48 39Th St New York, NY 10018
- Land
- 3,000 SF
Current Use by Public Records
- American Barber Institute / Barber Shop / Barber School
Property Details for 48 39Th St
- Property size
- 3,000 SF
- Property type
- Land
Description
This exceptional commercial land offering presents a unique investment opportunity in the heart of Manhattan, at 48 West 39th Street, between 5th and 6th Avenues. The 3,000 square foot lot boasts a 16-20 foot ceiling height, providing ample space for a variety of commercial developments. Located in the vibrant New York County (Manhattan), zip code 10018, this property benefits from exceptional visibility and accessibility. The property's central location offers unparalleled convenience and exposure to a high volume of foot traffic and potential clientele. This is a rare chance to acquire a substantial piece of land in one of the world's most sought-after commercial real estate markets. The property is currently improved with an established barbering school, offering a potential for continued operation or redevelopment. The school itself has a long-standing history, spanning over 40 years, with a proven track record of success and a strong annual gross income of $1.2 million. The existing lease agreement has 7 years remaining at a monthly cost of $17,000. The school is fully licensed and certified by the New York State Department of Education, offering a comprehensive Master Barber Program. The business includes a team of 5 experienced teachers and 5 administrators, providing a solid foundation for continued growth and profitability. The current owner is willing to assist with a smooth transition for the new owner. This property is priced at $999,999. Don't miss this chance to acquire a piece of Manhattan's thriving commercial landscape.
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 (Manhattan)
- State
- New York
- Longitude
- -73.9846
- Latitude
- 40.7523
