Landair Property Advisors has been hired to sell the retail property located at 638 E
169th St, Bronx, NY 10456, a 15,582 square foot two-story building situated on a 14,700
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 occupied with a mix of retail and office tenants, contributing to a stable and highperforming investment opportunity.
Financially, the property presents a strong profile with an average rent per square foot
of $48.13 and an average annual rent increase of 5%. The average lease term amongst
the tenants stands at 5 years, underscoring tenant stability and consistent cash flow.
The property is advantaged by its zoning, which supports a buildable square footage of
44,100 for residential purposes and 70,560 for community facility use, offering
significant future development potential.
Located nearby multiple bus and subway stations, the property 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 high-density area of the Bronx.