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    889 1St Ave New York, NY 10022

    For Lease
    $960 /Mo

    Prime NYC location, high foot traffic, flexible space.

    Lot size:
    1,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional 1,886 square foot retail space, located at 889 1st Avenue in New York City's Midtown East neighborhood, presents a unique investment opportunity. Boasting 44 feet of frontage on First Avenue, this corner property benefits from high visibility and substantial foot traffic throughout the day and night. The space features oversized glass windows and a glass door, maximizing natural light and showcasing the interior. Currently configured as a bar, the layout is highly adaptable and suitable for a variety of uses, including restaurants, medical offices, or other retail businesses. The ground floor includes convenient storage areas. While not currently vented, the landlord is receptive to tenant improvement proposals. This turn-key property is ideally situated near respected bars, restaurants, and high-end residential buildings, ensuring a thriving customer base. Excellent public transportation access is provided via the 6, E, and M subway lines and numerous bus routes. The asking price is $10,000 (Note: The provided price requires clarification as it seems unusually low for a property of this size and location). This property offers a rare chance to establish a successful business in a highly desirable area of Manhattan.

    Property Features for 889 1St Ave

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    1,500 SF
    Total Rate
    960

    Unit(s) available at that property

    Space
    Size
    1,500 SF
    Rate per SF
    $960
    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
    -73.9664906
    Latitude
    40.7538009

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    FAQs

    What type of property is this?
    Retail property - Prime NYC location, high foot traffic, flexible space.
    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 $960 /Mo.
    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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