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NEW YORK, NY – August 17, 2015 – Ariel Property Advisors has been exclusively retained to sell 2703 East Tremont Avenue, a Wendy’s triple net lease investment property with future development potential. Located in Westchester Square, a commercial corridor in the southeast Bronx, the property consists of a 16,825 square foot lot occupied by a 2,772 square foot restaurant and 21 parking spots. The property has an asking price of $7,750,000.
Exclusive agents Scot Hirschfield, Jason M. Gold, Victor Sozio, Michael A. Tortorici and Marko Agbaba are representing the owner, a private investor.
The restaurant has a lease in place until 2035 and has seen tremendous growth since being renovated as part of a nationwide corporate modernization initiative. The property offers 50,475 buildable-square-feet affording the option for future development. This particular site is also benefitting from the area’s emergence due to the influx of premier medical establishments.
“Located in a highly trafficked commercial corridor, 2703 East Tremont Avenue offers the rare opportunity to purchase a true triple net property with a blue chip tenant in place,” said Scot Hirschfield, Vice President at Ariel Property Advisors. “As infrastructure continues to expand in the area, we expect the business and the development opportunity to appreciate significantly.”
The 6 train located at Westchester Avenue offers easy access to inner and outer borough locations. Other commuting options are available via the six different major bus routes in the area, as well as via the Hutchinson River Parkway, located only 0.25 miles away. Additionally, 2703 East Tremont Avenue is in close proximity to the planned Metro North stations in Parkchester and Morris Park.
More information is available from the exclusive agents at 212-544-9500: Scot Hirschfield, ext. 16, shirschfield@arielpa.com; Jason M. Gold, ext. 22, jgold@arielpa.com; Victor Sozio, ext. 12, vsozio@arielpa.com; and Marko Agbaba, ext. 32, magbaba@arielpa.com.
Ariel Property Advisors is a commercial real estate services and advisory company located in New York City. The company covers all major commercial asset types throughout the NY metropolitan area, while maintaining a very sharp focus on multifamily, mixed-use and development properties. Ariel’s Research Division produces a variety of market reports that are referenced throughout the industry.
For press inquiries, please contact our Public Relations Department at 212.544.9500 ext. 19 or via mploc@arielpa.com
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee the accuracy of any information provided herein. As an example, all zoning information, buildable footage estimates and indicated uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example, and does not necessarily relate to actual vacancy, if any. The value of this prospective investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. The prospective buyer should carefully verify each item of income, and all other information contained herein.
