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    OFF-MARKET
    Commercial real estate

    224 1St Ave, New York, NY 10009

    34,703 SF Built 1911
    Property ID
    US63-3983626
    Property summary
    AI-generated overview

    This exceptional retail opportunity is located at 224 First Avenue, on the corner of 14th Street in the vibrant East Village of New York City. The property consists of two buildings, totaling 34,703 square feet, situated on a 12,821 square foot lot. Built in 1911 and renovated in 1984, the five-story structure offers a unique blend of historical charm and modern functionality. Currently configured as a single-tenant space, the property is zoned C1-7A, providing flexibility for a variety of retail uses. The building does not have elevators. The location boasts exceptional foot and vehicular traffic, benefiting from its proximity to a large residential population exceeding 5,000,000 residents and an adjacent complex with over 11,000 units. The high ceilings (7'1") offer ample space for creative retail design. This is a rare chance to secure a prime retail space in one of Manhattan's most sought-after neighborhoods. The asking rent is $8,500 per month. This property is currently awaiting vacancy.

    Property profile
    Verified
    Property type Commercial real estate
    Year built 1911
    Total area 34,703 SF
    UPID US63-3983626
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Bleza E MD Physician
    • Sun Tan Nails Nail Salon
    • Wines On First Specialty Food Shop Wine and Liquor Store
    Value estimations
    Realmo proprietary · 4 methods
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    Owner & transaction history
    Owner on record
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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