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109 Norfolk St 2,610 SF Retail Condo Unit Offered at $2,000,000 in New York, NY 10002



Investment Highlights
- Heavy daytime foot traffic
- Twenty-Three feet of frontage plus roll-down gate for security.
- Lots of natural light
1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment or Owner User | Cap Rate | 6.00% |
| Sale Type | Investment or Owner User |
| Cap Rate | 6.00% |
Description
Prime Lower East Side Commercial Space Investment Opportunity! There is currently a Tenant in place already generating income. This duplex, open loft space is currently being used as a gallery, but has a ton of potential for other end uses. Large open space at (approx.) 2,610 square foot loft is sun-flooded with an oversized skylight and beautifully designed drop ceiling, featuring track lighting fixtures throughout the space. The mezzanine, accessed by an industrial staircase with metal railing opens up onto the lower floor to give a very bright and airy view of the lower level. The flooring is a neat concrete polished look, giving the entire commercial space an industrial chic feel to fit the neighborhood perfectly.
The store front space can be opened in its totality providing direct access to the Norfolk Street sidewalk with three large floor-to-ceiling windows, which are all retractable to the sides. The Switch Building pioneered modern architecture and luxury boutique living in the Lower East Side. This commercial space is attractive and extremely versatile with the potential to be anything from offices, any type of non-profit, or Community Use . Commercial space is designated/zoned as Community Use.
The store front space can be opened in its totality providing direct access to the Norfolk Street sidewalk with three large floor-to-ceiling windows, which are all retractable to the sides. The Switch Building pioneered modern architecture and luxury boutique living in the Lower East Side. This commercial space is attractive and extremely versatile with the potential to be anything from offices, any type of non-profit, or Community Use . Commercial space is designated/zoned as Community Use.
Sale Notes
Prime investment opportunity in the Lower East side. There are many new modern commercial and residential buildings in this neighborhood. It is near the Essex Market,and there are a number of restaurants and boutiques close by. At present there is a tenant in place that has four years remaining on their lease. The space is in excellent condition. The condominium was built in 2014. There is one occupant per floor.
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit Retail | 2,610 SF | Retail | $2,000,000 ($766.28/SF) | $120,000 |
Unit Retail
| Unit Size |
| 2,610 SF |
| Condo Use |
| Retail |
| Price |
| $2,000,000 ($766.28/SF) |
| NOI |
| $120,000 |
1 of 0
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Unit Retail
| Unit Size | 2,610 SF |
| Condo Use | Retail |
| Price | $2,000,000 ($766.28/SF) |
| NOI | $120,000 |
| Sale Type | Investment or Owner User |
| Cap Rate | 6.00% |
| Description | |
| Prime Lower East Side Commercial Space Investment Opportunity! There is currently a Tenant in place already generating income. This duplex, open loft space is currently being used as a gallery, but has a ton of potential for other end uses. Large open space at (approx.) 2,610 square foot loft is sun-flooded with an oversized skylight and beautifully designed drop ceiling, featuring track lighting fixtures throughout the space. The mezzanine, accessed by an industrial staircase with metal railing opens up onto the lower floor to give a very bright and airy view of the lower level. The flooring is a neat concrete polished look, giving the entire commercial space an industrial chic feel to fit the neighborhood perfectly.<br> The store front space can be opened in its totality providing direct access to the Norfolk Street sidewalk with three large floor-to-ceiling windows, which are all retractable to the sides. The Switch Building pioneered modern architecture and luxury boutique living in the Lower East Side. This commercial space is attractive and extremely versatile with the potential to be anything from offices, any type of non-profit, or Community Use . Commercial space is designated/zoned as Community Use.</li></ul> | |
| Sale Notes | |
| Prime investment opportunity in the Lower East side. There are many new modern commercial and residential buildings in this neighborhood. It is near the Essex Market,and there are a number of restaurants and boutiques close by. At present there is a tenant in place that has four years remaining on their lease. The space is in excellent condition. The condominium was built in 2014. There is one occupant per floor.</li></ul> |
Property Facts
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Building Size | 12,307 SF | Floors | 6 |
| Property Type | Multifamily (Condo) | Typical Floor Size | 2,051 SF |
| Property Subtype | Apartment | Year Built | 2005 |
| Building Class | B | Lot Size | 0.06 AC |
| Zoning | R7A C4-4A | ||
| Total Building Size | 12,307 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Building Class | B |
| Floors | 6 |
| Typical Floor Size | 2,051 SF |
| Year Built | 2005 |
| Lot Size | 0.06 AC |
| Zoning | R7A C4-4A |
Amenities
Site Amenities
- Elevator
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Exceptionally bikeable
90/100
Major Tenant Information Click Here to Access
| TENANT | SF Occupied | LEASE END DATE |
|---|---|---|
| Hollis Gallery |
-
|
Jan 0000
|
1 of 6
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
Susan B. Anthony Real Estate
109 Norfolk St
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