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    124st 124st New York, NY 10027

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    For Lease
    $12,000/Mo $65 SF/Yr (calc)

    Commercial Lease - New York, NY

    Property size:
    2,200 SF
    Added:
    Oct 6, 2025
    Days on Market:
    213
    Last Refresh:
    May 6 at 3:06 am

    Property Features for 124st 124st

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    200
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2
    Parking features
    Garage
    Standard status
    Active
    Size
    2,200 SF

    Taxes and HOA fees

    Tax Annual Amount
    0

    Building Details

    Year built
    2020
    Year renovated
    2020
    Floors in Building
    1
    Architectural style
    Other

    We can help!

    Listing Contact
    Raymond Rivera

    Listing agent Raymond Rivera

    Listing office ONE STOP MULTISERVICE INC 41-39 54 ST SUITE 4, WOODSIDE, NY

    Listing date Oct 6, 2025

    MLS# 11586079 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Harlem Restaurant Space with Basement

    This is a rare opportunity to lease a vacant restaurant space with a full basement, situated in the heart of Harlem's 125th Street commercial corridor, a vibrant retail destination in Manhattan. The space offers approximately 2,200 square feet, plus a basement, and is delivered vacant, ready for build-out. It is ideal for restaurant, café, or retail use, benefiting from high foot traffic and excellent visibility along 125th Street. The location experiences heavy vehicle traffic, with over 30,000 cars daily. It is steps from major subway and bus lines and surrounded by national and local retailers, supermarkets, and restaurants. Central Harlem is experiencing growth with new developments, restaurants, and retail brands moving in. The area serves a diverse, high-density population of more than 130,000 residents, with strong daytime activity from commuters, workers, and visitors. Located in the 125th Street & Lexington Ave / Madison Ave corridor, it is minutes to 2/3, 4/5/6, and Metro-North 125th St Stations. The property is delivered as-is, and tenant build-out is permitted.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    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.

    Similar Places Nearby

    • SuuChef — 1889 lexington ave, new york, ny 10035
    • Kens cooking lounge — 46 W 111th St, New York, NY 10026
    • ITIS CATERING — 2 E 115th St, New York, NY 10029
    • SoulKofa — 1590 Park Ave, New York, NY 10029
    • Black-Eyed Peas and Collard Greens / Black-Eyed Peas NYC / Catering and Pop Ups (Only) — 1580 Park Ave, Manhattan, NY 10029

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.81897
    Latitude
    40.685407

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    FAQs

    What type of property is this?
    Restaurant - Vacant restaurant space in Harlem's vibrant 125th Street corridor.
    Where is this restaurant located?
    The property is located at 124st 124st New York, NY.
    What is the lease rate?
    The lease rate is $12,000 /Mo.
    What are key features of this property?
    This property features: Prime Location: Heart of Harlem's 125th Street commercial corridor with high foot and vehicle traffic.; Vacant & Ready: Delivered vacant, ready for tenant's build‑out for restaurant, cafe, or retail use.; High Visibility: Excellent visibility on 125th Street.
    (718) 554-0257
    We can help!
    Listing Contact
    Raymond Rivera
    Learn More
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    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.

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