Property Description
Potential 26,325 square foot buildable development site currently producing income.
Property is located next to Hugh J. Grant Circle shopping and transit hub on the south side of East 177th Street between Newbold Avenue and Hugh J. Grant Circle with access to the 6 Subway line. It is a 1-story retail building with 3 units. The tenants are:
Pay-O-Matic Check Cashing – monthly rent of $6,192 with 3% annual escalations, lease expires on 11/13/2027 with a 5 year renewal option
VIP Barber Shop & Spa LLC – monthly rent is $2,654 with 2% annual escalations, lease expires on 06/30/2030
Manny’s Unisex – monthly rent is $3,130.04 with 3% annual escalations, lease expires on 12/13/2029
Gross Annual Income: $147,342
NOI: $105,327 Annually
Block & Lot: 03794-0120
Zoning: R6 / C1-2
Lot Dimensions: 50 x 149.54 (Irregular)
Lot Size: 6,750 Sq. Ft.
FAR: 3.9
Buildable: 26,325 Sq. Ft.
Existing Footage: 3,250
Air Rights: 23,075
Building Dimensions: 50 x 120 Ft.
Building Size: 3,250 Sq. Ft.
Stories: 1
Units: 3
