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    889 1St Ave New York, NY 10022

    For Lease
    $60,000

    520 SF Turn-Key Retail, High Traffic

    Lot size:
    520 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional 520-square-foot retail space is ideally situated in the vibrant Midtown East neighborhood of New York City, at 889 1st Avenue, zip code 10022. Boasting 26 feet of frontage on 1st Avenue, the ground-floor location benefits from three large windows and a glass door, maximizing visibility and natural light. The space has undergone a complete renovation by the previous tenant, offering a flexible, turn-key solution for prospective businesses. High foot traffic is guaranteed, day and night, thanks to its prime location amidst well-regarded bars, restaurants, and upscale residential buildings. Its proximity to the United Nations further enhances its appeal. Convenient public transportation access is provided by the 6, E, and M subway lines, as well as the First Avenue bus route. This single-tenant property presents a unique opportunity to establish a thriving business in one of Manhattan's most sought-after commercial districts. The property is located in New York County.

    Property Features for 889 1St Ave

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    520 SF
    Total Rate
    60000

    Unit(s) available at that property

    Space
    Size
    520 SF
    Rate per SF
    $60,000
    Property Profile Location Intelligence

    Current Use by Public Records

    ACCEA New York ... Digital Printing Service Ching Cleaning & Laundry Dry Cleaner

    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?
    Retail property - 520 SF Turn-Key Retail, High Traffic
    Where is this retail property located?
    The property is located at 889 1St Ave New York, NY.
    What is the lease rate?
    The lease rate is $60,000.
    Request Owner's contact information
    889 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
    889 1St Ave New York, NY 10022
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