Renovated Mixed-Use Building For
For Sale
Contact for pricing
W 54th St New York NY, New York, NY 10019
Elevated building with apartments, retail space, and redevelopment potential.
Property Size15,000 SF
Price / SF$666.67
Days on Market804
Property Features for W 54th St New York NY
General Information
Standard status
Active
Size
15,000 SF
Class
B
Property subtype
Mixed Use
Zoning
C5-P, MiD i
Occupancy
100%
Lease Type
Gross
Investment Type
Owner/User
Net Operating Income
$600,000
Building Details
Year Built
1915
Year Renovated
2023
Buildings
1
Stories
5
Units
7
Tenancy
Multi
Listing Agency:
Simon Lou / Hotel Real Estate Group
Listed By:
Simon Lou · License #NY10311206078
Source:
Crexi
Added: Aug 9, 2024
Changed: Oct 6
Last Checked: Oct 20 at 9:25PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Simon Lou / Hotel Real Estate Group
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Investment Insights
Based on property information with market context.
This newly renovated elevated building features a mix of residential and commercial spaces. The property includes six studio apartments and one retail store. The building benefits from new electrical and plumbing systems. Additionally, the property has 7400 square feet of air rights available for redevelopment. The annual income from the apartments is $324,000, calculated from a monthly rent of $4500 per unit. The annual income from the restaurant retail space is $300,000, based on a monthly rent of $25,000. The total rental income is $500,000, with a net income of $300,000. The property size is 15000 square feet.
Key Highlights
- High annual net income of $300,000
- Total annual rental income of $500,000
- Includes a store with substantial annual income ($300,000)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$478,125
Cap Rate
4.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,562,500
$9.6M
Cap Rate 7%
$6,830,357
$6.8M
Cap Rate 9%
$5,312,500
$5.3M
Market Conditions
NOI Build-Up for 15,000 SF
Gross rent
$900.0K $60.00/SF
− Vacancy
−$135.0K −$9.00/SF
EGI
$765.0K $51.00/SF
− OpEx
−$286.9K −$19.13/SF
NOI
$478.1K $31.88/SF
Area
New York, NY
Vacancy
15.00%
Lease Rate
$60.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,562,500
Cap Rate 7%
$6,830,357
Cap Rate 9%
$5,312,500
Alternative Uses
Best Use
Mixed Use
$6.83M
$5.98M – $7.97M
NOI $478,125 @ 7.0% cap · market cap 4.78%
Second Best
Apartment 5plus
$6.70M
$5.87M – $7.82M
NOI $469,310 @ 7.0% cap · market cap 4.69%
Theoretical Best
Specialty Retail
$37.34M
$32.67M – $43.56M
NOI $2,613,600 @ 7.0% cap · market cap 26.14%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
37,284
Businesses Nearby
Explore this area
Business Placement
Demographics for 10019, NY
49,029
Population
33,279
Households
1.5
Avg Household Size
38
Median Age
78%
College-Educated
98%
High-School Grad
0.7 sq mi
ZIP Area
70,041
Density / Sq Mi
$121,835
Median Household Income
$108,231
Median Earnings
$2,619
Median Rent
$1,066,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Elevated building with apartments, retail space, and redevelopment potential.
Where is this mixed-use property located?
The property is located at W 54th St New York NY New York, NY.
What is the asking price?
The asking price for this property is $10,000,000.
What are key features of this property?
This property features: High annual net income of $300,000; Total annual rental income of $500,000; Includes a store with substantial annual income ($300,000)
