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Blink Fitness

Bronx, New York

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Marcus & Millichap is pleased to present the exclusive listing for a Multi-Tenant asset located at 932 Southern Boulevard in Bronx, New York. The site consists of roughly 28,390 rentable square feet of building space on an estimated 0.17 acre parcel of land. The tenants include Blink Fitness on the second and third floor, Emblem Health on the ground floor and lower level, and Advanced Care Staffing in the cellar space.
The leases have varied terms remaining; Blink Fitness has nearly 11 years of term remaining, Emblem Health with over 7 years of term remaining, and Advanced Care Staffing with over 3 years of term remaining.

About the Investment
Multi-Tenant Asset Located on a Highly Trafficked Roadway
Modern Design with Complete Renovation in 2017
Attractive Rental Increases Throughout All Lease Terms
Unique Opportunity to Own a Strong Asset in a Growing Bronx Market
About the Location
Dense Retail Corridor | Walgreens, Aldi, Rite Aid, Marshalls, Dollar General, Dollar Tree, Planet Fitness, TD Bank, Five Below, Burlington, McDonald’s, Popeye’s, and Dunkin’, and Many More
Yankee Stadium | Two Miles Away | Home to New York’s Most Popular Sports Team | 40,000 Attendants Per Game
Highly Trafficked Area | Southern Boulevard and Interstate 278 Average 12,300 and 100,200 Vehicles Each Day
Affluent Community | Average Household Income Exceeds $83,000 within a Five-Mile Radius
Hunts Point Produce Market | One Mile South | The Center of New York’s Food Trade
Robust Population | 1,090,225 Individuals within a Three-Mile Radius | 2,551,114 Individuals within Five

Key Details

Price:
$16,250,000
Cap Rate:
5.24%
Annual Rent:
$852,055
Address:
932 Southern Boulevard, Bronx, New York 10459
Property Type:
Net-Leased Retail
Lease Type:
Modified

Original Lease Term:
15 Years
Lease Expiration:
5/31/2032
Lease Term Remaining:
10.92 Years
Rental Increases:
10% Every 5 Years
Building Size:
29,160 SF
Tenant:
Blink Fitness

Talk to the pros

Glen Kunofsky

License: 49KU1129178

Matthew Anuszkiewicz

License: 10401294046

Howard Curd

License: 10401339720

Broker of record

John Horowitz

License: 10311204479


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