587 10Th Ave New York, NY 10036
- Retail properties
- 6,500 SF
Current Use by Public Records
- Rita Panahi, L.Ac. / Acupuncture Clinic / Chinese Medicine Clinic
- Romain Corp. / Jewelry Store
- Rani Spa New York / Nail Salon / Beauty Salon
- Onfi Hair Salon / Hair Salon
Property Details for 587 10Th Ave
- Year built
- 1988
- Property size
- 6,500 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional retail property, located at 587 Tenth Avenue in New York, NY 10036, presents a unique investment opportunity. The single-story, 6,500 square foot building, constructed in 1988, features six retail units currently under a modified lease agreement with multiple tenants. The property sits on a 5,200 square foot lot (100' x 52') and is zoned C6-4. The building is a retail condominium with a ground lease in place. The property boasts a long-term ownership history and is currently fully leased. The 2023 assessed value is $1,278,000, with property taxes totaling $138,000 for the same year. This prime location, near the intersection of West 42nd and 43rd Streets (Block/Lot 1071/1002), offers significant potential for future growth and income. The property's strong tenancy and established lease structure provide a stable investment with considerable upside. This is a rare opportunity to acquire a well-maintained, fully leased retail property in a highly desirable New York City location.
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
- -73.9955
- Latitude
- 40.76
