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48 Allen St 952 - 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 investors - 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
Data Room Click Here to Access
- Offering Memorandum
2 Units Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | Cap Rate | 10.35% |
| Sale Type | Investment |
| Cap Rate | 10.35% |
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.
| Sale Type | Investment | Cap Rate | 3.19% |
| Sale Type | Investment |
| Cap Rate | 3.19% |
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 | Unit Size | Condo Use | Price | NOI |
| Unit 1 | 1,070 SF | Retail | $1,250,000 ($1,168.22/SF) | $129,375 |
| Unit 2 | 952 SF | Retail | $2,250,000 ($2,363.45/SF) | $71,875 |
Unit 1
| Unit Size |
| 1,070 SF |
| Condo Use |
| Retail |
| Price |
| $1,250,000 ($1,168.22/SF) |
| NOI |
| $129,375 |
Unit 2
| Unit Size |
| 952 SF |
| Condo Use |
| Retail |
| Price |
| $2,250,000 ($2,363.45/SF) |
| NOI |
| $71,875 |
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Map
Unit 1
| Unit Size | 1,070 SF |
| Condo Use | Retail |
| Price | $1,250,000 ($1,168.22/SF) |
| NOI | $129,375 |
| Sale Type | Investment |
| Cap Rate | 10.35% |
| 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.</li></ul> | |
| Sale Notes | |
| Unit 1 and 2 can be combined for $3,500,000 with a 5.75% cap rate.</li></ul> |
1 of 0
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Unit 2
| Unit Size | 952 SF |
| Condo Use | Retail |
| Price | $2,250,000 ($2,363.45/SF) |
| NOI | $71,875 |
| Sale Type | Investment |
| Cap Rate | 3.19% |
| 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.</li></ul> | |
| Sale Notes | |
| Unit 1 and 2 can be combined for $3,500,000 with a 5.75% cap rate.</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.
Amenities
Site Amenities
- 24 Hour Access
- Recycling
- Trash Pickup - Curbside
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 |
|---|---|---|
| New Orchard Inc |
-
|
Jan 0000
|
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48 Allen St
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