Harlem Mixed-Use Investment
For Sale
$2,888,000
303 W 116th St, New York, NY 10026
Five-story building with retail and residential units in South Harlem.
Property Size6,590 SF
Lot Size0.05 Acres
Price / SF$438.24
Days on Market212
Property Features for 303 W 116th St
General Information
Standard status
Active
Size
6,590 SF
Lot size
0.05 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$12,801
Building Details
Building Size
6,590 SF
Year Built
1910
Units
5
Listing Agency:
RE/MAX Distinguished Homes & Properties
Listed By:
Ayleen Aybar · License #1040129216
(816) 812-6240
Source:
Elliman
Added: Mar 10
Changed: Oct 6
Last Checked: Oct 5 at 7:30PM
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 RE/MAX Distinguished Homes & Properties
Investment Insights
Based on property information with market context.
This five-story brick building in South Harlem presents a mixed-use opportunity with both residential and commercial components. The property features four full-floor residential apartments situated above a ground-floor retail space. The building has a brick facade, hardwood floors, and high ceilings. The ground-floor commercial space benefits from high visibility and foot traffic. A full basement with direct access to the backyard offers potential for storage, expansion, or additional use. Built on a lot measuring approximately 20 feet by 100.92 feet, the building footprint is approximately 20 feet by 63 feet, totaling over 6,590 square feet. The property is located on one of Harlem’s busiest East-West corridors, with convenient access to the B/C trains and proximity to the 2/3 lines. It is also located near Columbia University, Morningside Park, and the dining options on Frederick Douglass Blvd. The zoning is R7A / R8A with a C1-4 commercial overlay.
Key Highlights
- Turnkey, income‑producing mixed‑use property with retail and residential units in South Harlem.
- High‑visibility ground floor retail space on a busy East‑West corridor.
- Strong potential to add value through renovation or reconfiguration of vacant residential units.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$210,056
Cap Rate
7.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,201,120
$4.2M
Cap Rate 7%
$3,000,800
$3.0M
Cap Rate 9%
$2,333,956
$2.3M
Market Conditions
NOI Build-Up for 6,590 SF
Gross rent
$395.4K $60.00/SF
− Vacancy
−$59.3K −$9.00/SF
EGI
$336.1K $51.00/SF
− OpEx
−$126.0K −$19.13/SF
NOI
$210.1K $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%
$4,201,120
Cap Rate 7%
$3,000,800
Cap Rate 9%
$2,333,956
Alternative Uses
Best Use
Retail
$13.25M
$11.59M – $15.46M
NOI $927,375 @ 7.0% cap · market cap 32.11%
Second Best
Mixed Use
$3.00M
$2.63M – $3.50M
NOI $210,056 @ 7.0% cap · market cap 7.27%
Theoretical Best
Specialty Retail
$16.40M
$14.35M – $19.14M
NOI $1,148,242 @ 7.0% cap · market cap 39.76%
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
9,113
Businesses Nearby
Explore this area
Business Placement
Demographics for 10026, NY
35,644
Population
17,648
Households
2
Avg Household Size
37
Median Age
54%
College-Educated
90%
High-School Grad
0.4 sq mi
ZIP Area
89,110
Density / Sq Mi
$74,140
Median Household Income
$56,919
Median Earnings
$1,546
Median Rent
$1,014,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Five-story building with retail and residential units in South Harlem.
Where is this mixed-use property located?
The property is located at 303 W 116th St New York, NY.
What is the asking price?
The asking price for this property is $2,888,000.
What are key features of this property?
This property features: Turnkey, income‑producing mixed‑use property with retail and residential units in South Harlem.; High‑visibility ground floor retail space on a busy East‑West corridor.; Strong potential to add value through renovation or reconfiguration of vacant residential units.
