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    8 48Th St New York, NY 10017

    For Lease
    $2,028 /Mo

    Upscale NYC restaurant space, 2140 sq ft.

    Lot size:
    2,140 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional 2,140 square foot retail space, located at 8 E 48th St in New York, NY 10017, presents a unique opportunity. Currently configured as a restaurant/cafe, this single-tenant property boasts 25 feet of frontage and offers a versatile layout. The main level encompasses approximately 2,140 square feet, while a sizable 1,500 square foot lower level provides ample cold storage and prep/storage areas. The space is fully vented and equipped with HVAC and a gas line, ensuring efficient operation. Previous tenants successfully utilized sidewalk seating, a feature readily available to future occupants. The property benefits from a prime location, adjacent to a newly opened boutique hotel, promising high foot traffic and visibility. The partially built-out interior offers a head start for prospective tenants, minimizing initial setup costs. Note that the listed rate may not include certain utilities, building services, and property expenses. This is an ideal location for a discerning restaurateur or cafe owner seeking a well-appointed space in a thriving New York City neighborhood. The property is situated in New York County.

    Property Features for 8 48Th St

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    2,140 SF
    Total Rate
    2028

    Unit(s) available at that property

    Space
    Size
    2,140 SF
    Rate per SF
    $2,028

    HighLights

    • 2,140 SF retail space at 8 E 48th St, New York, NY 10017.
    • Single‑tenant property, previously a restaurant/cafe, with 25' of frontage.
    • Features a 1,500 SF lower level for storage and prep areas; fully vented with HVAC and gas line.
    • Allows for sidewalk seating and benefits from high foot traffic due to adjacent boutique hotel.
    • Partially built‑out interior minimizes tenant improvement costs.
    Property Profile Location Intelligence

    Current Use by Public Records

    Psychic on 5th Ave Psychic Psychic Readings Midtown Psychic Apollo Business Administration Service Benny John's Bar ... Bar & Grill Psychic of 5th ave 🔮 Psychic

    Suggested Use

    Restaurant Realty agency Spa & Massage Hair Salon Nail Salon Dental Office Food Market Grocery Store Daycare Center Pharmacy

    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
    -73.9774474
    Latitude
    40.7568173

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    FAQs

    What type of property is this?
    Retail property - Upscale NYC restaurant space, 2140 sq ft.
    Where is this retail property located?
    The property is located at 8 48Th St New York, NY.
    What is the lease rate?
    The lease rate is $2,028 /Mo.
    What are key features of this property?
    This property features: 2,140 SF retail space at 8 E 48th St, New York, NY 10017.; Single-tenant property, previously a restaurant/cafe, with 25' of frontage.; Features a 1,500 SF lower level for storage and prep areas; fully vented with HVAC and gas line.
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    8 48Th St New York, NY 10017
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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
    8 48Th St New York, NY 10017
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