576 Morris Park Avenue
576 Morris Park Avenue Bronx, New York 10460 Mixed Use Building for Sale Asking Price: $1,700,000 Concourse Realty Partners has been retained on an exclusive basis to arrange for the sale of 576 Morris Park Avenue, a fully renovated, 3-story walk-up located on the east side of Morris Park Avenue between Taylor Avenue and Garfield Street in the Van Nest neighborhood of the Bronx. The building contains 1 retail unit and 4 residential apartments above, all of which are vacant except for 1 apartment making this a rare investment opportunity in one of the Bronx’s most centrally located neighborhoods.
Block-Lot Lot Size Building Size Stories Commercial Units Residential Units Year Built Gross SF Zoning FAR Lot Area Buildable SF Air Rights Assessment (17/18) Tax Rate (Class II) Property Taxes (17/18)
4021-2 20' x 95' 20’ x 52’ 3 1 4 1926 3,100 R5 1.25 1,900 2,375 Overbuilt $59,077 12.8920% $7,616
Asking Price Cap Rate GRM Price Per SF
$1,700,000 5.22% 15.23 $548
For more information, please contact exclusive agents: David Kalish (212) 207-2400 Ext. 402 [email protected]
David Simone (212) 207-2400 Ext. 403 [email protected]
Concourse Realty Partners 2 Park Avenue, 20th Floor | New York, NY 10016 | (212) 207-2400 www.concourserealtypartners.com No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, Concourse Realty Partners LLC makes no representation as to the condition of the property (or properties) in question.
576 Morris Park Avenue Bronx, New York 10460 Mixed Use Building for Sale Asking Price: $1,700,000 Rent Roll Unit Lease Bed/Bath Unit Rent Per Number Expiration Count Size (Net) Sq. Ft. Store Vacant 890 $47 1F Vacant 1BR/1BTH 450 $39 1R 06/30/18 1BR/1BTH 515 $34 2F Vacant 1BR/1BTH 450 $39 2R Vacant 1BR/1BTH 515 $34 Total 2,820 $39.57 Footnotes: 1) Retail store has exclusive access to full cellar and back yard. 2) Rents projected for vacant units. Expenses Property Taxes Insurance Water & Sewer Heat & Hot Water Electrical Repairs & Maintenance Management Total Expenses
Metrics Actual Estimated Estimated Tenant Pays Estimated Estimated Estimated
Gross Income Less Expenses Net Operating Income
$2.46 $1.00 $1.29 $0.52 $0.65 4% of EGI
Monthly Rent $3,500 $1,450 $1,450 $1,450 $1,450 $9,300
Annual Rent $42,000 $17,400 $17,400 $17,400 $17,400 $111,600
Amount $7,616 $3,100 $4,000 $1,600 $2,000 $4,464 $22,780 $111,600 $22,780 $88,820
For more information, please contact exclusive agents: David Kalish (212) 207-2400 Ext. 402 [email protected]
David Simone (212) 207-2400 Ext. 403 [email protected]
Concourse Realty Partners 2 Park Avenue, 20th Floor | New York, NY 10016 | (212) 207-2400 www.concourserealtypartners.com No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, Concourse Realty Partners LLC makes no representation as to the condition of the property (or properties) in question.
Block-Lot Lot Size Building Size Stories Commercial Units Residential Units Year Built Gross SF Zoning FAR Lot Area Buildable SF Air Rights Assessment (17/18) Tax Rate (Class II) Property Taxes (17/18)
4021-2 20' x 95' 20’ x 52’ 3 1 4 1926 3,100 R5 1.25 1,900 2,375 Overbuilt $59,077 12.8920% $7,616
Asking Price Cap Rate GRM Price Per SF
$1,700,000 5.22% 15.23 $548
For more information, please contact exclusive agents: David Kalish (212) 207-2400 Ext. 402 [email protected]
David Simone (212) 207-2400 Ext. 403 [email protected]
Concourse Realty Partners 2 Park Avenue, 20th Floor | New York, NY 10016 | (212) 207-2400 www.concourserealtypartners.com No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, Concourse Realty Partners LLC makes no representation as to the condition of the property (or properties) in question.
576 Morris Park Avenue Bronx, New York 10460 Mixed Use Building for Sale Asking Price: $1,700,000 Rent Roll Unit Lease Bed/Bath Unit Rent Per Number Expiration Count Size (Net) Sq. Ft. Store Vacant 890 $47 1F Vacant 1BR/1BTH 450 $39 1R 06/30/18 1BR/1BTH 515 $34 2F Vacant 1BR/1BTH 450 $39 2R Vacant 1BR/1BTH 515 $34 Total 2,820 $39.57 Footnotes: 1) Retail store has exclusive access to full cellar and back yard. 2) Rents projected for vacant units. Expenses Property Taxes Insurance Water & Sewer Heat & Hot Water Electrical Repairs & Maintenance Management Total Expenses
Metrics Actual Estimated Estimated Tenant Pays Estimated Estimated Estimated
Gross Income Less Expenses Net Operating Income
$2.46 $1.00 $1.29 $0.52 $0.65 4% of EGI
Monthly Rent $3,500 $1,450 $1,450 $1,450 $1,450 $9,300
Annual Rent $42,000 $17,400 $17,400 $17,400 $17,400 $111,600
Amount $7,616 $3,100 $4,000 $1,600 $2,000 $4,464 $22,780 $111,600 $22,780 $88,820
For more information, please contact exclusive agents: David Kalish (212) 207-2400 Ext. 402 [email protected]
David Simone (212) 207-2400 Ext. 403 [email protected]
Concourse Realty Partners 2 Park Avenue, 20th Floor | New York, NY 10016 | (212) 207-2400 www.concourserealtypartners.com No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, Concourse Realty Partners LLC makes no representation as to the condition of the property (or properties) in question.
