Ariel Property Advisors retained to sell triple net lease property in the southeast Bronx

Ariel Property Advisors has been exclusively retained to sell 2703 East Tremont Ave., a Wendy’s triple net lease investment property with future development potential. Located in Westchester Sq., the property consists of a 16,825 s/f lot occupied by a 2,772 s/f restaurant and 21 parking spots. The property has an asking price of $7.75 million. Exclusive agents Scot Hirschfield, Jason Gold, Victor Sozio, Michael Tortorici and Marko Agbaba are representing the owner, a private investor. The restaurant has a lease in place until 2035 and has seen tremendous growth since being renovated as part of a nationwide corporate modernization initiative. The property offers 50,475 buildable s/f affording the option for future development. This particular site is also benefitting from the area’s emergence due to the influx of premier medical establishments. “Located in a highly trafficked commercial corridor, 2703 East Tremont Avenue offers the rare opportunity to purchase a true triple net property with a blue chip tenant in place,” said Hirschfield. “As infrastructure continues to expand in the area, we expect the business and the development opportunity to appreciate significantly.” The 6 train located at Westchester Ave. offers easy access to inner and outer borough locations. Other commuting options are available via the six different major bus routes in the area, as well as via the Hutchinson River Parkway, located only 0.25 miles away. Additionally, 2703 East Tremont Ave. is in close proximity to the planned Metro North stations in Parkchester and Morris Park.