Mixed-Use Building with Commercial
262 Lenox Avenue, New York, NY 10027
For Sale
Contact for pricing
Vacant property pairs commercial premises with two residential units.
Property Size4,624 SF
Lot Size0.03 Acres
Price / SF$517.95
Days on Market34
Property Features for 262 Lenox Avenue
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Site & Location
Neighborhood
Road Access
Public Transit
Mixed-Use Components
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Buildings
Stories
Tenancy
Listing Agency:
Besen Partners
Listed By:
Jay Bernstein
(212) 951-8406
Source:
Crexi
Added: Oct 8
Changed: Nov 8
Last Checked: Nov 8 at 5:38PM
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 Besen Partners
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Investment Insights
Based on property information with market context.
This vacant, four-story mixed-use property contains a two-level commercial component and two residential units, each with two bedrooms. The building dates to circa 1915 and occupies a 1,500± SF lot, with 4,624± SF of building area. Zoning is R7-2, with a 3.44 F.A.R. for residential use and 6.5 F.A.R. for facility use.
The property sits on Lenox Avenue within the Mount Morris Park Historic District, between West 123rd and West 124th Streets. The 125th Street [2,3] subway station is two blocks away.
The property sits on Lenox Avenue within the Mount Morris Park Historic District, between West 123rd and West 124th Streets. The 125th Street [2,3] subway station is two blocks away.
Key Highlights
- 4,624± SF vacant, four‑story building
- Two‑story commercial component and two two‑bedroom residential units
- 1,500± SF lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$147,390
Cap Rate
6.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,947,800
$2.9M
Cap Rate 7%
$2,105,571
$2.1M
Cap Rate 9%
$1,637,667
$1.6M
Market Conditions
NOI Build-Up for 4,624 SF
Gross rent
$277.4K $60.00/SF
− Vacancy
−$41.6K −$9.00/SF
EGI
$235.8K $51.00/SF
− OpEx
−$88.4K −$19.13/SF
NOI
$147.4K $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%
$2,947,800
Cap Rate 7%
$2,105,571
Cap Rate 9%
$1,637,667
Alternative Uses
Best Use
Mixed Use
$2.11M
$1.84M – $2.46M
NOI $147,390 @ 7.0% cap · market cap 6.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.23M
$2.83M – $3.77M
NOI $226,292 @ 7.0% cap · market cap 9.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
9,401
Businesses Nearby
Explore this area
Business Placement
Demographics for 10027, NY
64,037
Population
28,038
Households
2.3
Avg Household Size
32
Median Age
52%
College-Educated
87%
High-School Grad
0.9 sq mi
ZIP Area
71,152
Density / Sq Mi
$64,220
Median Household Income
$44,231
Median Earnings
$1,609
Median Rent
$915,000
Median Home Value
Market
Average Price Trend$/SF for Mixed-use properties in New York, NY
Properties on Market for Mixed-use properties in New York
Frequently Asked Questions
What type of property is this?
Mixed-use property - Vacant property pairs commercial premises with two residential units.
Where is this mixed-use property located?
The property is located at 262 Lenox Avenue New York, NY.
What is the asking price?
The asking price for this property is $2,395,000.
What are key features of this property?
This property features: 4,624± SF vacant, four‑story building; Two‑story commercial component and two two‑bedroom residential units; 1,500± SF lot
