Renovated Mixed-Use
For Sale
$2,800,000
273 Lenox Avenue, New York City, NY 10027
Combines a two-bedroom, two-bathroom duplex with two independent commercial units.
Property Size4,860 SF
Price / SF$576.13
Days on Market182
Property Features for 273 Lenox Avenue
General Information
Standard status
Active
Size
4,860 SF
Property subtype
Mixed Use
Additional Details
Road Access
Yes
Office Units
1
Amenities
full-height dry cellar with sidewalk hatch access
Building Details
Building Size
4,860 SF
Year Built
1909
Buildings
1
Tenancy
Multi
Owner Occupied
Yes
Listing Agency:
Compass
(617) 833-5668
Listed By:
John R McGuinness
(617) 833-5668
Source:
Carlinwright
Added: Jan 31
Changed: Jul 31
Last Checked: Jul 31 at 3:10PM
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 Compass
Investment Insights
Based on property information with market context.
273 Lenox Avenue is a 4,860-square-foot mixed-use property built in 1909 and extensively gut renovated in the 2010s. The upper two floors contain a two-bedroom, two-bathroom duplex with natural light, soaring ceilings, and large windows overlooking Lenox Avenue. Separate HVAC systems serve each unit independently, and a full-height dry cellar with sidewalk hatch access provides additional storage.
The property includes two independent commercial spaces below the residence. The street-level storefront has direct retail access and visibility along Lenox Avenue, while the separate second-floor office suite provides an additional commercial unit. The building can accommodate an owner-occupant, separate commercial users, or leasing across all three units. A projected 7.14% capitalization rate is stated for leasing the full property.
The property includes two independent commercial spaces below the residence. The street-level storefront has direct retail access and visibility along Lenox Avenue, while the separate second-floor office suite provides an additional commercial unit. The building can accommodate an owner-occupant, separate commercial users, or leasing across all three units. A projected 7.14% capitalization rate is stated for leasing the full property.
Key Highlights
- 4,860‑square‑foot mixed‑use property built in 1909
- Two‑bedroom, two‑bathroom duplex across the upper two floors
- Two independent commercial units: street‑level storefront and second‑floor office suite
Financial Insights For Mixed Use
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 | $291.6k | $60.00 |
| − Vacancy | −$43.7k | −$9.00 |
| EGI | $247.9k | $51.00 |
| − OpEx | −$92.9k | −$19.13 |
| NOI | $154.9k | $31.88 |
4,860 SF · lease $60.00/SF/yr · vacancy 15.00% · expense 37.50%
Alternative Uses
Best Use
Retail
$9.77M
$8.55M – $11.40M
NOI $683,921 @ 7.0% cap · market cap 24.43%
Second Best
Mixed Use
$2.21M
$1.94M – $2.58M
NOI $154,913 @ 7.0% cap · market cap 5.53%
Theoretical Best
Specialty Retail
$12.10M
$10.59M – $14.11M
NOI $846,806 @ 7.0% cap · market cap 30.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office 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
Properties on Market for Mixed-use properties in New York County
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Combines a two-bedroom, two-bathroom duplex with two independent commercial units.
Where is this mixed-use property located?
The property is located at 273 Lenox Avenue New York City, NY.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 4,860‑square‑foot mixed‑use property built in 1909; Two‑bedroom, two‑bathroom duplex across the upper two floors; Two independent commercial units: street‑level storefront and second‑floor office suite
