1820 Madison Ave, Unit 1 New York, NY 10035-3884
- Retail space
- 6,299 SF
- 0.18 lot acres
Current Use by Public Records
- Madison Avenue Radiology Center / Medical Diagnostic Imaging Center / Medical Clinic
- Radiology / Hospital
- Lancaster Madison Associates LLC / Apartment Building
- Toasty Heating & Cooling / Hvac Contractor / Furnace Repair Service
Property Details for 1820 Madison Ave
- Year built
- 2009
- Lot size
- 0.18 lot acres
- Property size
- 6,299 SF
- Zone code
- R7-2
- Property type
- Retail space
- APN
- 01745-1201
- APU
- 17451201
Description
This exceptional investment opportunity presents a 6,566 square foot medical office condominium located at 1820 Madison Avenue in New York, NY 10035. Priced at $6,490,000, this property boasts a strong 4.66% cap rate and a substantial net operating income (NOI) of $302,336. The building, constructed in 2012, is a single-story, private commercial condominium situated on the ground floor of an eight-story mixed-use building. The property features two commercial spaces currently occupied by established office users, offering 80 feet of prime retail frontage on Madison Avenue. Both tenants have been in place since 2015 and have invested significant capital in their respective spaces. The favorable layouts provide open, mostly column-free space, and each unit includes at least one ADA-compliant bathroom. The building benefits from a 25-year tax exemption extending through 2038, significantly reducing operating costs. Almost all annual expenses are passed through to the tenants, minimizing owner expenses. The property enjoys a convenient location near the Mount Sinai Hospital campus. The leases are long-term, with a corporate guarantee providing added security. The radiology tenant holds a significant market share in Upper Manhattan, supported by a large network of referring physicians. This is a rare opportunity to acquire a stable, high-performing medical office investment in a prime Manhattan location. The property's size is 82' x 80', and each commercial unit has its own hot water heater (cost passed to the tenant).
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $190,000
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- New York
- County
- New York
- State
- New York
- Longitude
- -73.944
- Latitude
- 40.8016
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
