355 East 116th Street New York, NY 10026
Mixed-use property in prime East Harlem retail corridor.
- Added:
- May 18, 2026
- Days on Market:
- 55
- Last Refresh:
- Jun 26 at 7:30 pm
Property Features for 355 East 116th Street
General Information
- Standard status
- Active
- Size
- 7,384 SF
- Property subtype
- Multifamily, Mixed Use
Building Details
- Year Built
- 1900
Listing office Marcus & Millichap - Manhattan
Listing date May 18, 2026
Source Crexi
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 Marcus & Millichap - Manhattan
Investment Insights
Based on property information with market context.
Key Highlights
- Prime East Harlem location on a desirable retail street near 1st Avenue.
- Attractive 6.9% cap rate.
- Statutorily free‑market residential units offer upside growth potential.
Local 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 | $443.0k | $60.00 |
| − Vacancy | −$66.5k | −$9.00 |
| EGI | $376.6k | $51.00 |
| − OpEx | −$141.2k | −$19.13 |
| NOI | $235.4k | $31.88 |
