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94 Avenue C 3,962 SF 100% Leased Retail Building New York, NY 10009 $4,350,000 ($1,097.93/SF) 5.87% Cap Rate
EXECUTIVE SUMMARY
Investment Property Realty Group (IPRG) is pleased to present 94 Avenue C, a four-story, mixed-use building located between East 6th and East 7th Streets in the heart of
the East Village, one of Manhattan’s most dynamic and sought-after neighborhoods. The property spans approximately 3,962 square feet and sits on a 22.67 ft x 52 ft lot. The
building measures 23 ft x 43 ft and is zoned R7A, C2-5, offering flexibility for both residential and commercial uses. It is classified in the 2B protected tax class, providing longnterm tax stability. 94 Avenue C consists of three full-floor, free-market residential units and one ground-floor retail space. The retail is occupied by Bobwhite Counter, a popular neighborhood eatery and anchor tenant. The restaurant space includes a finished basement and outdoor storage area with a newly added electric hot water tank, and benefits from excellent visibility and strong foot traffic along Avenue C.
The residential portion consists of two two-bedroom apartments on the second and third floors, and one three-bedroom apartment on the fourth floor—each occupying a full
floor. All units are free-market and present strong rent growth potential through renovation to further enhance income and appeal.
Situated in the vibrant East Village, the property is surrounded by an eclectic mix of restaurants, cafés, boutique retailers, and nightlife, and is only steps from Tompkins Square
Park. The location also offers convenient access to major subway lines and bus routes, connecting tenants quickly to the rest of Manhattan and beyond.
94 Avenue C represents a rare opportunity to acquire a well-maintained, cash-flowing mixed-use property with curb appeal and immediate rental upside in one of Manhattan’s most energetic and culturally rich neighborhoods.
LIST OF RECENT IMPROVEMENTS:
• New roof & new staircase from level 2 to 3
• Converted all units from gas to electric including new appliances over the last 2 years
• The restaurant is ADA compliant (ramp added in last 10 years)
• All 3 units have new heating/cooling systems about 7/8 years ago
• Electric service was increased to 200 amps, and a new meter was installed in April 2022 at Bobwhite Counter
the East Village, one of Manhattan’s most dynamic and sought-after neighborhoods. The property spans approximately 3,962 square feet and sits on a 22.67 ft x 52 ft lot. The
building measures 23 ft x 43 ft and is zoned R7A, C2-5, offering flexibility for both residential and commercial uses. It is classified in the 2B protected tax class, providing longnterm tax stability. 94 Avenue C consists of three full-floor, free-market residential units and one ground-floor retail space. The retail is occupied by Bobwhite Counter, a popular neighborhood eatery and anchor tenant. The restaurant space includes a finished basement and outdoor storage area with a newly added electric hot water tank, and benefits from excellent visibility and strong foot traffic along Avenue C.
The residential portion consists of two two-bedroom apartments on the second and third floors, and one three-bedroom apartment on the fourth floor—each occupying a full
floor. All units are free-market and present strong rent growth potential through renovation to further enhance income and appeal.
Situated in the vibrant East Village, the property is surrounded by an eclectic mix of restaurants, cafés, boutique retailers, and nightlife, and is only steps from Tompkins Square
Park. The location also offers convenient access to major subway lines and bus routes, connecting tenants quickly to the rest of Manhattan and beyond.
94 Avenue C represents a rare opportunity to acquire a well-maintained, cash-flowing mixed-use property with curb appeal and immediate rental upside in one of Manhattan’s most energetic and culturally rich neighborhoods.
LIST OF RECENT IMPROVEMENTS:
• New roof & new staircase from level 2 to 3
• Converted all units from gas to electric including new appliances over the last 2 years
• The restaurant is ADA compliant (ramp added in last 10 years)
• All 3 units have new heating/cooling systems about 7/8 years ago
• Electric service was increased to 200 amps, and a new meter was installed in April 2022 at Bobwhite Counter
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,962 SF
Building Class
C
Year Built
1900
Price
$4,350,000
Price Per SF
$1,097.93
Cap Rate
5.87%
NOI
$255,345
Percent Leased
100%
Building Height
4 Stories
Building FAR
3.31
Lot Size
0.03 AC
Zoning
R7A, C2-5
Frontage
23’ on Avenue C
AMENITIES
- Bus Line
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Bob White Counter LLC
- Retailer
- -
- -
- Dec 2031
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Bob White Counter LLC | Retailer | - | - | Dec 2031 |
Walk Score®
Walker's Paradise (97)
Transit Score®
Rider's Paradise (100)
Bike Score®
Biker's Paradise (99)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 0376-0003 | Improvements Assessment | $178,017 |
| Land Assessment | $19,574 | Total Assessment | $197,591 |
PROPERTY TAXES
Parcel Number
0376-0003
Land Assessment
$19,574
Improvements Assessment
$178,017
Total Assessment
$197,591
CONTACTS
-
Zachary Ziskin -
Adam Lobel -
Justin Zeitchik -
Christian Ingenito -
Investment Property Realty Group
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94 Avenue C
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