Mixed-Use Building with
For Sale
$2,888,000
303 W 116th Street New York, Manhattan, NY 10026
Four residential apartments occupy the upper floors, while a basement opens directly to the backyard.
Property Size6,590 SF
Lot Size0.05 Acres
Price / SF$438.24
Days on Market396
Property Features for 303 W 116th Street New York
General Information
Standard status
Active
Size
6,590 SF
Lot size
0.05 Acres
Property subtype
Commercial
Zoning
R7A / R8A
Site & Location
Road Access
Yes
Public Transit
Yes
Mixed-Use Components
residential, retail
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$12,801
Building Details
Building Size
6,590 SF
Year Built
1910
Buildings
1
Stories
5
Units
5
Construction
brick
Tenancy
Multi
Listing Agency:
RE/MAX Distinguished Hms.&Prop
(914) 346-8255
Listed By:
Ayleen Aybar · License #1040129216
(816) 812-6240
Source:
Clairedleone
Added: Sep 24, 2025
Changed: Oct 23
Last Checked: Oct 23 at 3:39PM
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 Hms.&Prop
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Investment Insights
Based on property information with market context.
This five-story brick property combines four residential apartments with commercial space at street level. Hardwood floors and high ceilings are among the building’s interior features, and a basement has direct backyard access. All residential and commercial units are vacant. The building dates to 1910 and carries R7A/R8A zoning with a C1-4 commercial overlay.
At 303 W 116th Street in Manhattan’s South Harlem, the property is steps from the B/C trains and near the 2/3 lines. Columbia University and Morningside Park are also nearby. The site measures approximately 20 feet by 100.92 feet, with a building footprint of approximately 20 feet by 63 feet.
At 303 W 116th Street in Manhattan’s South Harlem, the property is steps from the B/C trains and near the 2/3 lines. Columbia University and Morningside Park are also nearby. The site measures approximately 20 feet by 100.92 feet, with a building footprint of approximately 20 feet by 63 feet.
Key Highlights
- Five‑story brick building with four residential apartments above ground‑floor commercial space
- All residential and commercial units delivered vacant
- 1910 construction; R7A/R8A zoning with a C1‑4 commercial overlay
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.
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Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
9,113
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Four residential apartments occupy the upper floors, while a basement opens directly to the backyard.
Where is this mixed-use property located?
The property is located at 303 W 116th Street New York Manhattan, 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: Five‑story brick building with four residential apartments above ground‑floor commercial space; All residential and commercial units delivered vacant; 1910 construction; R7A/R8A zoning with a C1‑4 commercial overlay
