500 W 207th St 5,884 SF 100% Leased Office Building New York, NY 10034 $9,950,000 ($1,691.03/SF)

CBRE has been retained on an exclusive basis to arrange for the sale of the fee simple interest in 500 West 207th Street (the “Property”). The Property consists of a 10,300 square-foot lot currently improved with two contiguous low-rise buildings featuring over 180 feet of wraparound frontage along the southwest corner of 207th Street and Tenth Avenue.
The Property is situated within a combination of zoning districts including C4-4D, R7A, C2-4, and the Special Inwood District, offering substantial redevelopment potential. The site supports a blended floor area ratio (FAR) of 6.93, allowing for up to 71,352 buildable square feet (BSF). Additionally, the Property falls within the “Zoning for Accessibility” program, which permits up to a 20% FAR bonus subject to City Planning Commission approval and the provision of an MTA accessibility easement.
The existing improvements consist of a single-story retail building fronting Tenth Avenue and a three-story, 23,814 SF mixed-use building with wraparound frontage along West 207th Street. The retail building (also known as 3860–3866 Tenth Avenue) is fully leased to three tenants, including an auto parts retailer, a restaurant operator, and a deli, with lease expirations extending through 2027 and 2028 and rents ranging from approximately $30 to $74 per square foot. The adjacent mixed-use building (500–502 West 207th Street) is similarly leased to multiple tenants, including two restaurant operators at the ground floor, achieving average rents of approximately $72 per square foot. Additional income is generated from leased space across the cellar, second, and third floors.
The acquisition of 500 West 207th Street presents a compelling opportunity to acquire a cash-flowing asset with near-term income stability and significant long-term redevelopment optionality. The Property’s scale, favorable zoning profile, and prominent location within a dynamic mixed-use corridor - adjacent to a major subway station - position it to benefit from continued neighborhood growth and strong transit-oriented demand.