7 Chatham Sq New York, NY 10038
- Retail space
- 154 SF
- 0.15 lot acres
Current Use by Public Records
- Tin Sun Metaphysics Corporation / Alternative Medicine Practitioner
- Ivan Lee, DDS / Dentist
- Christina Tsim Dpm / Podiatrist
- Aung Zaw MD / Internist
- Barry C Schneps Law Office / Attorney
Property Details for 7 Chatham Sq
- Year built
- 1920
- Lot size
- 0.15 lot acres
- Property size
- 154 SF
- Zone code
- C61G
- Property type
- Retail space
- APN
- 00162-1056
- APU
- 1621056
Description
This exceptional 600-square-foot commercial condo, located at 7 Chatham Square C5 in New York City's vibrant Chinatown (zip code 10038), presents a lucrative investment opportunity. Situated within a larger eight-story building, this single-unit property boasts a spacious layout with 11-15 foot ceilings, ideal for a variety of uses. Currently generating approximately $3,000 in monthly rental income, the potential for increased revenue exists through separate leasing of the space. Further income streams are derived from mailbox rentals, encompassing 120 small ($50 annual fee), 32 medium ($75 annual fee), and 4 large ($100 annual fee) boxes. The property's 7,750-square-foot lot provides ample space, and its central Chinatown location offers high visibility and foot traffic, making it suitable for both professional office use and retail operations. This turnkey investment is perfect for entrepreneurs seeking a profitable venture in a thriving New York City neighborhood. The asking price for this remarkable property is $460,000. This is a package deal that includes units C6 and C7, totaling 600 square feet of commercial condo space.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $205,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $290,000
- 6.5%
- $335,000
- 7%
- $300,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $295,000
- Geo Method
- $270,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $315,000
- Retail
- $300,000
- Mixed-Use
- $270,000
- Hospitality
- $305,000
- Educational
- $330,000
- Residential Income
- $285,000
- Energy
- $305,000
- Income-Based Land
- $320,000
- Food Service
- $280,000
Location Insight
- Map
- Local Demand
- City
- New York
- County
- New York
- State
- New York
- Longitude
- -73.9982
- Latitude
- 40.714
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
