1875 Lexington Ave New York, NY 10035
- Retail properties
- 29,975 SF
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
- 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 Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- New York
- County
- New York
- State
- New York
- Longitude
- -73.9412
- Latitude
- 40.799
