306 13Th St New York, NY 10014

Property Details for 306 13Th St

Property size

2,478 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional investment opportunity presents a vacant, 2,478-square-foot restaurant space at 306 West 13th Street in New York, NY 10014. Located in the vibrant West Village, bordering the Meatpacking District, this property offers a prime retail location with approximately 22 feet of frontage on West 13th Street. The space features 10'6" ceiling heights and includes both ground floor and basement levels, each approximately 1,239 square feet. The property is situated in a mixed-use cooperative building, benefiting from a strong co-tenancy with a diverse range of high-end retailers, bars, restaurants, and cafes, including notable names such as LaserAway, Marni, Starbucks, Zimmerman, Hermes, Sweetgreen, Theory, and Restoration Hardware. The area boasts high residential density and proximity to newly developed Class A office buildings, ensuring a robust customer base. Convenient access to multiple subway lines (1, 2, 3, A, C, E, and L) further enhances its appeal. This value-add opportunity offers a pro-forma NOI of $173,000 and a pro-forma cap rate of 7.33%, making it an attractive investment for both users and investors seeking to capitalize on this desirable location. All uses are considered. The asking price is $2,360,000. Low annual property expenses contribute to the strong financial performance potential.