Description

Landair Property Advisors has been retained to market the single-story commercial property at 2598 Third Avenue in the Bronx, NY. Positioned on a corner lot with R6, C2-4 zoning along a wide street, the site offers flexibility for both commercial and residential development. Extensive renovations completed in 2015—including roof, electrical, HVAC, and plumbing—have strengthened the building’s infrastructure and appeal. The property features four fully built-out medical office suites and a basement with ~12-foot ceilings that can be leased separately. Delivered vacant, the asset provides investors with strong leasing potential, with projections indicating approximately $380,000 in annual gross income. Beyond its current configuration, the zoning and location also allow for immediate redevelopment, with the potential to construct a 21,576 SF residential building (or 34,521 SF with a community facility). Just 0.1 miles from the 138th Street–3rd Avenue 6 Train station, the property benefits from high foot traffic and excellent transit access, making it an outstanding opportunity for investors seeking a low-maintenance, income-producing asset with significant upside for future growth and redevelopment.