698 2nd Ave - Storefront Retail/Residential FOR SALE


New York, NY 10016- Murray Hill
$7,200,000 USD
917-822-7391
698 2nd Ave, New York, NY for Sale
$7,200,000 USD
Storefront Retail/Residential - FOR SALE
1/12
null | 5.89% Cap Rate

698 2nd Ave
New York, NY 10016
Murray Hill


HIGHLIGHTS

  • Brand new building
  • Low expenses - low maitanence
  • New long term commercial lease
  • All units have serperate heating and cooling units

OVERVIEW

698 2nd Avenue, located between East 37th and East 38th Streets in Murray Hill. This brand-new, low-maintenance four-story mixed-use building features a two-level retail space and two free-market three-bedroom, two-bath apartments with modern finishes and private outdoor areas. Both apartments include in-unit washer/dryers, independent HVAC systems, and separately metered utilities. The tenants responsible for all utility costs. The commercial lease runs for ten years with renewal options, and the property includes 12,516 square feet of unused FAR, offering excellent development potential. Residential Max FAR: 10. This turnkey mixed-use asset is ideal for investors seeking strong income and long-term upside in a prime Manhattan location.

FOR SALE DETAILS

PRICE

$7,200,000 USD

PRICE/SF

$1,319 USD /SF

CAP RATE

5.89%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mixed Use - FM - Tenants Pay All Utilties

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2018

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.04 AC

LAND SF

1,742 SF

ZONING

C1-9, TA

APN/PARCEL ID

0943-0060

ASK ABOUT THIS PROPERTY

Christen PortelliHighcap Group LLCMore Info
917-822-7391

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Christen PortelliHighcap Group LLCMore Info
917-822-7391

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