Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2249 2nd Ave New York, NY

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    60,374 SF retail space near upcoming Q train stop.

    Type:RETAIL
    Property size:
    60,374 SF
    Lot size:
    0.17 Acres
    Added:
    Oct 20, 2025
    Days on Market:
    167
    Last Refresh:
    Apr 1 at 10:00 pm

    Property Features for 2249 2nd Ave

    General Information

    Standard status
    Active
    Size
    60,374 SF
    Lot size
    0.17 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Michael A. Tortorici
    Michael A. Tortorici

    Listing agent Michael A. Tortorici License #401085153

    Listing office Ariel Property Advisors

    Listing date Oct 20, 2025

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Ariel Property Advisors

    Overview

    East Harlem Retail Development Opportunity

    This 60,374 square-foot property offers a retail development opportunity with mandatory inclusionary housing. It features 78.92 feet of retail frontage along 2nd Avenue. The property is located steps from the future Q train subway stop at 2nd Avenue & East 116th Street, offering convenient access to transportation. The layout is rectangular. Situated between two major East Harlem retail corridors, 2nd Avenue and East 116th Street, the location provides access to multiple bus routes, the 6 train at Lexington Avenue, and the FDR Drive. The property is surrounded by shopping options and new residential construction. There is in place income from a lease for 2249 2nd Ave until Sept. 30th, 2026 with no extensions.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Xochitl Barber Shop Barber Shop Austin Joseph Marolla Physician East Side Medical Physician Eyepic | Harlem Eye ... Eye Care Center Dr. Austin Marolla Physician

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9383
    Latitude
    40.7967

    Nearby Similar for Sale

    • $499,000
      515 SF

      Chinatown Office Space Opportunity

      Vacant 515 sq ft office space in vibrant Chinatown.
      210 Canal Street, New York, NY 10013
      View Details
    • $1,050,000
      1,197 SF

      Manhattan Commercial Condo For Sale

      Move-in ready commercial condo in Little Italy/Chinatown, Manhattan.
      128 Mott Street, New York, NY 10013
      View Details
    • $85,000
      1,600 SF

      SoHo Restaurant Business Opportunity

      Established Japanese/Thai fusion restaurant in prime SoHo location for sale.
      273 Mott Street, New York, NY 10012
      View Details
    • $429,000
      437 SF

      Chinatown Office Space Available

      Vacant 437 sq ft office space in Chinatown.
      210 Canal Street, New York, NY 10013
      View Details
    • $1,850,000
      8,010 SF

      Commercial Storefront in New York

      Spacious commercial store with basement and backyard in New York.
      75 Allen Street, New York, NY 10002
      View Details
    • $4,380,000
      4,383 SF

      SoHo Commercial Condo For Sale

      Top-floor commercial condo in SoHo, minutes from Canal Street Station.
      424 Broadway Street, New York, NY 10038
      View Details
    • $9,750,000
      13,119 SF

      Seaport Mixed-Use Building Opportunity

      Mixed-use building in the Seaport district with income potential.
      115 South Street, New York, NY 10038
      View Details
    • $1,299,000
      1,764 SF

      Morris Park Detached Brick Tudor

      Detached 5-bedroom, 3-bathroom home in Morris Park, Bronx.
      2033 Hering Avenue, New York, NY 10461
      View Details
    • $4,990,000
      6,070 SF

      Mixed-Use Property in NYC Downtown

      Mixed-use property with residential and commercial units in excellent condition.
      30 Market Street, New York, NY 10002
      View Details
    • $7,995,000
      3,500 SF

      Mixed-Use Building in Lower East

      Three-story mixed-use building with development potential in Manhattan.
      113 Ludlow St, New York, NY 10002
      View Details
    • $1,299,000

      Tenant-Occupied Two-Family Home

      Solid brick two-family home, perfect for investors or owner-occupants.
      60-34 69th Ave, New York, NY 11385
      View Details
    • $3,200,000
      6,300 SF

      Chelsea Commercial Condo Fourth Floor

      6,300 SF white-box space in prime Chelsea location.
      305 7th Avenue, New York, NY 10001
      View Details

    FAQs

    What type of property is this?
    Retail space - 60,374 SF retail space near upcoming Q train stop.
    Where is this retail space located?
    The property is located at 2249 2nd Ave New York, NY.
    What are key features of this property?
    This property features: 60,374 BSF with Mandatory Inclusionary Housing; Boasts 78.92’ of retail frontage along 2nd Avenue; Steps from the future Q train subway stop at 2nd Avenue & East 116th Street
    (212) 544-9500 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Michael A. Tortorici
    Michael A. Tortorici
    Real Estate License ID: 401085153
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!