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    2291 7Th Ave New York, NY 10030

    Sponsored
    For Sale
    $1,600,000

    3-Unit Building, High ROI Potential

    Property size:
    2,867 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional mixed-use property at 2291 7th Avenue in New York, NY 10030, presents a compelling investment opportunity. The 2,867 square foot building boasts a strong 6.50% cap rate and a substantial net operating income (NOI) of $104,702. Situated on a 919 square foot lot, this four-story building features three units: two residential and one commercial. The commercial unit, a recently renovated duplex, is currently vacant, offering immediate flexibility for an owner-occupier or immediate rental income potential. The two residential units are currently occupied and well-maintained, generating rental income. The building is zoned R7-2 | C1-4. The asking price is $1,600,000, translating to $558 per square foot. The residential units currently rent at an average of $47 per net square foot, with significant upside potential upon tenant turnover, as comparable renovated units in the area command $60 per net square foot. This property offers a unique live/work opportunity in a desirable location with convenient access to public transportation and local amenities. The building's strong cash flow, combined with the potential for rental increases, makes this an attractive investment for both owner-users and investors seeking a high return on investment in a vibrant New York City neighborhood.

    Property Features for 2291 7Th Ave

    General Information

    Property type
    Mixed-use properties
    Square Feet
    2,867 SF

    Building Details

    Stories
    4
    Units
    3

    HighLights

    • Exceptional mixed‑use investment opportunity in prime NYC location (2291 7th Avenue, 10030).
    • 2,867 SF building on a 919 SF lot with a 6.50% cap rate and $104,702 NOI.
    • Four‑story building with three units: two residential (occupied) and one vacant, recently renovated commercial duplex.
    • R7‑2 | C1‑4 zoning.
    • Asking price: $1,600,000 ($558/SF).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9436083
    Latitude
    40.8148691

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    FAQs

    What type of property is this?
    Mixed-use property - 3-Unit Building, High ROI Potential
    Where is this mixed-use property located?
    The property is located at 2291 7Th Ave New York, NY.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: Exceptional mixed-use investment opportunity in prime NYC location (2291 7th Avenue, 10030).; 2,867 SF building on a 919 SF lot with a 6.50% cap rate and $104,702 NOI.; Four-story building with three units: two residential (occupied) and one vacant, recently renovated commercial duplex.
    Request Owner's contact information
    2291 7Th Ave New York, NY 10030
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    New York, NY 10030
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2291 7Th Ave New York, NY 10030
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