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    151 116Th St New York, NY 10029

    Sponsored
    For Sale
    $2,350,000

    Prime Retail, Residential, Value-Add

    Property size:
    4,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This four-story, 4,500 square foot mixed-use building in East Harlem, New York, presents a compelling investment opportunity. The property features ground floor retail space with a basement, a second-floor commercial unit open to the ground floor, and two upper-floor residential units. Located just 75 feet from the 6 train (Green Line) at 116th Street and Lexington Avenue, it benefits from high pedestrian traffic and strong retail co-tenancy, including Dunkin'/Baskin-Robbins, Domino's, Wings Plus, Burger King, and Popular Bank. The double-height glass storefront maximizes signage visibility. The asking price is $2,350,000, with a pro-forma NOI of $179,223 and a 7.63% pro-forma cap rate. The property is zoned R9, C2-5 and includes approximately 5,834 square feet of air rights, offering significant potential for future development or expansion. This is an ideal opportunity for an owner-user or value-add investor seeking a prime location in a thriving East Harlem retail corridor. The building sits on a 1,360 square foot lot. This unique property offers a blend of retail, commercial, and residential uses, making it a versatile and attractive investment.

    Property Features for 151 116Th St

    General Information

    Property type
    Individual retail properties
    Square Feet
    4,500 SF

    Building Details

    Units
    4

    HighLights

    • $2,350,000 asking price for a 4,500 square foot mixed‑use building.
    • Four‑story building with ground floor retail (including basement), second‑floor commercial space, and two upper residential units.
    • Excellent location, 75 feet from the 6 train (Green Line) at 116th Street & Lexington Avenue.
    • Strong retail co‑tenancy including Dunkin'/Baskin‑Robbins, Domino's, Wings Plus, Burger King, and Popular Bank.
    • High‑traffic East Harlem location with double‑height glass storefront for optimal signage.
    Property Profile Location Intelligence

    Current Use by Public Records

    Rubio Record Dstrbtng Musical Instrument Store OverSeas Courier Company Courier Service

    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
    -73.941231367575
    Latitude
    40.798564812008

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    FAQs

    What type of property is this?
    Individual retail property - Prime Retail, Residential, Value-Add
    Where is this individual retail property located?
    The property is located at 151 116Th St New York, NY.
    What is the asking price?
    The asking price for this property is $2,350,000.
    What are key features of this property?
    This property features: $2,350,000 asking price for a 4,500 square foot mixed-use building.; Four-story building with ground floor retail (including basement), second-floor commercial space, and two upper residential units.; Excellent location, 75 feet from the 6 train (Green Line) at 116th Street & Lexington Avenue.
    Request Owner's contact information
    151 116Th St New York, NY 10029
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    New York, NY 10029
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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
    151 116Th St New York, NY 10029
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