Invictus Property Advisors is pleased to present the closing of 1800 Williamsbridge Road, a 350’ x 100’ corner retail asset with a large parking component located in Morris Park, Bronx. The asset is fully occupied on absolute NNN leases by two (2) national-credit tenants. The site is located walking distance away from the Albert Einstein College of Medicine and Yeshiva University.
Current Income
Citibank (± 4,669SF) —corporate lease through June2027 with three additional renewal options; branch reports ± $480MM in local deposits. Dollar Tree (± 8,524SF) —sub-leases from Walgreens through April2030 after investing in a full interior renovation in2023; Walgreens will continue to comply with all lease terms until their term expires. Both tenants reimburse 100% of taxes, CAM and insurance, eliminating day-to-day management for ownership.
Future Upside
Redevelopment potential: The 35,000SF tax lot qualifies as a “Qualifying Residential Site” allowing up to ± 87,500 BSF (2.5FAR) for mixed-use construction.
End-user potential once Walgreens/Dollar Tree vacates in 2030—an end user can utilize the asset for their own use.
Transportation
Located a short distance from the Morris Park Subway Station, servicing the5train and is within the “Greater Transit Zone”.
