1461 St Nicholas Ave - Schools FOR SALE


New York, NY 10033- Fort George
$17,500,000 USD
646-933-2608
1461 St Nicholas Ave, New York, NY for Sale
$17,500,000 USD
Schools - FOR SALE
1/6
null | 7.44% Cap Rate

1461 St Nicholas Ave
New York, NY 10033
Fort George


HIGHLIGHTS

  • Fully Occupied · Cash Flowing 100% leased to three established tenants across 33,779 SF. The building has been fully occupied for decades, producing s
  • Government-Backed Anchor Tenant Anchor tenant occupies 30,779 SF (91%) under a government lease expiring July 2027. Tenant has been at this location f
  • Tax Reimbursements Boost Yield Tenants reimburse $378,631 per year in property taxes, materially boosting effective yield. Total EGI including reimbur
  • Prime Washington Heights Corner 175' of wraparound frontage at the high-traffic corner of St Nicholas Avenue and West 183rd Street. Steps from the Geo
  • Mark-to-Market Rent Upside The anchor tenant's lease ($36/SF) is well below market, presenting significant rent growth optionality at expiration in Ju
  • Ideal 1031 Exchange Vehicle Fully occupied, government-anchored asset with zero near-term leasing risk and a strong, tax-reimbursement-enhanced yield

OVERVIEW

1461–1467 St Nicholas Avenue (601 West 183rd Street) is a three-story, fully-occupied commercial building situated on a prominent corner in Washington Heights, Manhattan. The building comprises a single 7,492 SF lot with 33,779 above-grade gross SF, encompassing one school tenant and two ground-level retail units. The anchor tenant has occupied the building for over 50 years — a testament to institutional-quality tenancy and location. With 175' of wraparound frontage at one of Northern Manhattan's busiest intersections, the property benefits from exceptional visibility, foot traffic, and transit access.

FOR SALE DETAILS

PRICE

$17,500,000 USD

PRICE/SF

$518 USD /SF

CAP RATE

7.44%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Schools

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

C

YEAR BUILT

1928

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,500 SF

ZONING

R7-2

APN/PARCEL ID

2165-0069

ASK ABOUT THIS PROPERTY

Jonathan BuergerB6 Real Estate Advisors LLCMore Info
646-933-2608

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Jonathan BuergerB6 Real Estate Advisors LLCMore Info
646-933-2608

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.