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COMMERCIAL GROUP
DA N I E L H I C K E YReal Estate SalespersonM. [email protected]
Houlihan Lawrence Commercial Group800 Westchester Avenue, Suite 402-SRye Brook, NY 10573O. 914 798 4900
• Two adjoining properties comprised of a Pub and Pizzeria in the center of City Island across from Hawkins Park with steady year round local business including 1BR and 2BR apartments upstairs
• “The Seaport of the Bronx,” City Island is surrounded by Pelham Bay Park, NYC’s largest public park
• The community draws visitors from Westchester and the Bronx to its famous restaurants
• Its approximately 5,000 residents work throughout NYC and Westchester
• Average household income $100k• New townhomes selling for $750k-$1 million
City IslandLocal Favorites
2 8 6 & 2 8 8 C I T Y I S L A N D AV E N U E B R O N X , N Y
O F F E R E D AT $ 1 , 5 0 0 , 0 0 0 C O M B I N E D
COMMERCIAL GROUP
DA N I E L H I C K E YReal Estate SalespersonM. [email protected]
Houlihan Lawrence Commercial Group800 Westchester Avenue, Suite 402-SRye Brook, NY 10573O. 914 798 4900
Income & Expenses2 8 6 & 2 8 8 C I T Y I S L A N D AV E N U E B R O N X , N Y
O F F E R E D AT $ 1 , 5 0 0 , 0 0 0 C O M B I N E D
286-288 City Island AvePro-Forma Income & Expenses
Income Monthly Rent RollApartment Income 31,200$ Pub 5,264$ Retail Income 89,655$ Pizzeria 2,208$ Gross Income 120,855$ 2BR Apt 1,300$
1BR Apt 1,300$ Monthly Total 10,071$
Expenses (LL Share)Insurance 6,846$ Electric & Gas 2,215$ Water & Sewer 1,705$ Repairs & Maintenance 8,007$ Taxes 6,766$ Total Operating Expenses 25,538$
Net Operating Income 95,317$
Cap Rate: 6.35%
COMMERCIAL GROUP
DA N I E L H I C K E YReal Estate SalespersonM. [email protected]
Houlihan Lawrence Commercial Group800 Westchester Avenue, Suite 402-SRye Brook, NY 10573O. 914 798 4900
PROPERTY ADDRESS
286 and 288 City Island Avenue, Bronx, NY 10464
PROPERTY DETAILS
286 City Island Avenue Pizzeria $2,208 monthly rent plus extras 1,100 sf building on 2,181 sf lot K1 building class, R3A, C1-2 zone 288 City Island Avenue Pub $5,264 monthly rent plus extras 1,440 sf bar, 2 dining rooms and kitchen 1,440 sf upstairs residential, 1BR and 2BR each renting for $1,300 monthly 2,179 sf lot S1 building class, R3A, C1-2 zone 3,980 total building sf 4,360 total lot sf
Property Details2 8 6 & 2 8 8 C I T Y I S L A N D AV E N U E B R O N X , N Y
O F F E R E D AT $ 1 , 5 0 0 , 0 0 0 C O M B I N E D
F o r 1 0 0 y e a r s t h e s e p r o p e r t i e s h a v e b e e n m a i n s t a y s o f t h e v i b r a n t C i t y I s l a n d c o m m u n i t y. L o c a t e d i n t h e c e n t e r o f t o w n , t h e p u b a n d p i z z e r i a e n j o y c o n s i s t e n t l o c a l c l i e n t e l e w h i l e p r o v i d i n g v i s i t o r s a t r u e t a s t e o f t h e i s l a n d .
COMMERCIAL GROUP
DA N I E L H I C K E YReal Estate SalespersonM. [email protected]
Houlihan Lawrence Commercial Group800 Westchester Avenue, Suite 402-SRye Brook, NY 10573O. 914 798 4900
Aerial View2 8 6 & 2 8 8 C I T Y I S L A N D AV E N U E B R O N X , N Y
O F F E R E D AT $ 1 , 5 0 0 , 0 0 0 C O M B I N E D
COMMERCIAL GROUP
DA N I E L H I C K E YReal Estate SalespersonM. [email protected]
Houlihan Lawrence Commercial Group800 Westchester Avenue, Suite 402-SRye Brook, NY 10573O. 914 798 4900
Regional Map2 8 6 & 2 8 8 C I T Y I S L A N D AV E N U E B R O N X , N Y
O F F E R E D AT $ 1 , 5 0 0 , 0 0 0 C O M B I N E D
The information contained in this Offering Memorandum is confidential, furnished solely for the purpose of review by a prospective purchaser of certain information relating to the property mentioned herein (the “Property,), and is not to be used for any other purpose or made available to any other person without the prior written consent of HLCG. The material is subject to errors and omissions and based on part upon information supplied by sources deemed reliable.
