200-208 South 14th Avenue.
NEW YORK CITY – Cushman & Wakefield has been hired to market the sale of 200-208 South 14th Ave., a 26,788-square-foot industrial property with a parking lot in the Bronx.
The multi-story property on the border between the Bronx and Mount Vernon submarket is attractive to investors in search of industrial property in a dense area that is ideal for last-mile industrial opportunities, according to Jonathan Squires, executive director at Cushman & Wakefield, who is leading the marketing effort.
"As the industrial market in the greater New York area continues to heat up, these properties remain in high demand and will continue to grow in value," Josh Neustadter, on C&W's New York Middle Market Investment Sales team, said in a prepared statement.
The industrial property with seven commercial units is accessible to major highways and public transportation, such as the Wakefield Station on the Metro-North line in a one-mile radius, and the 241st Street Subway Station that is four blocks away.
Ceiling heights in the building extend upwards to thirteen-feet, which is currently 100 percent leased and with average weighted lease terms of 3.9 years, producing a diversified and steady income stream.
In its entirety, the land parcel includes .32 acres with a total 1.92-floor area ratio, zoned for auto body repair, general manufacturing and distribution. The property has undergone recent renovations, including a new roof, LED lighting, new windows, overhead doors and resurfaced warehouse floors.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
