280 Park AveNew York, NY 10010
- Office properties
- 386,166 SF
Property Details for 280 Park Ave
- Year built
- 1962
- Lot size
- 0.57 AC
- Property size (Sq ft)
- 386,166 SF
- Zone code
- C5-3
- Property type
- Office properties
- Property subtype
- Office buildings
- APN
- 01284-0033
- APU
- 12840033
Description
This exceptional turnkey restaurant opportunity is located in the highly desirable Gramercy Park neighborhood of New York City, within the Flatiron submarket cluster. The property, situated at 280 Park Avenue South, zip code 10010, boasts a substantial 14,000 square feet of space, ideal for a variety of culinary and entertainment ventures. Currently configured as a single-tenant restaurant, the space is ready for immediate occupancy, eliminating the need for extensive renovations. Key features include high ceilings, contributing to a spacious and impressive atmosphere, and a fully vented kitchen, equipped to handle high-volume food preparation. The property's prime location in Gramercy Park ensures high visibility and foot traffic, attracting a diverse clientele. The monthly rent is $233,000. This is a rare chance to acquire a well-established, fully operational restaurant in one of Manhattan's most sought-after neighborhoods. The property's historic character adds to its unique appeal, offering a blend of classic charm and modern functionality. This turnkey operation presents a significant opportunity for an experienced restaurateur or investor seeking a profitable venture in a vibrant and dynamic location. The property is classified as a Restaurant and Special Purpose property.
Valuation
by Realmo methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $63,844,776
- 6.5%
- $58,933,640
- 7%
- $54,724,092
-
Comparable approach
- Method
- Valuation
- Relative Method
- $50,456,448
- Geo Method
- $50,456,448
-
Alternative Use
- Use
- Valuation
- Residential
- $73,077,712
- Hospitality
- $66,938,792
- Educational
- $55,692,288
- Medical
- $57,607,632
- Retail
- $86,632,448
Location Insight
- City
- New York
- County
- New York
- State
- New York
- Latitude
- 40.7564
- Longitude
- -73.9751
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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