151 116Th St New York, NY 10029
- Retail residential properties
- 4,386 SF
- 0.03 lot acres
Current Use by Public Records
- Rubio Record Dstrbtng / (Bike/Boat/Book/etc) Store
- OverSeas Courier Company / Courier Service / Postal Service
Property Details for 151 116Th St
- Year built
- 1910
- Lot size
- 0.03 lot acres
- Property size
- 4,386 SF
- Zone code
- R9
- Property type
- Retail residential properties
- APN
- 01644-0122
- APU
- 16440122
Description
This four-story, 4,500 square foot mixed-use building in East Harlem, New York, presents a compelling investment opportunity. The property features ground floor retail space with a basement, a second-floor commercial unit open to the ground floor, and two upper-floor residential units. Located just 75 feet from the 6 train (Green Line) at 116th Street and Lexington Avenue, it benefits from high pedestrian traffic and strong retail co-tenancy, including Dunkin'/Baskin-Robbins, Domino's, Wings Plus, Burger King, and Popular Bank. The double-height glass storefront maximizes signage visibility. The asking price is $2,350,000, with a pro-forma NOI of $179,223 and a 7.63% pro-forma cap rate. The property is zoned R9, C2-5 and includes approximately 5,834 square feet of air rights, offering significant potential for future development or expansion. This is an ideal opportunity for an owner-user or value-add investor seeking a prime location in a thriving East Harlem retail corridor. The building sits on a 1,360 square foot lot. This unique property offers a blend of retail, commercial, and residential uses, making it a versatile and attractive investment.
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Location Insight
- Map
- Local Demand
- City
- New York
- County
- New York
- State
- New York
- Longitude
- -73.9412
- Latitude
- 40.7987
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
