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977 2nd Ave 4,460 SF 100% Leased Retail Building New York, NY 10022 $4,800,000 ($1,076.23/SF) 5.21% Cap Rate
INVESTMENT HIGHLIGHTS
- Premium mixed-use building.
- 3 residential units + 1 commercial unit.
- Protected tax class 2A.
- Fully leased 100% free-market.
- Licensed cannabis dispensary tenant.
- Significant in-place income.
EXECUTIVE SUMMARY
B6 Real Estate Advisors has been retained on an exclusive basis to arrange for the sale of 977 Second Avenue (the "Property"). The Property is a premium mixed-use asset in the heart of Midtown East, Manhattan. The Property features three free-market residential apartments, a retail store on the ground floor leased to a licensed cannabis dispensary, and a full basement. The Property offers significant in-place cash-flow for investors, upside in the residential units, and potential long-term development potential as part of an assemblage (air rights previously transferred).
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
4,460 SF
Building Class
C
Year Built/Renovated
1900/2022
Price
$4,800,000
Price Per SF
$1,076.23
Cap Rate
5.21%
NOI
$250,203
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Building FAR
3.41
Lot Size
0.03 AC
Zoning
C1-9 / R10 - C1-9 / R10 Equivalent
Frontage
20’ on Second Avenue
AMENITIES
- Controlled Access
- Signage
- Storage Space
- Air Conditioning
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Urban Leaf
- -
- -
-
$9.99
-
Lorem Ipsum
-
Jan 0000
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Urban Leaf | - | - | $9.99 | Lorem Ipsum | Jan 0000 |
Walk Score®
Walker's Paradise (100)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (80)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 1325-0030 | Improvements Assessment | $771,620 |
| Land Assessment | $463,500 | Total Assessment | $1,235,120 |
PROPERTY TAXES
Parcel Number
1325-0030
Land Assessment
$463,500
Improvements Assessment
$771,620
Total Assessment
$1,235,120
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977 2nd Ave
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