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    1980 2Nd Ave New York, NY 10029
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    1980 2Nd Ave New York, NY 10029

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    • Mixed-use properties
    • 50,000 SF
    For Sale
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    Harlem Mixed-Use Portfolio Opportunity For Sale
    Contact for pricing
    50,000 SF

    Harlem Mixed-Use Portfolio Opportunity

    Four mixed-use properties in East Harlem with significant development potential.

    1980 2nd Ave, New York, NY 10029
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    Property ID
    US63-0793321
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • 102 Family Organic Deli / Food Market / Restaurant
    • HARROW CONSTRUCTION & MANAGEMENT SERVICES INC. / General Contractor / Construction Company
    • 1980 Gourmet Deli / Specialty Food Shop
    • Harlem Heirloom / Home Decor Store

    Property Details for 1980 2Nd Ave

    Property size
    50,000 SF
    Property type
    Mixed-use properties
    Property subtype
    Multifamily properties

    Description

    Introducing the Harlem 2nd Ave Portfolio, a remarkable collection of four mixed-use properties located in the heart of East Harlem in New York City. These properties, situated at 1968, 1978, 1980, and 1982 2nd Ave, present an exceptional development opportunity or investment option. With a total area of over 50,000 square feet encompassing both residential and commercial spaces, this portfolio offers immense potential. Furthermore, the Harlem 2nd Ave Portfolio comes with an additional advantage - over 58,000 square feet of unused air rights, enabling further expansion and development possibilities. Immerse yourself in the vibrant atmosphere of this sought-after neighborhood, as these properties are conveniently situated within walking distance of parks, markets, bars, and restaurants. Don't miss out on this exceptional chance to own a piece of Harlem's dynamic landscape and diverse culture. New developments in the immediate area, as the possibilities seem endless. There isn’t just one or two but a collection of 11 sites, in our brochure, that will show the future potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9442537
    Latitude
    40.7878307

    Comparable in this City

    • $1,800,000

      East Harlem Mixed-Use Building

      Four-story mixed-use building in East Harlem with development potential.
      352 E 116Th St, New York, NY 10029
      View Details
    • Contact for pricing
      4,500 SF

      East Harlem Mixed-Use Investment

      Four-unit building with retail, commercial, and residential spaces.
      151 E 116Th St, New York, NY 10029
      View Details

    Similar Nearby for Sale

    • $1,800,000

      East Harlem Mixed-Use Building

      Four-story mixed-use building in East Harlem with development potential.
      352 E 116Th St, New York, NY 10029
      View Details
    • Contact for pricing
      4,500 SF

      East Harlem Mixed-Use Investment

      Four-unit building with retail, commercial, and residential spaces.
      151 E 116Th St, New York, NY 10029
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Upper East Side Mixed-Use Property

      Mixed-use property in Manhattan's Upper East Side with spaces available.
      1590 Madison Ave, New York, NY 10029
      View Details
    • Contact for pricing

      Lexington Avenue Commercial Space

      Commercial space available for lease on Lexington Avenue.
      1677 Lexington Ave, New York, NY 10029
      View Details
    • Contact for pricing
      2,662 SF

      Madison Avenue Retail Space

      Retail space available on Madison Avenue.
      1411 Madison Ave, New York, NY 10029
      View Details
    • Contact for pricing
      700 SF

      Second Generation Cafe Space

      Turn-key cafe space with kitchen equipment and heavy foot traffic.
      155-159 E 103Rd St, New York, NY 10029
      View Details
    • Contact for pricing
      1,500 SF

      Equipped Corner Store with Bakery

      Fully equipped corner store with vented kitchen and gas service.
      1565 Lexington Ave, New York, NY 10029
      View Details
    • Contact for pricing

      Commercial Space for Lease

      Commercial space available for lease in New York, NY.
      1955 1St Ave, New York, NY 10029
      View Details
    View Listing
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    New York, NY 10029
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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