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48 Allen St 925 - 1,070 SF Retail Condo Units Offered at $1,250,000 - $2,250,000 Per Unit in New York, NY 10002
Investment Highlights
- Stable cashflow asset with built-in upside for investoras - Great opportunity for a User to secure a long-term location avoiding rising rents.
Executive Summary
Property Highlights: Dual frontage on Orchard and Allen Streets Elevator to lower level (ADA access) 100% occupied with Gross Annual Income of $249,000 Both Leases expire in May 2027 Located in one of Manhattan's most dynamic and evolving retail corridors
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Disposal
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Recycling
- Trash Pickup - Curbside
- Smoke Detector
2 Units Available
Unit 1
| Unit Size | 1,070 SF | Sale Type | Investment |
| Price | $2,250,000 | Cap Rate | 5.75% |
| Price Per SF | $2,102.80 | NOI | $129,375 |
| Condo Use | Retail |
| Unit Size | 1,070 SF |
| Price | $2,250,000 |
| Price Per SF | $2,102.80 |
| Condo Use | Retail |
| Sale Type | Investment |
| Cap Rate | 5.75% |
| NOI | $129,375 |
Description
49 Orchard Street & 48 Allen Street presents a rare opportunity to acquire a fully leased, block-through retail condominiums in the heart of Manhattan’s Lower East Side. This unique asset spans approximately 1,995 square feet across two fully leased retail units (inclusive of cellar)—one fronting Orchard Street and the other fronting Allen Street—offering dual street exposure, excellent visibility, and enhanced accessibility. The property includes elevator access to the lower level on the Allen Street side, further boosting its appeal to a wide range of tenants.
Sale Notes
Unit 1 and 2 can be combined for $3,500,000 with a 5.75% cap rate.
Unit 2
| Unit Size | 925 SF | Sale Type | Investment |
| Price | $1,250,000 | Cap Rate | 5.75% |
| Price Per SF | $1,351.35 | NOI | $71,875 |
| Condo Use | Retail |
| Unit Size | 925 SF |
| Price | $1,250,000 |
| Price Per SF | $1,351.35 |
| Condo Use | Retail |
| Sale Type | Investment |
| Cap Rate | 5.75% |
| NOI | $71,875 |
Description
49 Orchard Street & 48 Allen Street presents a rare opportunity to acquire a fully leased, block-through retail condominiums in the heart of Manhattan’s Lower East Side. This unique asset spans approximately 1,995 square feet across two fully leased retail units (inclusive of cellar)—one fronting Orchard Street and the other fronting Allen Street—offering dual street exposure, excellent visibility, and enhanced accessibility. The property includes elevator access to the lower level on the Allen Street side, further boosting its appeal to a wide range of tenants.
Sale Notes
Unit 1 and 2 can be combined for $3,500,000 with a 5.75% cap rate.
Major Tenant Information Click Here to Access
| TENANT | SF Occupied | LEASE END DATE |
|---|---|---|
| New Orchard Inc |
-
|
Jan 0000
|
Presented by
48 Allen St
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