3208 3RD AVENUE, Bronx, NY, 10451

3208 3RD AVENUE Bronx, NY 10451

3208 3RD AVENUE, Bronx, NY, 10451
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FOR SALE
Property Type:
Street Retail
Amount:
Please Call Broker for Price

Last Verified:
May 02, 2024

Highlights

  • New elevator installed servicing all 4 floors
  • Ground and Cellar level are leased to a retail tenant with a 90 day cancellation option
  • Fully gut renovated Second & Third floors, new HVAC systems, and bathrooms
  • Over 16 FT ceilings on all 4 floors

Description

Located in the New York City borough of the Bronx, Melrose is a residential area to the north of Mott Haven and west of Longwood, and is recognized as part of the South Bronx. It is a rectangular neighborhood, with Third Avenue forming the eastern border, 149th Street to the south, Park Avenue to the west, and 161st Street to the north. Melrose Avenue and Third Avenue are the primary thoroughfares running through the area. The Hub-Third Avenue Business Improvement District is a well-known local shopping district situated at the point where five major roads meet, such as East 149th Street, Westchester, Willis, Melrose, and Third Avenues. This retail area is second in size to Fordham Road. The property is located near a retail corridor, near mass transportation, schools and across the street of the new Boricua College in a high-density area. The property is steps away from the new Boricua Village over 700 rental units, Saint Ann’ s Apartments over 660 rental units, La Central: South Bronx’s newest rental community consisting of 992 rental units, and a 50,000 SF state-of-the-art YMCA

Located in the New York City borough of the Bronx, Melrose is a residential area to the north of Mott Haven and west of Longwood, and is recognized as part of the South Bronx. It is a rectangular neighborhood, with Third Avenue forming the eastern border, 149th Street to the south, Park Avenue to the west, and 161st Street to the north. Melrose Avenue and Third Avenue are the primary thoroughfares running through the area. The Hub-Third Avenue Business Improvement District is a well-known local shopping district situated at the point where five major roads meet, such as East 149th Street, Westchester, Willis, Melrose, and Third Avenues. This retail area is second in size to Fordham Road.

The property is located near a retail corridor, near mass transportation, schools, and across the street of the new Boricua College in a high-density area. The property is steps away from the new Boricua Village over 700 rental units, Saint Ann’s Apartments over 660 rental units, La Central: South Bronx’s newest rental community consisting of 992 rental units, and a 50,000 SF state-of-the-art YMCA

Building Size: 21620sq ft
Lot Size: 0 acres


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Map of 3208 3RD AVENUE, Bronx, NY, 10451

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.