Renovated Mixed-Use Townhouse in Hamilton
474 W 145th St New York, NY 10031
474 W 145th St, New York, NY, 10031
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For Sale
Contact for pricing
Turn-key investment property with commercial space and residential duplex.
Property Size4,800 SF
Price / SF$415.63
Days on Market1111
Property Features for 474 W 145th St
General Information
- Standard status
- Active
- Size
- 4,800 SF
- Property subtype
- Mixed Use, Multifamily
Building Details
- Year Built
- 1901
Listing Agency
Harlem Lofts
Listed by
Robert D. Pair · License #NY 31PA1003506
Source
Crexi
Added: Jul 6, 2023 Updated: Jul 6 at 8:11 am Checked: Jul 19 at 9:56 am
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 Harlem Lofts
Investment Insights
Based on property information with market context.
Located in the Hamilton Heights commercial corridor, 474 West 145th Street is a fully renovated, free-market, mixed-use townhouse. The property features commercial space on the ground and basement floors, an office on the first floor, and a duplex residential apartment on the upper two stories, totaling 4,800 square feet of usable space. The first floor offers flexibility and could be converted to residential use, creating two residential units above a commercial duplex. The residential space and office feature open-concept layouts with new appliances and fixtures, high ceilings, large windows, and ample storage space. The commercial space is in turn-key condition. The property is situated on a busy street in the heart of Hamilton Heights, a 10-minute walk to City College, and close to the Dance Theatre of Harlem, Jackie Robinson Park, The Hudson River Greenway, The Ten Mile River Playground, and the Harlem River Drive. Shopping, restaurants, cafes, and bars are within walking distance. The A/B/C/D-line subways at 145th Street are nearby, and the M3, M100, and M101 buses are within a short walk. This property is suitable for an investor or owner-landlord and is poised to generate an excellent return on investment.
Key Highlights
- Fully renovated mixed‑use townhouse in Hamilton Heights, offering immediate turn‑key return on investment.
- 4,800 sq ft of usable space with commercial, office, and duplex residential possibilities.
- Free Market building with flexibility to convert the first floor office into a second residential unit.
Local Financial Insights For Multifamily LT 5
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 | $244.8k | $51.00 |
| − Vacancy | −$12.7k | −$2.65 |
| EGI | $232.1k | $48.35 |
| − OpEx | −$69.6k | −$14.50 |
| NOI | $162.4k | $33.84 |
4,800 SF · lease $51.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$9.65M
$8.44M – $11.26M
NOI $675,478 @ 7.0% cap · market cap 33.86%
Second Best
Multifamily LT 5
$2.32M
$2.03M – $2.71M
NOI $162,449 @ 7.0% cap · market cap 8.14%
Theoretical Best
Specialty Retail
$11.95M
$10.45M – $13.94M
NOI $836,352 @ 7.0% cap · market cap 41.92%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Uomo
Barber Shop
Paloma Blush Room
Hair Salon
KINGKAY WAXING LOUNGE
Hair Salon
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FAQs
What type of property is this?
Mixed-use property - Turn-key investment property with commercial space and residential duplex.
Where is this mixed-use property located?
The property is located at 474 W 145th St New York, NY.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Fully renovated mixed‑use townhouse in Hamilton Heights, offering immediate turn‑key return on investment.; 4,800 sq ft of usable space with commercial, office, and duplex residential possibilities.; Free Market building with flexibility to convert the first floor office into a second residential unit.
