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3 Stores Investment Income Producing Property Active Great ROI

Block &; Lot: 03794-0120
Zoning: R6 / C1-2
Lot Dimensions: 50 x 149.54
(Irregular)
Lot Size: 6,750 Sq. Ft.
FAR: 3.0
Buildable: 20,250 Sq. Ft.
Existing Footage: 3,250
Air Rights: 17,000
Building Dimensions: 50 x 120
Ft.
Building Size: 3,250 Sq. Ft.
Stories: 1
Units: 3
Taxes (22/23): $31,187

CONTACT: (9 1 7 ) 2 8 4 - 5 9 2 0

Located on the south side of East 177 th Street between Newbold Avenue and Hugh J. Grant Circle.

Access to the 6 line Subway. Built
in 1925, one story retail building with 3 tenants:
There is a $706k assumable mortgage on the property with an interest rate of 4%.

It has a 30-year term and is currently with Flushing Bank. The loan is set to expire in December of 2024. However, there is an option to
renew it for another 5 years at the prevailing rate, which is currently around 6.5% to 7%.

Pay-O-Matic: Monthly rent $6,192 / Annual Rent $74,305 – Leases expiration 11/13/2027 with a 5 year renewal option.

Manny’s Unisex: Monthly rent $3,039 / Annual rent $36,466 – Lease expires 12/13/2024 with a 5 year renewal option

1908 East 177 Street, Bronx, NY 10472

$2,500,000

Gross Annual Income: $142,619 + $2,124 Reimbursements / Gross Operating Expenses: ($38,564)
NOI: $106,179 Annually

Contact: 9 1 7 - 2 8 4 - 5 9 2 0