Cushman & Wakefield’s Capital Markets Group is pleased to present for sale 156-158 Fifth Avenue in the Village of Pelham, New York for $1,650,000.
156-158 Fifth Avenue is a 4,000± SF building situated on the east side of Fifth Avenue, across from the Pelham Art Center, between Third Street and Harmon Avenue. The fully occupied property currently has two tenants—a nail salon and a restaurant—and the layout of the building would allow for three retail fronts. Tenants are responsible for utilities and the restaurant is also responsible for its pro-rata share of tax increases over a base year.
The property is located in a Business-1 Zoning District and is within the Business District Floating Zone. Under the current zoning, the 4,500 SF lot would allow for nine dwelling units and approximately 18,000 SF to be built assuming sufficient parking is achievable.