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448 W 47th St 9,035 SF 100% Leased Retail Building New York, NY 10036 $13,568,000 ($1,501.72/SF) 2.20% Cap Rate
INVESTMENT HIGHLIGHTS
- Excellent Corner Location in Mid-Town West Side Neighborhood.
EXECUTIVE SUMMARY
Prominently LOCATED on the southeast corner of Tenth Avenue and West 47th Street. This property represents a prime mixed-use investment and redevelopment opportunity in the HEART of MIDTOWN’S WEST/HELL’S KITCHEN. The site offers approximately 25.08 feet of FRONTAGE along Tenth Avenue and extends 100.42 feet along West 47ty Street , totaling roughly 2,518 square feet of land area.
The existing improvement consists of two interconnected buildings: a five-story mixed-use structure facing Tenth Avenue (668 10th Avenue) and a two-story rear building fronting West 47th Street (468 West 47th Street). The front building features a ground-floor restaurant tenant with eight residential apartments above, while the rear building includes an Italian restaurant on the first floor and a three-bedroom apartment on the second floor with a separate from West 47th Street.
The existing improvement consists of two interconnected buildings: a five-story mixed-use structure facing Tenth Avenue (668 10th Avenue) and a two-story rear building fronting West 47th Street (468 West 47th Street). The front building features a ground-floor restaurant tenant with eight residential apartments above, while the rear building includes an Italian restaurant on the first floor and a three-bedroom apartment on the second floor with a separate from West 47th Street.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Building Size
9,035 SF
Building Class
C
Year Built/Renovated
1910/1990
Price
$13,568,000
Price Per SF
$1,501.72
Cap Rate
2.20%
NOI
$298,496
Percent Leased
100%
Tenancy
Multiple
Building Height
5 Stories
Building FAR
3.25
Lot Size
0.06 AC
Zoning
R8/C2-5 - R8 allows 6.02 FAR residential with C2-5 mapping of 2.0.
Frontage
100’ on 10th Avenue
AMENITIES
- Corner Lot
- Restaurant
- Signalized Intersection
- Smoke Detector
Walk Score®
Walker's Paradise (99)
Transit Score®
Rider's Paradise (100)
Bike Score®
Biker's Paradise (91)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 1056-0061 | Total Assessment | $1,404,000 (2025) |
| Land Assessment | $513,000 (2025) | Annual Taxes | $175,500 ($19.42/SF) |
| Improvements Assessment | $891,000 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
1056-0061
Land Assessment
$513,000 (2025)
Improvements Assessment
$891,000 (2025)
Total Assessment
$1,404,000 (2025)
Annual Taxes
$175,500 ($19.42/SF)
Tax Year
2024
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448 W 47th St
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