22-20 BOSTON RD ORNER MULTI-TENNT RETIL BUILDING 0 Of Frontage On Boston Rd. & 3 On Barnes ve. REDUED PRIE
22-20 BOSTON ROD - PROPERTY OVERVIEW Property Description: 22 & 20 Boston Road are two retail buildings located in the llerton neighborhood of the Bronx. The buildings combine for approximately 8,87 square feet, boasting 0 feet of frontage on Boston Road. urrently, the property has three tenants. Future ownership has the opportunity to maximize the use of this facility by converting the space to additional units as well as adding additional stories. There is an outdoor space in the rear that is utilized by the tenants as well. The properties are a short walk from the White Plains Road/llerton venue Subway Station, which is serviced by the @ train. The high foot and car traffic make the block attractive to strong long-term tenants. The properties have been owned for over years and offer investors an opportunity to capitalize on well-maintained buildings in a strong retail corridor. Highlights: Two attached buildings located on a corner of the major retail corridor of Boston Road 0 of frontage on Boston Road & 3 on Barnes venue Ownership in excess of years Property Features: ddress: Location 22 BOSTON ROD 20 BOSTON ROD OMBINED Located on the northeast corner of Boston Road & Barnes venue Block & Lot: 39-8 39-20 Lot Dimensions: 0.2' x.' 09.79' x 23' Lot Size: 3,23 SF (approx.) 8,08 SF (approx.),37 SF (approx.) Building Dimensions: 0.2' x.' 09.79' x 23' irregular Building SF: 3, SF (approx.),38 SF (approx.) 8,87 SF (approx.) Number of Tenants: 2 3 Zoning: 8-8- 8- ommercial FR:.00.00.00 ssessment (8/9): $,70 $3,03 $87,79 Taxes (8/9): $,90 $,82 $,792 IIP (Exp. 2029): ($2,98) ($33,9) ($,9) djusted Taxes: $3,2 $,88 $,333 Financial Summary: REDUED PRIE: $3,00,000 Potential conversion to divide units Short walk to the White Plains Road/llerton venue Subway Station @ train llows for 27,29 BSF (w/ community facility) GROSS NNUL REVENUE: $270,08 VNY LOSS & EXPENSES: ($30,27) NET OPERTING INOME: $239,7 P RTE:.8% PRIE PER SF: $39 USHMN & WKEFIELD
22-20 BOSTON ROD - REVENUE ommercial Income: DDRESS TENNT LESE STRT LESE END NNUL IN. SF RPSF MONTHLY RENT 22 Boston Road Better Days Mar-3 Mar-2 3% 3, $27.9 $8, 20 Boston Road Ideal are U orp. Dec-3 Nov-2 3%,79 $3.0 $,8 20 Boston Road Family Drug Store orp. Jan-07 MTM - 879 $38.33 $2,808 Gross Monthly ommercial Rent: $22,07 Gross nnual ommercial Rent: $270,08 verage Rent Per Square Foot: $30. * Tenants have an annual 3% increase nnual Reimbursements: DDRESS TENNT TX BSE YER TX REIMB. % TX REIMB. INSURNE REIMB. % INSURNE REIMB. TOTL REIMB. 22 Boston Road Better Days 3/ 0% - 39.% $3,7 $3,7 20 Boston Road Ideal are U orp. 3/ 83% $3,0 0.% $,8 $8,72 20 Boston Road Family Drug Store orp. N 7% $2,0 0.% $,008 $3,02 Gross nnual Reimbursements: $,772 USHMN & WKEFIELD 2
) L E X N I T G ON T H I RD V 3 ST 3 S T S ST 22-20 BOSTON ROD - INOME & EXPENSES OMMERIL REVENUE Gross nnual Residential Revenue $270,08 Vacancy llowance @ % of Gross nnual Revenue ($3,0) Effective Gross nnual ommercial Revenue $2,80 EXPENSES (ESTIMTED) Riverdale GEO. WSHINGTON PLISDE V Dyckman St 90 St 8 St 23 ST Spuyten Duyvil W PROJETED Taxes 208/209 ctual $,333 Tax Reimbursment 208/209 ctual ($,20) Water/Sewer Tenant Pays - Insurance 208/209 ctual $9,2 Insurance Reimbursment 208/209 ctual ($9,22) Fuel Tenant Pays - Electric Tenant Pays - Repairs & Maintenance @ $00 / Month $,000 Reserves & Replacements @ $00 / Month $,200 Total Expenses: $,923 Effective Gross nnual Revenue: $2,80 Less Expenses: % ($,923) Net Operating Income: $239,7 FORT TRYON PRK 7 St WSHINGTON HEIGHTS RIVERSIDE PRK RIVERBNK STTE PRK HENRY HUDSON Inwood 207 St FORT WSHINGTON V RIVERSIDE DR INDEPENDENE V 37 St ity ollege 2 St St olumbia University M0 SBS LG irport athedral Pkwy (0 St ) Van ortlandt Park 22 St VN Woodlawn ORTLNDT RIVERDLE PRK Williams Bridge Mosholu Pkwy Norwood 238 St 20 St KINGS D 23 St Bedford Pk Blvd Bedford Pk Blvd Lehman ollege B D Marble Marble Hill Hill 22 St INWOOD HILL PRK RIVERSIDE DR FT WSH V ST NIHOLS V 03 St 2 3 9 St 8 St 8 St 7 St WEST END B D o-north Dyckman St southbound only 3 St msterdam v St St 3 St 2 St B D M0 SBS LG irport St 03 St UPPER USHMN & WKEFIELD WEST 3 SIDE 8 St Museum MSTERDM V HENRY HUDSON PKWY MSTERDM V 0 min 2 St 207 St 2 ST OLUMBU Transportation Map: ST NIHOLS V ENTRL P IRWIN V HIGH PRK FREDERIK DOUGLSS BLVD to Grand entral via B D UNIVERSITY HTS BR ST 3 ST H a r l e m athedral Pkwy (0 St) R i v e r VN ORTLNDT University Heights HMILTON rush hours Harlem 8 St 3 DM LYTON POWELL BLVD (7V) Morris Heights WSHINGTON MLOLM X BLVD (LENOX V 22 ST 3 3 St Kingsbridge Rd 2 St M0 SBS LG irport St PRK SO Fordham Rd 83 St Burnside v FORDHM RD Yankees- E3 St 7 St 7 St St Yankee Stadium entral Park North (0 St) MOSHOLU B D PKWY JEROME V rush hour peak direction express GRND ONOURSE 38 St Grand oncourse skips rush hour peak direction ST Harlem 2 St FIFTH V MDISON V 2 St St 0 St 03 St 3 v 38 St Kingsbridge Rd Fordham Rd Fordham FORDHM 82 83 Sts Tremont v Tremont TREMONT 7 7 Sts 70 St 7 St 9 St Grand oncourse 2 BIN 80 ST WEBSTER V 3 v 9 St llerton v Botanical Garden Jackson v THE HUB SEOND V Melrose FIRST V 9 ST 8 ST UPPER EST SIDE Wakefield Woodlawn THIRD V West Farms Sq E Tremont v Pelham Pkwy 7 St Freeman St MORRISNI Burke v Simpson St Brook v Wakefield 2 St 2 Nereid v 233 St 22 St 29 St Intervale v Prospect v R OBERT F KENNEDY BRONX ZOO TREMONT V Gun Hill Rd BYHESTER V min to Penn Station via 22-20 BOSTON RD HRLEM MNHTTN Mt Eden v rush 70 St hours HIGH- METROPOLITN MUSEUM EST HRLEM 222 ST WHITE PLINS RD Bronx Park East rush hour peak direction express MOTT HVEN weekday peak direction express RNDLLS ISLND ypress v E 80 St E 3 St St Mary s St 233 ST BURKE V ESPLNDE ELDER V E 9 St storia Ditmars Blvd N Q storia Blvd M0 SBS N Q LG irport Gun Hill Rd Pelham Pkwy Morris Park 30 v N Q ESTHESTER Eastchester Dyre v Baychester v WHITE PLINS RD ST LWRENE V Hunts Point v Longwood v 30 V VERNON BL v e r LLERTON V mtra Parkches St Lawrence Morrison v Soundview Elder v Whitlock v SOUNDVIEW 2 ST BYHESTER HUNTS POINT Steinway O-OP ITY Pelh Midd E TREMONT V PRKHESTER SOUNDVIEW V STORI WH DITMRS BL TEINWY ROSS RIKERS ISLND M
For more information contact: Jonathan Squires Director (22) 0 777 jonathan.squires@cushwake.com Eric Roth ssociate Director (22) 0 777 eric.roth@cushwake.com Michael Fioravanti ssociate Director (22) 89 9 michael.fioravanti@cushwake.com Josh Neustadter ssociate (22) 0 7739 josh.neustadter@cushwake.com ddison Berniker ssociate (22) 8 099 addison.berniker@cushwake.com ushman & Wakefield opyright 208. 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). s applicable, we make no representation as to the condition of the property (or properties) in question. USHMN & WKEFIELD 290 venue Of The mericas, 8th Floor, New York, NY 00 phone: + 22 9 200 nyinvestmentsales.com