The lot has a prime location with 100 feet on Warburton Ave and an additional 25 feet on Woodworth Ave, providing convenient access and potentially enhancing attractiveness.
The site is fully approved for a 36-unit apartment building, which streamlines the development process and reduces uncertainty for investors. Proforma of over $840,000 per year net income!
The planned building will be high efficiency, running on electric power, which aligns with modern sustainability trends. Tenants will be responsible for paying their utilities.
The property offers two levels of on-site parking, totaling 36 spaces. Sufficient parking is a crucial factor for urban development and can add substantial value.
Asking: $1,990,000
For more information contact:
Jeffrey Landsman
Associate Real Estate Broker
jlandsman@houlihanlawrence.com
917.859.0331
Yonkers4Sale.com
HOULIHAN LAWRENCE COMMERCIAL TEAM
Commercial real estate has entered a challenging period as low interest rate maturities start to come due. Interesting commercial real estate investment opportunities are likely to become available. Liquidity is only available for strong sponsors and poorly capitalized owners will seek to sell. However, there are numerous market and economic risks that will add to the complexities of acquiring commercial real estate. Understanding the market forces that are shaping the fundamentals for each property requires a deep knowledge of the property, local and regional insights, and close contacts with the right financial partners. Our Team is highly skilled in all these areas.
Reach out to HOULIHAN LAWRENCE COMMERCIAL for a complimentary assessment of your real estate, an evaluation of a purchase target, and to receive an in-depth perspective on the ever-changing Westchester commercial real estate market.
