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    243 58Th St New York, NY 10022

    For Sale
    Contact for pricing

    Renovated 4,160 SF, 5 Units, NNN Lease

    Property size:
    4,160 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional mixed-use building at 243 E 58th St in New York City presents a unique investment opportunity. Boasting 4,160 square feet across four stories, this property underwent a complete renovation in 2023. The building features five units, including a thriving, newly renovated Michelin-style Korean BBQ restaurant, Nubiani Korean BBQ, operating under a triple-net (NNN) lease. Four additional free-market units provide further income potential and flexibility. Constructed in 1912, this building benefits from its prime location in the heart of Manhattan, zip code 10022, within New York County. The permitted zoning is versatile, encompassing R8B, C2-8, and TA/8c classifications, allowing for a range of potential uses and future development options. The property's strong tenant occupancy and recent renovation ensure immediate cash flow and long-term value appreciation. This is an ideal acquisition for investors seeking a stable, high-return investment in a highly desirable New York City location. The building's solid construction and updated amenities combine to create a compelling offering in a vibrant and sought-after neighborhood. This is a rare opportunity to own a piece of New York City real estate with significant upside potential.

    Property Features for 243 58Th St

    General Information

    Property type
    Mixed-use properties
    Square Feet
    4,160 SF

    Building Details

    Year Built/Renovated
    1912/2023
    Buildings
    1
    Stories
    4
    Units
    5
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Gori Asian Restaurant Nubiani Korean Barbecue Restaurant Anto Korean Steak ... Restaurant

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    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
    -73.9651449
    Latitude
    40.7603351

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    FAQs

    What type of property is this?
    Mixed-use property - Renovated 4,160 SF, 5 Units, NNN Lease
    Where is this mixed-use property located?
    The property is located at 243 58Th St New York, NY.
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    243 58Th St 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
    243 58Th St New York, NY 10022
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