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Shopping Strip

Popeyes Anchored Retail in New York City

3289 Westchester Ave, The Bronx, NY 10461

Listing Price: $5,079,000

Cap Rate
6.00%
Gross SF
5,000
Rentable SF
4,817
Price/Gross SF
$1,015.80
Lot Size
0.11 acres
Year Built
1981

Investment Overview

Subject is a Newly Renovated ±4,817 Square-Foot Popeyes Anchored Three Tenant Retail Strip on a ±0.1-Acre Lot with 100 feet of Frontage | Across the Street from the Pelham Bay Park Station, the Northern Terminus of the #6 Line. Net Leases with 10-Year Base Terms and Minimal Landlord Responsibility | Inflation Hedge Annual Rental Increases.

Investment Highlights

  • Tenant Popeyes is the Country's Second Largest Fried Chicken Chain with More than 3,000 Stores Throughout the United States
  • Robust Traffic Counts on I-95 (129,932 VPD) and 100 ft. From the Northern Terminus of the #6 Train (1.1M Riders Annually) (Source: LandVision, CoStar, 2022)
  • Dense Urban Corridor | Heavily Trafficked Area Due to Ample Public Transportation, Eclectic Retail Offerings, and the Entry to Pelham Bay Park
  • Growing and Thriving Area with an Average Household Income of Over $81K within Two Miles of the Subject Asset, as of 2022
  • Parks and Outdoor Recreational Facilities Across the Street: Pelham Bay Park, Including Thomas Pell Wildlife Sanctuary, Split Rock Golf Course, Turtle Rock Golf Center, Orchard Beach, Aileen B. Ryan Recreational Complex, Evers Marina, and all the Ameneties of City Island
  • ICAP Tax Abatement in Place with Over $550,000 in Projected Savings Over 15 Years | Abatement Commenced in 2023
  • Subject is Ten Miles from LaGuardia Airport, Undergoing a Massive Renovation and Serving 29 Million Passengers Annually (www.laguardiaairport.com)

Exclusively Listed By

Shopping Strip

Popeyes Anchored Retail in New York City

Listing Price: $5,079,000

Cap Rate
6.00%
Gross SF
5,000
Rentable SF
4,817
Price/Gross SF
$1,015.80
Lot Size
0.11 acres
Year Built
1981

Investment Highlights

  • Tenant Popeyes is the Country's Second Largest Fried Chicken Chain with More than 3,000 Stores Throughout the United States
  • Robust Traffic Counts on I-95 (129,932 VPD) and 100 ft. From the Northern Terminus of the #6 Train (1.1M Riders Annually) (Source: LandVision, CoStar, 2022)
  • Dense Urban Corridor | Heavily Trafficked Area Due to Ample Public Transportation, Eclectic Retail Offerings, and the Entry to Pelham Bay Park
  • Growing and Thriving Area with an Average Household Income of Over $81K within Two Miles of the Subject Asset, as of 2022
  • Parks and Outdoor Recreational Facilities Across the Street: Pelham Bay Park, Including Thomas Pell Wildlife Sanctuary, Split Rock Golf Course, Turtle Rock Golf Center, Orchard Beach, Aileen B. Ryan Recreational Complex, Evers Marina, and all the Ameneties of City Island
  • ICAP Tax Abatement in Place with Over $550,000 in Projected Savings Over 15 Years | Abatement Commenced in 2023
  • Subject is Ten Miles from LaGuardia Airport, Undergoing a Massive Renovation and Serving 29 Million Passengers Annually (www.laguardiaairport.com)

Investment Overview

Subject is a Newly Renovated ±4,817 Square-Foot Popeyes Anchored Three Tenant Retail Strip on a ±0.1-Acre Lot with 100 feet of Frontage | Across the Street from the Pelham Bay Park Station, the Northern Terminus of the #6 Line. Net Leases with 10-Year Base Terms and Minimal Landlord Responsibility | Inflation Hedge Annual Rental Increases.

Exclusively Listed By

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