315 46th St New York, NY 10017-3028

Property Details for 315 46th St

Year built

2018

Lot size

0.17 lot acres

Property size

50,143 SF

Zone code

C1-9

Property type

Office buildings

APN

01339-0010

APU

13390010

Description

This exceptional mixed-use property at 315 W 46th St, New York, NY 10036, presents a compelling investment opportunity. The 3-story, 3,539 square foot building, constructed in 1910, sits on a 2,010 square foot lot and boasts a 100% occupancy rate, generating substantial income. The property features six units, including a ground floor restaurant and five residential units (one studio, one alcove studio, two studios, and one alcove studio). The current annual gross income is $436,416, with annual expenses totaling $121,884, resulting in a Net Operating Income (NOI) of $314,532 and a 3.49% cap rate. The asking price is $9,000,000, translating to $2,543.09 per square foot and $1,500,000 per unit. The lease type is NNN (Net, Net, Net), and the property is classified as Class B. This is a rare chance to acquire a well-established, income-producing asset in a highly desirable Manhattan location. The detailed breakdown of income includes a restaurant generating $28,000 annually and residential units ranging from $1,600 to $2,295 per month. Annual expenses include property taxes ($99,393), water and sewer ($2,400), insurance ($4,215), superintendent fees ($4,800), and electricity ($2,400). This property offers a stable and lucrative investment with significant potential for future growth.