Assignments

Mixed-Use Development Site on Third Ave | 10,000 BSF

3218 Third Ave, Bronx, NY 10451

3218 Third Ave, Bronx, NY 10451

under contract

Asking
Sale Price
$
1450000
1450000

Property Details

Status
For Sale
Property Type
Residential Development Site
Price Summary
$
1450000
Sale Price
$
1450000
Buildable SF
12008
Building SF
12008
LOT SF
12008
Cap RATE
%
Zoning
R7-2, C4-4

Highlights

  • 25 ft of frontage on Third Avenue improved with 2,575 sq. ft. of retail across two stores (one occupied, one vacant)
  • Served by the Bx15, Bx21, Bx6, and Bx6-SBS bus lines, with the Prospect Avenue subway station (2, 5 trains) approximately 0.6 miles away
  • On one of the Bronx's most active retail and development corridors, with permits recently filed two blocks north for a seven-story mixed-use building
  • Future development upside: Zoned C4-4 (R7-2 equivalent)

Property DEscription

Landair Advisors has been exclusively retained to arrange the sale of 3218 Third Avenue, a two-unit ground floor retail property on the Third Avenue commercial corridor in Woodstock, Bronx.

The single-story building totals 2,575 sq. ft. and offers 25 ft. of frontage on Third Avenue. One unit (1,811 sq. ft.), is secured by a long-term lease expiring 2032, providing stable in-place income. The second unit (680 sq. ft.), will be delivered vacant, giving an owner-user the opportunity to occupy or an investor the flexibility to lease it to a tenant of their choosing at market rent.

The property benefits from heavy foot and vehicle traffic and a dense surrounding residential population, with a growing number of new building permits filed in the surrounding area.

The lot is zoned C4-4 (R7-2 equivalent) and offers meaningful future development upside.

3218 Third Avenue combines in-place income, a vacant unit ready for an owner user or new tenant, and long-term development potential on a high-traffic Bronx retail corridor.

Map

Maha Alaoui
Senior Associate
(516) 713-7161
malaoui@landairnyc.com

Documents

Offering Memorandum
Data Room

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