447-449 Jackson Ave
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447-449 Jackson Ave
2,580 SF 100% Leased Retail Building Bronx, NY 10455 £2,270,867 (£880/SF) 3.79% Net Initial Yield
Investment Highlights
- Prime location at St Mary's Park and Playground in the Bronx
Executive Summary
Premiere Real Estate Group Inc. presents the exclusive opportunity to acquire a development site located at 447-449 Jackson Avenue in the Mott Haven neighborhood of the Bronx. The R7-1 zoned site is composed of two contiguous parcels with a residential FAR of 3.44 for a total of 25,351 buildable square-feet. The community facility FAR is 4.8 which could potentially increase the maximum buildable to 35,371 square-feet. 447 Jackson Avenue is currently occupied by a three-story 3,087 square-foot apartment building with two apartments, one commercial unit and parking lot. This is an excellent opportunity for a developer to collect a steady income until the new building plans are being approved.
The parcels feature 50 feet of frontage along Jackson Avenue. The site is situated directly adjacent to St. Mary’s Park and recreation center. In addition, the property is directly across from the Jeffrey M. Rapport School for Career Development. Mott Haven is a thriving area of the South Bronx and is home to numerous new developments, restaurants, bars and breweries. The area is easily accessible by the 6, 2 and 5 subway lines, as well as via the Bruckner Expressway. Residents in the area benefit from the immediate access of Randall’s Island Park and the Harlem River Drive.
The parcels feature 50 feet of frontage along Jackson Avenue. The site is situated directly adjacent to St. Mary’s Park and recreation center. In addition, the property is directly across from the Jeffrey M. Rapport School for Career Development. Mott Haven is a thriving area of the South Bronx and is home to numerous new developments, restaurants, bars and breweries. The area is easily accessible by the 6, 2 and 5 subway lines, as well as via the Bruckner Expressway. Residents in the area benefit from the immediate access of Randall’s Island Park and the Harlem River Drive.
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Property Facts
Sale Type
Investment
Sale Condition
Development Sale
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
2,580 SF
Building Class
C
Year Built
1920
Price
£2,270,867
Price Per SF
£880
Net Initial Yield
3.79%
NOI
£86,097
Percent Leased
100%
Tenancy
Multiple
Number of Floors
3
Building FAR
0.72
Land Acres
0.08 AC
Zoning
R7-1
Frontage
50 ft on Jackson Avenue
Walk Score ®
Very Walkable (86)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Very Bikeable (70)
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | 02557-0061 | Improvements Assessment | £6,516 |
Land Assessment | £845 | Total Assessment | £7,361 |
PROPERTY TAXES
Parcel Number
02557-0061
Land Assessment
£845
Improvements Assessment
£6,516
Total Assessment
£7,361
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447-449 Jackson Ave
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