Single Story Bronx Retail Building

Landair Property Advisors has been hired to sell the retail property located at 53 West Fordham Road, an 11,719 square foot single-story building situated on a 14,455 square foot lot. This property falls under R6, C1-4 zoning on a wide street, allowing for a diverse range of commercial and residential developments. Currently, the building is fully leased with six robust retail tenants, contributing to a stable and high-performing investment opportunity. Significant renovations completed in 2020 included updates to the facade, HVAC systems, and plumbing, with over $1,000,000 invested, ensuring minimal maintenance for the foreseeable future. These improvements have fortified the property’s infrastructure and aesthetic appeal. Financially, the property presents a strong profile with an average rent per square foot of $95.15 and an average annual rent increase of 2.92%. The average lease term amongst the tenants stands at 6.8 years, underscoring tenant stability and consistent cash flow. The property is advantaged by its zoning, which supports a buildable square footage of 43,365 for residential purposes and 69,384 for community facility use, offering significant future development potential. Located just two blocks from the West Fordham/Jerome Avenue subway stop, 53 West Fordham Road benefits from high pedestrian traffic and excellent accessibility, enhancing its value as a retail destination. This property represents an exceptional opportunity for investors seeking a low-maintenance, high-yield asset with potential for future growth and development in a prime urban location.