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5 Eldridge St New York, NY 10002

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High-potential, 14-unit investment property

Property size:
8,768 SF

Property Features for 5 Eldridge St

General Information

Property type
Mixed-use properties
Square Feet
8,768 SF

Building Details

Year Built
1900
Buildings
1
Stories
6
Units
14

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Listing Contact
Ilya Kulichkin
Ilya Kulichkin

Listing Agency: eXp Realty Listing Agent: Ilya Kulichkin

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Property Insight Report

Overview

This exceptional mixed-use building at 5 Eldridge Street, New York, NY 10002, offers a compelling value-add opportunity. The 6-story, 8,768 square foot property, built in 1900, sits on a 1,950 square foot lot and boasts 3,330 square feet of air rights. Currently configured as six commercial and eight residential units with 72% occupancy, the building generates a current NOI of $151,000 and a pro-forma NOI of $290,000, representing a 1.89% cap rate and a pro-forma cap rate of 3.62%. The asking price is $8,000,000, or $571,428.57 per unit, and $912.41 per square foot. The property benefits from a prime Lower East Side location, near the intersection of Chinatown, the Bowery, and Two Bridges, with high foot traffic and excellent access to public transportation. Recent commercial tenants include art galleries and a motorcycle shop. Significant upside potential exists through piecemeal renovations or a larger-scale development project, including the addition of bedrooms in residential units and expansion of commercial space. The building's unobstructed views and proximity to the Manhattan Bridge provide lasting appeal. The property has a rich history, having been home to notable artists and serving as a filming location for a television show. Financial details and video tours are available upon request. The permitted zoning is C6-1G.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Contractor Construction NYC Construction Company China Employment Agency Employment Agency New World Employment ... Employment Agency Jobs Employment Agency Shing Tao Employment ... Employment Agency

Suggested Use

Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience 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
-73.9940229
Latitude
40.7145877

FAQs

What type of property is this?
Mixed-use property - High-potential, 14-unit investment property
Where is this mixed-use property located?
The property is located at 5 Eldridge St New York, NY.
What is the asking price?
The asking price for this property is $8,000,000.
What are key features of this property?
This property features: Exceptional Value-Add Potential; Stable, Long-Term Mixed-Use Investment; Strong Foundation; 40+ Years of Single Ownership
(561) 777-5227 Call to check price and availability
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