6-Unit Bronx Retail - 16% Cap Rate

The property is a 4,9000 SF triangular lot with 120 ft of frontage on Southern Blvd and 81 ft on Tinton Ave. It includes 6 retail tenants and 2 storage tenants. All tenants pay cash and are current on rent. The property has a single meter for gas and electric and no boiler. A Phase 2 environmental assessment conducted in 2006 found contamination; the report is not available. The landlord covers all expenses and factors those costs into the rent. Asking price: $950,000, representing a 16.23% cap rate and 4.77x rent roll.