Building Details

Architectural style Other

Buildings 1

Listing Agency: Compass Show Phone

Listed By: John Mcguinness

Added: Jan 30 Changed: Oct 27 Last Checked: Oct 31 at 1:06PM

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MLS# 11873419

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Investment Insights

Based on property information with market context.

This 4860-square-foot mixed-use townhouse combines a two-bedroom, two-bathroom duplex with two independent commercial units. The upper residence spans two floors and includes large windows, high ceilings, natural light, and a fireplace. At street level, the storefront provides direct retail access along Lenox Avenue, while a separate second-floor office suite adds another commercial component.

Extensive gut renovation work completed in the 2010s modernized the building, with individual HVAC systems serving each unit. A full-height dry cellar with sidewalk hatch access provides additional storage. The property is located at 273 Lenox Avenue in New York, NY 10027, within Harlem’s Lenox Avenue corridor.

Key Highlights

• 4860‑square‑foot mixed‑use townhouse at 273 Lenox Avenue
• Two‑bedroom, two‑bathroom duplex across the upper two floors
• Two separate commercial units: a street‑level storefront and second‑floor office suite

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

Is this asking price fair?

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 (±1% cap)

NOI $683,921 @ 7.0% cap · market cap 24.43%

Second Best

Mixed Use

$2.21M

$1.94M – $2.58M (±1% cap)

NOI $154,913 @ 7.0% cap · market cap 5.53%

Theoretical Best

Specialty Retail

$12.10M

$10.59M – $14.11M (±1% cap)

NOI $846,806 @ 7.0% cap · market cap 30.24%

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

Storefront properties

Suggested Use

Top Pick Law Firm Real Estate Agency Acupuncture Accounting Firm Building Supply Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Owner residence sits above two independent commercial units with separate HVAC systems and flexible occupancy options.

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: 4860‑square‑foot mixed‑use townhouse at 273 Lenox Avenue; Two‑bedroom, two‑bathroom duplex across the upper two floors; Two separate commercial units: a street‑level storefront and second‑floor office suite