Retail Condo on Frederick
2082 Frederick Douglass Blvd New York, NY 10026
For Sale
$925,000
464 SF retail condo with long-term tenant in Harlem.
Property Size464 SF
Price / SF$1,993
Days on Market112
Property Features for 2082 Frederick Douglass Blvd
General Information
- Standard status
- Active
- Size
- 464 SF
- Property subtype
- Restaurant
Listing Agency:
New York City Office
(212) 430-5229
Listed By:
Scott Plasky · License #License(s): NY: 40PL1176852
(212) 430-5229
Source:
Marcusmillichap
Added: Apr 3
Changed: Jul 10
Last Checked: Jul 10 at 1:14PM
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 New York City Office
Investment Insights
Based on property information with market context.
The property is a 464-square-foot retail condominium on Frederick Douglass Boulevard, situated between West 112th and West 113th Streets in Harlem, Upper Manhattan. The unit's total area is 833 square feet, comprising 464 square feet at grade level and an additional 369-square-foot lower level. It features 17 feet of retail frontage on Frederick Douglass Boulevard. The property is currently leased to Harlem Amor under a ten-year lease expiring in July 2034. The lease includes three percent annual rent increases and requires the tenant to reimburse real estate taxes exceeding the base year (2024/2025). Gas and venting are in place, and there are no use restrictions. The unit is located on the ground floor of a five-story, 14-unit building that was converted to condominiums in 2007. This is an opportunity to acquire a fully occupied retail asset in an area with high foot traffic and no use restrictions. The property is located three blocks from the B, C, and D subway lines, and thousands of housing units are located within a few blocks.
Key Highlights
- 100% occupied retail asset with a lease running through July 2034.
- Located in a high‑foot traffic area on Frederick Douglass Boulevard in Harlem.
- Tenant reimburses for real estate taxes above base year (2024/2025) and has three percent annual increases.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $109.4k | $235.68 |
| − Vacancy | −$16.1k | −$34.64 |
| EGI | $93.3k | $201.04 |
| − OpEx | −$28.0k | −$60.31 |
| NOI | $65.3k | $140.72 |
464 SF · lease $235.68/SF/yr · vacancy 14.70% · expense 30.00%
Alternative Uses
Best Use
Retail
$932.8K
$816.2K – $1.09M
NOI $65,296 @ 7.0% cap · market cap 7.06%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.15M
$1.01M – $1.35M
NOI $80,847 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
67 Orange Street
Bar & Pub
FAQs
What type of property is this?
Retail space - 464 SF retail condo with long-term tenant in Harlem.
Where is this retail space located?
The property is located at 2082 Frederick Douglass Blvd New York, NY.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 100% occupied retail asset with a lease running through July 2034.; Located in a **high‑foot traffic area** on Frederick Douglass Boulevard in Harlem.; Tenant reimburses for real estate taxes above base year (2024/2025) and has three percent annual increases.
