94 Eighth Ave - Storefront Retail/Residential FOR SALE


New York, NY 10011- Chelsea
$5,500,000 USD
917-715-1632
94 Eighth Ave, New York, NY for Sale
$5,500,000 USD
Storefront Retail/Residential - FOR SALE
1/4
null | 5.44% Cap Rate

NEW


94 Eighth Ave
New York, NY 10011
Chelsea


OVERVIEW

This is a mixed-use property with the first floor retail tenant being a Pay-O-Matic check cashing store leased until 2029 plus a 5 year option and the residential duplex unit upstairs on floors 2 and 3 being currently vacant. Located in Chelsea near the meatpacking district on the east side of 8th Avenue between West 15th Street and West 14th Street, one block from Google headquarters. Property is primarily a 2-Family with One Store on the Ground Floor and a Residential duplex above. Built in 1901. Perfect for user investor. Currently 1 tenant, the Commercial unit on the first floor. The Residential duplex on floors 2 and 3 is currently vacant. Commercial Unit – Pay-O-Matic Store – Monthly Rent $16,239 / Annual $194,876 with 3% annual escalations – Lease Expiration 11/13/2029 plus 5-year option renewal Residential Unit – Delivered Vacant, potential monthly Rent $14,000 / potential annual rent $168,000 Total monthly potential income $30,239/ Total potential annual income $362,868. Total Annual Operating Expenses – ($39,642) Potential NOI: $ 323,226 Annually

FOR SALE DETAILS

PRICE

$5,500,000 USD

PRICE/SF

$845 USD /SF

CAP RATE

5.44%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1901

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

18,960 SF

ZONING

C1-6A

APN/PARCEL ID

0764-0074

ASK ABOUT THIS PROPERTY

Ariel KowalskyAriel KowalskyMore Info
917-715-1632

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Ariel KowalskyAriel KowalskyMore Info
917-715-1632

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