Listed by Matthews
$5,750,000
509 Willis Avenue
Details
Property Type Retail, Office
Sub Type Executive Office, Medical Office
Square Footage 17,000
NOI $339,926
Tenancy Multi
Price per SqFt $338
Class B
Lot Size (SqFt) 2,365
Zoning C4-4 (R7-2)
Investment Type Value Add
Tenant Credit No Credit Rating
Ground Lease No
Sale Condition N/A
Corner Mixed Use (Office Over Retail) | Fully Free Market | Possible Residential Conversion
Investment highlights
- Corner Mixed-Use Asset: 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: The office-over-retail configuration reduces risk through tenant diversification and offering a balance between retail exposure and office stability.
- Value-Add Potential: 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 & Conversion: 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 Bronx Entry Point: 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.
Listing Contacts
Listed by Matthews
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$339,926.00
$28,327.17/mo
Valuation Metrics
0
DSCR
5.91%
Cap Rate
5.91%
ROI
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