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1941-1943 Madison Ave 24,511 SF 100% Leased Retail Building New York, NY 10035 $25,000,000 ($1,019.95/SF) 4% Cap Rate
Investment Highlights
- Corner Property
- Additional 110,836 Sq Ft
Executive Summary
Discover a unique development opportunity in East Harlem! This assemblage of three commercial building sits in a prime location, perfectly positioned for mixed-use or residential development. With multiple floors and flexible space options, the building allows for a creative redesign to suit various business needs. This property is surrounded by high-traffic areas, residential developments, and established retail spaces, ensuring a steady flow of foot traffic and visibility. Close to public transit and main thoroughfares, it’s ideal for businesses looking to establish a presence in the vibrant East Harlem neighborhood. Don’t miss out on this chance to invest in one of Manhattan’s most dynamic areas with strong growth potential. The property is currently fully leased out and income producing with the yearly leases and demolition clauses in the leases.
Key Highlights:
• Location: Prime East Harlem, Manhattan
• Zoning: Flexible for mixed-use development
• Proximity: Near public transportation and busy shopping areas
• Potential Uses: Retail, office space, residential above retail
• Development Opportunity: Total square footage 135,347 Sq Ft
Key Highlights:
• Location: Prime East Harlem, Manhattan
• Zoning: Flexible for mixed-use development
• Proximity: Near public transportation and busy shopping areas
• Potential Uses: Retail, office space, residential above retail
• Development Opportunity: Total square footage 135,347 Sq Ft
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$1,211,400
|
$49.42
|
| Other Income |
$151,000
|
$6.16
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$1,362,400
|
$55.58
|
| Taxes |
$266,000
|
$10.85
|
| Operating Expenses |
$100,000
|
$4.08
|
| Total Expenses |
$366,000
|
$14.93
|
| Net Operating Income |
$996,400
|
$40.65
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $1,211,400 |
| Annual Per SF | $49.42 |
| Other Income | |
|---|---|
| Annual | $151,000 |
| Annual Per SF | $6.16 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $1,362,400 |
| Annual Per SF | $55.58 |
| Taxes | |
|---|---|
| Annual | $266,000 |
| Annual Per SF | $10.85 |
| Operating Expenses | |
|---|---|
| Annual | $100,000 |
| Annual Per SF | $4.08 |
| Total Expenses | |
|---|---|
| Annual | $366,000 |
| Annual Per SF | $14.93 |
| Net Operating Income | |
|---|---|
| Annual | $996,400 |
| Annual Per SF | $40.65 |
Property Facts
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Building Size
24,511 SF
Building Class
B
Year Built
1926
Price
$25,000,000
Price Per SF
$1,019.95
Cap Rate
4%
NOI
$1,000,000
Percent Leased
100%
Tenancy
Multiple
Building Height
5 Stories
Building FAR
3.13
Lot Size
0.18 AC
Zoning
C4-4D - Regional commercial center located outside of the central business districts
Amenities
- Signage
Exceptionally walkable
100/100
Moderately drivable
60/100
Exceptional public transit
100/100
Very bikeable
80/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 1749-0050 | Total Assessment | $2,495,520 (2025) |
| Land Assessment | $439,200 (2025) | Annual Taxes | $266,000 ($10.85/SF) |
| Improvements Assessment | $2,056,320 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
1749-0050
Land Assessment
$439,200 (2025)
Improvements Assessment
$2,056,320 (2025)
Total Assessment
$2,495,520 (2025)
Annual Taxes
$266,000 ($10.85/SF)
Tax Year
2024
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1941-1943 Madison Ave
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