Renovated Mixed-Use
For Sale
$2,800,000
273 Lenox Avenue, New York, NY 10027
Commercial Sale, New York, NY
Property Size4,860 SF
Price / SF$576.13
Days on Market264
Property Features for 273 Lenox Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bathroom 1, Bathroom 2
Fireplace
1
Subdivision
Mt. Morris Park
High school district
000000
Standard status
Active
Size
4,860 SF
Amenities
full-height dry cellar with sidewalk hatch access
Building Details
Architectural style
Other
Listing Agency:
Compass
(646) 982-0353
Listed By:
John Mcguinness
Added: Jan 30
Changed: Oct 21
Last Checked: Oct 21 at 2:06PM
MLS# 11667023
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.
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Investment Insights
Based on property information with market context.
This 4,860-square-foot mixed-use building combines a two-bedroom, two-bathroom duplex residence with two distinct commercial units. The upper residence occupies two floors and includes abundant natural light, high ceilings, large windows, and a fireplace. At street level, the storefront has direct retail access along Lenox Avenue, while a separate second-floor office suite adds another commercial component.
The property underwent a gut renovation in the 2010s, with independent HVAC systems serving each unit. A full-height dry cellar with sidewalk hatch access provides additional storage. The configuration supports combined owner occupancy and leasing, separate commercial use, or leasing across all three units. The property is located at 273 Lenox Avenue in New York, NY 10027.
The property underwent a gut renovation in the 2010s, with independent HVAC systems serving each unit. A full-height dry cellar with sidewalk hatch access provides additional storage. The configuration supports combined owner occupancy and leasing, separate commercial use, or leasing across all three units. The property is located at 273 Lenox Avenue in New York, NY 10027.
Key Highlights
- 4,860‑square‑foot mixed‑use building with three independently usable spaces
- Two‑bedroom, two‑bathroom duplex residence spanning the upper two floors
- Street‑level storefront with direct retail access along Lenox Avenue
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$154,913
Cap Rate
5.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,098,260
$3.1M
Cap Rate 7%
$2,213,043
$2.2M
Cap Rate 9%
$1,721,256
$1.7M
Market Conditions
NOI Build-Up for 4,860 SF
Gross rent
$291.6K $60.00/SF
− Vacancy
−$43.7K −$9.00/SF
EGI
$247.9K $51.00/SF
− OpEx
−$92.9K −$19.13/SF
NOI
$154.9K $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%
$3,098,260
Cap Rate 7%
$2,213,043
Cap Rate 9%
$1,721,256
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.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
9,401
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three independently usable spaces combine a renovated residential duplex with street-level retail and a separate office suite.
Where is this mixed-use property located?
The property is located at 273 Lenox Avenue New York, 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 building with three independently usable spaces; Two‑bedroom, two‑bathroom duplex residence spanning the upper two floors; Street‑level storefront with direct retail access along Lenox Avenue
