Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1875 Lexington Ave New York, NY 10035
    Property profile & analytics

    1875 Lexington Ave New York, NY 10035

    View on Map
    • Retail properties & Spaces
    • 29,975 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Aventine Rx / Pharmacy
    • Nikol Borits, Pharm / Pharmacy
    • Healthy Harlem RX Pharmacy / Pharmacy
    • Jennifer Haley / Pharmacy
    • Pharmacy / Pharmacy

    Property Details for 1875 Lexington Ave

    Property size
    29,975 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Mixed-use properties

    Description

    This exceptional mixed-use property at 1875 Lexington Avenue in New York, NY 10035 presents a compelling investment opportunity. The six-story building boasts 29,975 square feet on a 6,030 square foot lot, offering a blend of retail and residential space. The asking price is $13,900,000, translating to $464 per square foot and $386,111 per unit. The property features 36 units, with 22 of the 30 residential units operating on a free-market basis, exhibiting strong rental income and potential for future growth. The majority of apartments are two- and three-bedroom units. Currently, six retail tenants occupy the commercial space, generating consistent revenue. The building benefits from over $60,000 in annual commercial tax reimbursements, minimizing operational costs. Deferred maintenance is minimal, and all free-market apartments have undergone recent renovations. Its strategic location, just one block from the vibrant retail corridor of 116th Street and a block from the 6 train, ensures high visibility and accessibility. The property is zoned R7D/EHC

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9412
    Latitude
    40.799

    Comparable in this City

    • Value Estimation by Request
      35,624 SF

      2033 5Th Ave

      Retail properties & Spaces • 35,624 SF
      2033 5Th Ave, New York, NY 10035
      View Details
    • Value Estimation by Request
      1,682 SF

      329 118Th St

      Mixed-use properties • 1,682 SF
      329 118Th St, New York, NY 10035
      View Details
    • Value Estimation by Request
      12,164 SF

      502 118Th St

      Multifamily properties • 12,164 SF
      502 118Th St, New York, NY 10035
      View Details
    • Value Estimation by Request
      200 SF

      1876 Lexington Ave

      Retail properties & Spaces • 200 SF
      1876 Lexington Ave, New York, NY 10035
      View Details
    • Value Estimation by Request
      23,955 SF

      1856 Park Ave

      Retail properties & Spaces • 23,955 SF
      1856 Park Ave, New York, NY 10035
      View Details
    • Value Estimation by Request
      4,500 SF

      2172 3Rd Ave

      Office properties & Spaces • 4,500 SF
      2172 3Rd Ave, New York, NY 10035
      View Details

    Similar Nearby for Sale

    • $1,250,000
      Pending

      East Harlem Mixed-Use Building

      Multi-use building in East Harlem with residential and commercial units.
      2056 Madison Avenue Brg, New York, NY 10035
      View Details
    • Contact for pricing
      23,310 SF

      South Harlem Mixed-Use Building

      Six-story building with apartments and retail in vibrant Harlem.
      1469 5Th Ave, New York, NY 10035
      View Details
    • Contact for pricing
      3,612 SF

      East Harlem Mixed-Use Investment

      Four-unit building with retail, commercial, and residential spaces.
      1873 Lexington Ave, New York, NY 10035
      View Details
    • $3,200,000

      East Harlem Mixed-Use Building

      Mixed-use building with retail and residential units in East Harlem.
      2263 2Nd Ave, New York, NY 10035
      View Details
    • $8,995,000
      14,500 SF

      East Harlem Commercial Property Opportunity

      Sprawling commercial property in prime East Harlem location.
      2252 3Rd Ave, New York, NY 10035
      View Details
    • $4,850,000

      East Harlem Mixed-Use Building

      Mixed-use building with commercial and residential units in Manhattan.
      1674 Park Avenue, New York, NY 10035
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,199 SF

      Mixed-Use Property in Harlem

      Three-level mixed-use property with retail and residential components.
      158 E 126Th St, New York, NY 10035
      View Details
    • Contact for pricing
      1,210 SF

      Former Restaurant Space Available

      Restaurant space with utilities and ventilation in place, excellent visibility.
      145 E 125Th St, New York, NY 10035
      View Details
    • Contact for pricing

      Retail Space on East 118th

      Retail space available between First and Pleasant Avenues.
      402 East 118Th St, New York, NY 10035
      View Details
    • $4,600 /Mo

      East Harlem Storefront on 2nd Avenue

      Prime retail space in East Harlem with high visibility.
      2296 2Nd Ave, Manhattan, NY 10035
      View Details
    • New
      $5,500 /Mo

      Prime Retail Space in Manhattan

      Ground floor retail space in high-traffic, dense residential area.
      2413 2Nd Ave, Manhattan, NY 10035
      View Details
    • Contact for pricing
      7,500 SF

      Versatile Space Near Transportation

      25,000 SF available for lease near transportation.
      220-226 E 117Th St, New York, NY 10035
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1875 Lexington Ave
    New York, NY 10035
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1875 Lexington Ave, New York, NY, 10035
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!