East Harlem Mixed-Use
For Sale
Contact for pricing
1873 Lexington Ave, New York, NY 10035
Four-unit building with retail, commercial, and residential spaces.
Property Size3,612 SF
Lot Size0.04 Acres
Price / SF$539.87
Days on Market699
Property Features for 1873 Lexington Ave
General Information
Standard status
Active
Size
3,612 SF
Lot size
0.04 Acres
Property subtype
Mixed Use
Zoning
R9, C2-5, EHC
Investment Type
Value Add
Building Details
Units
4
Listing Agency:
Brax Realty Group LLC
Listed By:
Alan Stenson · License #NY 10401274397
(646) 668-4801
Source:
Crexi
Added: Nov 6, 2024
Changed: Oct 4
Last Checked: Oct 5 at 7:02PM
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 Brax Realty Group LLC
Investment Insights
Based on property information with market context.
Located in the East Harlem neighborhood of Manhattan, the property at 1873 Lexington Avenue is a four-story brick building. It contains four units: one retail unit on the first floor/street level, one commercial unit on the second floor, and two residential free-market units. The building has a total of 3,612 square feet and sits on a 1,806 square foot lot with dimensions of 21ft x 86ft. The property also has approximately 10,632 square feet of additional air rights. This property presents an opportunity for an investor seeking to add value or for an end-user.
Key Highlights
- Located in East Harlem, Manhattan
- Four‑story brick building with a mix of retail, commercial, and residential units
- Includes one retail unit and one commercial unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$115,133
Cap Rate
5.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,302,660
$2.3M
Cap Rate 7%
$1,644,757
$1.6M
Cap Rate 9%
$1,279,256
$1.3M
Market Conditions
NOI Build-Up for 3,612 SF
Gross rent
$216.7K $60.00/SF
− Vacancy
−$32.5K −$9.00/SF
EGI
$184.2K $51.00/SF
− OpEx
−$69.1K −$19.13/SF
NOI
$115.1K $31.88/SF
Area
New York, NY
Vacancy
15.00%
Lease Rate
$60.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,302,660
Cap Rate 7%
$1,644,757
Cap Rate 9%
$1,279,256
Alternative Uses
Best Use
Mixed Use
$1.64M
$1.44M – $1.92M
NOI $115,133 @ 7.0% cap · market cap 5.90%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$8.99M
$7.87M – $10.49M
NOI $629,355 @ 7.0% cap · market cap 32.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
7,943
Businesses Nearby
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Business Placement
Demographics for 10035, NY
35,980
Population
16,340
Households
2.2
Avg Household Size
38
Median Age
31%
College-Educated
76%
High-School Grad
1.4 sq mi
ZIP Area
25,700
Density / Sq Mi
$40,556
Median Household Income
$44,042
Median Earnings
$1,283
Median Rent
$663,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four-unit building with retail, commercial, and residential spaces.
Where is this mixed-use property located?
The property is located at 1873 Lexington Ave New York, NY.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Located in East Harlem, Manhattan; Four‑story brick building with a mix of retail, commercial, and residential units; Includes one retail unit and one commercial unit
