Guarino of ERG Property Advisors reps buyer and seller in $1.8 million sale in the Bronx

ERG Property Advisors has sold 3131-3139 East Tremont Ave., located in the Throgs Neck section. The building is comprised of five retail stores located at the southeast corner of Coddington Ave. The property sold for $1.8 million, with financing in place for $1.36 million. The single-story building is 5,752 s/f and is situated on a 6,640 s/f lot. ERG's Michael Guarino, Sr. represented the seller and the purchaser. The property is fully rented to stable tenants. The current tenants include a barber shop, a pharmacy, a bar, a florist and a bakery. The gross annual income for the property is $163,200. Each tenant incurs annual rent increases plus taxes, above their respective base years. The tenants are responsible for all utilities and are separately metered. The landlord is responsible for the roof and the sidewalk, neither of which have needed repairs in the last three years. For more information about this property, please contact Michael Guarino Sr. at (646) 253-0907 or [email protected]. ERG Property Advisors is a full-service commercial brokerage company based in New York City. Its core activities are investment sales, retail leasing, and strategic consulting. While focused on the broader New York City area as a company, ERG also offers specific market knowledge at the submarket level. Beyond core New York City properties, ERG has access to a vast network of NNN properties throughout the United States. In addition to assisting property owners and prospective buyers, ERG provides banks, appraisers, attorneys, and accountants with information and skill sets that support them in their respective roles. Visit www.ergpa.com for recent deals and press coverage.