Investment Overview

The subject offering is a 14,646 square foot three-story retail property located on the corner of E Tremont Avenue and Arthur Avenue in the Bronx’s Tremont neighborhood. The property consists of three tenants, and it is 100% occupied. The offering has 185 feet of wrap around frontage on E Tremont Avenue, the most heavily traveled retail corridor in Tremont. The property is surrounded by retail tenants in every direction, including national retailers McDonald’s, Blink, Popular Bank, Popeye’s and Chase Bank. The ground floor retail units are leased to national tenant Pizza Hut, and local retailer Tejada Hardware. The entire second floor, and the entire legal lower level, are leased to La Flor Terrace Event Space, a state-of-the-art event space that can accommodate up to 200 guests per floor. The property is a former bank location, and it underwent a complete gut renovation in 2021. The property has an elevator, which goes from the lower level to the second floor. There are three meters for all unities, and each tenant is responsible for paying their utilities directly. The event space pays the cost to maintain the elevator. This is an opportunity to acquire a fully occupied corner asset with outstanding visibility and frontage on a historically solid Bronx retail street. The property went through a full gut rehab, and ownership put a new roof on the property in 2023.