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    887 1St Ave New York, NY 10022

    Sponsored
    For Lease
    $61 SF/Yr

    1950 sq ft Bar/Restaurant Space, East Midtown

    Lot size:
    1,950 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 1,950 square foot retail space is ideally situated on the corner of 1st Avenue and East 50th Street in Manhattan's vibrant East Midtown neighborhood. Boasting 44 feet of frontage on 1st Avenue, the space features oversized glass windows and a glass door, ensuring high visibility and attracting significant foot traffic day and night. The ground floor offers 1,886 square feet, including dedicated storage areas. The layout is flexible, adaptable to various uses including restaurants, bars, medical offices, or other retail businesses. While currently unvented, the landlord is receptive to tenant improvement proposals. This Class A property is conveniently located near the 6, E, and M subway lines and bus routes. The surrounding area is densely populated with well-regarded bars, restaurants, and high-end residential buildings, creating a strong customer base. The asking price is $10,000. This turnkey space presents a unique opportunity for a discerning business owner seeking a high-impact location in a thriving market.

    Property Features for 887 1St Ave

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    1,950 SF
    Class
    A

    Unit(s) available at that property

    Space
    Size
    1,950 SF
    Rate per SF
    $61

    HighLights

    • 1,950 SF retail space at 1st Ave & E 50th St, Manhattan's East Midtown.
    • 44' of frontage on 1st Ave with large windows & glass door for high visibility.
    • 1,886 SF ground floor plus storage; flexible layout suitable for restaurants, bars, medical, or retail.
    • Landlord open to tenant improvements (currently unvented).
    • Class A property near 6, E, & M subway lines and bus routes, in a high‑traffic area with strong demographics.
    • Asking rent: $10,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Photo By Memry Photographer

    Suggested Use

    Restaurant Realty agency Spa & Massage Hair Salon Nail Salon Food Market Dental Office Clothing Store Grocery Store Daycare Center

    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
    -73.96645536
    Latitude
    40.7538005

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    FAQs

    What type of property is this?
    Restaurant - 1950 sq ft Bar/Restaurant Space, East Midtown
    Where is this restaurant located?
    The property is located at 887 1St Ave New York, NY.
    What is the lease rate?
    The lease rate is $61 SF/Yr.
    What are key features of this property?
    This property features: 1,950 SF retail space at 1st Ave & E 50th St, Manhattan's East Midtown.; 44' of frontage on 1st Ave with large windows & glass door for high visibility.; 1,886 SF ground floor plus storage; flexible layout suitable for restaurants, bars, medical, or retail.
    Request Owner's contact information
    887 1St Ave New York, NY 10022
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    New York, NY 10022
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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
    887 1St Ave New York, NY 10022
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