Corner Mixed-Use Asset in a High-Traffic Corridor: Located along Willis Avenue, a major commercial thoroughfare in the South Bronx, the property benefits from strong foot traffic, dense population, and excellent visibility for ground-floor retail.
Stable Income with Diversified Revenue Stream: The office-over-retail configuration reduces risk through tenant diversification and offering a balance between retail exposure and office stability.
Value-Add Potential Through Lease-Up and Repositioning: Opportunity to increase rents and overall NOI through leasing vacant space, renewing below-market tenants, and upgrading office interiors to achieve higher rents.
Favorable Zoning, Residential Conversion Opportunity: C4-4 zoning has an R7-2 residential equivalent, presenting opportunity for future redevelopment or conversion to residential use.
Long-Term Upside: Positioned in an area experiencing ongoing investment and redevelopment, offering long-term appreciation and potential for repositioning.
Transit Oriented Location: The 2 & 5 trains are just one block away, with access to Midtown Manhattan and Grand Central Terminal within 25 minutes.
Attractive Entry Point into Bronx Market: Compared to Manhattan and other boroughs, the Bronx offers a lower basis with strong upside, making this an appealing opportunity for investors seeking yield and growth.