788 E Tremont Ave, Bronx, NY 10460
Strategic Mini Mall Acquisition: Fully Occupied Retail Engine with Vacant 2nd & 3rd Floors
Marketing description
788 East Tremont Avenue is a 7,550-square-foot mixed-use building that offers a rare combination of stabilized retail income and significant immediate upside. Positioned on a prominent corridor, the property is being offered at $2,050,000, representing a strategic acquisition for investors seeking both cash flow and clear growth.
The asset is anchored by fully occupied ground-floor retail, contributing to a current gross income of $176,818. With operating expenses at $53,789, the property currently yields a Net Operating Income (NOI) of $123,029. This provides a strong 6% cap rate on current numbers alone.
The most compelling aspect of this offering is the current vacancy of the second and third floors. These floors represent a "blank canvas" for an owner to immediately increase the rent roll through professional or residential leasing. By stabilizing these upper levels, the pro-forma yield is expected to increase substantially, offering a superior return compared to fully stabilized assets in the current market.
This is a premier opportunity to acquire a substantial footprint on East Tremont Avenue with a secured income stream and a clear, low-risk path to increasing the asset's total value.
Investment highlights
Strategic Acquisition: Mixed-use asset priced at a competitive $271/SF.
Current Yield: Robust 6.0% Cap Rate on in-place stabilized retail income.
Immediate Value-Add: Second and third floors delivered vacant for rapid lease-up.
Secured Cash Flow: 100% occupied ground-floor retail provides a defensive income foundation.
Revenue Growth: Significant path to NOI expansion through upper-floor stabilization.
Prime Frontage: Exceptional visibility along the high-traffic East Tremont Ave corridor.
Financial Profile: Current Gross Income of $176,818 with manageable expenses.
Asset Scalability: 7,550 total SF offering flexible configurations for residential or professional use.
Operational Efficiency: Net Income of $123,029 prior to upper-floor activation.
Transit-Oriented: Located in a dense Bronx submarket with heavy foot traffic and public transit access.
Owner-User Potential: Ideal for a professional firm seeking a flagship location with rental income.
Investment Grade Metrics: Strong expense-to-income ratio at approximately 30%.
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