266 23Rd StNew York, NY 10011

Property Details for 266 23Rd St

Year built

2020

Property size (Sq ft)

1,500 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This 1,500 sq ft storefront in New York City's Chelsea neighborhood (266 W 23rd St, zip 10011) is available for sale via a sale/leaseback agreement. The property, built and renovated in 2020, features a single-story, 1,500 sq ft building on a 1,500 sq ft lot, zoned R5. Currently operating as a thriving threading salon with a 10-year lease (7 years remaining), the property boasts a 100% occupancy rate and a strong NOI of $100,000, resulting in an impressive 80% cap rate. The lease is NNN with a 3% annual rent bump and is assignable. The tenant has no credit rating. The salon itself includes six threading chairs, one hair washing station, two private treatment rooms, and an additional esthetician chair. The asking price is $125,000, representing a land value of $6,100/sq ft. This presents a unique opportunity to acquire a high-performing, established business in a prime location with significant upside potential. The property's strategic location ensures high foot traffic and excellent visibility, making it an ideal investment for a savvy buyer seeking a strong return on investment. The convenient location near transportation hubs further enhances its appeal. This is a fee simple ownership opportunity.

Location Insight

City

New York

County

New York

State

New York

Latitude

40.745

Longitude

-73.9982

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