles
Giovanni's G-Bar

0.32 miles
Dunkin'

0.32 miles
Texas Chicken & Burgers

0.32 miles
McDonald's

0.33 miles
Boston Market

0.33 miles
Dunkin'

0.34 miles
Landín Macaroni & Cheese

0.35 miles

Fine Fare

0.37 miles
Western Beef

0.40 miles
Key Food

0.42 miles
ALDI

0.48 miles
Bronx Terminal Market

0.53 miles
Food Bazaar

0.56 miles
Bronx Terminal Market

0.63 miles
C-Town

0.91 miles
Fine Fare Supermarket

0.93 miles
Real

1.00 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.

Map of Property

291 East 149th Street