Mixed-Use Building with
For Sale
$3,240,000
172 E 112TH Street, Manhattan, NY 10029
Twenty-unit property combines rent-stabilized apartments with leased commercial space in East Harlem.
Property Size1,875 SF
Price / SF$1,728
Days on Market82
Property Features for 172 E 112TH Street
General Information
Standard status
Active
Size
1,875 SF
Property subtype
Mixed Use
Net Operating Income
$228,230
Financials
Asking Price
$3,240,000
Cap Rate
7.04%
Gross Income
$406,450
Additional Details
Multifamily Units
18
Taxes and HOA fees
Annual Taxes
$83,484
Building Details
Building Size
1,875 SF
Year Built
1910
Listing Agency:
Douglas Elliman Real Estate
Listed By:
stella chernoff · License #10401240933
(917) 847-8634
Source:
Howardhannanyc
Added: Aug 12
Changed: Oct 31
Last Checked: Oct 30 at 8:21PM
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 Douglas Elliman Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 172 E 112th Street in East Harlem, Manhattan, this mixed-use property contains 20 units, including 18 rent-stabilized apartments and two retail spaces at street level. The building dates to 1910 and combines residential occupancy with commercial tenancy in a single asset.
Two apartments, identified as 2D and 3B, are vacant; apartment 2D is undergoing renovation. Both retail spaces are occupied under long-term leases, providing an established commercial component. The property currently reports a 7.04% capitalization rate, with a projected 8.75% pro forma capitalization rate after the vacant apartments are addressed.
Two apartments, identified as 2D and 3B, are vacant; apartment 2D is undergoing renovation. Both retail spaces are occupied under long-term leases, providing an established commercial component. The property currently reports a 7.04% capitalization rate, with a projected 8.75% pro forma capitalization rate after the vacant apartments are addressed.
Key Highlights
- 20‑unit mixed‑use property at 172 E 112th Street, New York City, NY 10029
- 18 rent‑stabilized residential apartments
- Two ground‑floor retail spaces occupied under long‑term leases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$253,125
Cap Rate
7.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,062,500
$5.1M
Cap Rate 7%
$3,616,071
$3.6M
Cap Rate 9%
$2,812,500
$2.8M
Market Conditions
NOI Build-Up for 1,875 SF
Gross rent
$450.0K $240.00/SF
− Vacancy
−$45.0K −$24.00/SF
EGI
$405.0K $216.00/SF
− OpEx
−$151.9K −$81.00/SF
NOI
$253.1K $135.00/SF
Area
ZIP 10029
Vacancy
10.00%
Lease Rate
$240.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,062,500
Cap Rate 7%
$3,616,071
Cap Rate 9%
$2,812,500
Alternative Uses
Best Use
Retail
$5.15M
$4.50M – $6.00M
NOI $360,281 @ 7.0% cap · market cap 11.12%
Second Best
Mixed Use
$3.62M
$3.16M – $4.22M
NOI $253,125 @ 7.0% cap · market cap 7.81%
Theoretical Best
Specialty Retail
$6.69M
$5.85M – $7.80M
NOI $468,281 @ 7.0% cap · market cap 14.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
18
Residential units
Location Intelligence
Trade Area within ½ mile
11,430
Businesses Nearby
Explore this area
Business Placement
Demographics for 10029, NY
78,141
Population
36,955
Households
2.1
Avg Household Size
36
Median Age
36%
College-Educated
78%
High-School Grad
1.2 sq mi
ZIP Area
65,118
Density / Sq Mi
$38,308
Median Household Income
$41,951
Median Earnings
$1,183
Median Rent
$818,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Twenty-unit property combines rent-stabilized apartments with leased commercial space in East Harlem.
Where is this mixed-use property located?
The property is located at 172 E 112TH Street Manhattan, NY.
What is the asking price?
The asking price for this property is $3,240,000.
What are key features of this property?
This property features: 20‑unit mixed‑use property at 172 E 112th Street, New York City, NY 10029; 18 rent‑stabilized residential apartments; Two ground‑floor retail spaces occupied under long‑term leases
