Current Use by Public Records
- ME+EM / (Bike/Boat/Book/etc) Store
Property Details for 111 Mercer St
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This exceptional 4,089 square foot retail condominium, located at 111 Mercer Street in the heart of SoHo, presents a compelling investment opportunity. Currently 100% occupied by ME + EM, a luxury fashion brand, under a lease expiring August 2028, this property offers secure in-place income and a strong 6.15% cap rate, generating a net operating income (NOI) of $415,079. The two-story space boasts 2,148 square feet at grade and an additional 1,941 square feet on the lower level. Features include a brand-new 2024 build-out with state-of-the-art features and high-end finishes, wood-framed windows, original cast-iron columns, 12.5-foot ceilings on the ground floor, and abundant natural light from glass windows and a skylight. Situated between Prince and Spring Streets, this property benefits from high foot traffic and proximity to other upscale shops and restaurants. The building is zoned M1-5/R7X and includes one seat on a three-member condo board. Convenient access to multiple subway lines (N, R, W, B, D, F, M, 4, 6) further enhances its appeal. The asking price is $6,750,000.
Value Estimations
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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
- -73.9993
- Latitude
- 40.7238
