94 Eighth Ave
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94 Eighth Ave
4,269 SF Retail Building New York, NY 10011 $5,250,000 ($1,230/SF) 4.10% Cap Rate
Investment Highlights
- Located in Chelsea near the meatpacking district on the east side of 8th Avenue between West 15th Street and West 14th Street
Executive Summary
Located in Chelsea near the meatpacking district on the east side of 8th Avenue between West 15th Street and West 14th Street, one block from Google headquarters. Property is primarily a 2-Family with One Store on the Ground Floor and 2 Residential units above. Built in 1901. Perfect for user investor. Currently 2 tenants, 1 Commercial and 1 Residential. Fully Occupied.
Commercial Unit – Pay-O-Matic Store – Monthly Rent $15,457 / Annual $185,490.40 – Lease Expiration 11/13/2029 plus 5-year option renewal
Residential Unit – Monthly Rent $5,200 / Annual $62,400 – Lease Expiration 06/30/2025
Total monthly income $20,657 / Total annual income $247,890. Total Annual Operating Expenses – ($32,392)
NOI: $215,498 Annually
Commercial Unit – Pay-O-Matic Store – Monthly Rent $15,457 / Annual $185,490.40 – Lease Expiration 11/13/2029 plus 5-year option renewal
Residential Unit – Monthly Rent $5,200 / Annual $62,400 – Lease Expiration 06/30/2025
Total monthly income $20,657 / Total annual income $247,890. Total Annual Operating Expenses – ($32,392)
NOI: $215,498 Annually
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$215,498
|
$50.48
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $215,498 |
| Annual Per SF | $50.48 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
4,269 SF
Building Class
C
Year Built
1901
Price
$5,250,000
Price Per SF
$1,230
Cap Rate
4.10%
NOI
$215,498
Tenancy
Single
Building Height
3 Stories
Building FAR
3.00
Land Acres
0.03 AC
Zoning
C1-6A - Commercial District
Frontage
20 FT on Eighth Ave
Amenities
- Bus Line
- Metro/Subway
Walk Score ®
Walker's Paradise (100)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Biker's Paradise (95)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $221,388 (2024) | |
| Land Assessment | $743,100 (2024) | Total Assessment | $328,300 (2024) |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$743,100 (2024)
Improvements Assessment
$221,388 (2024)
Total Assessment
$328,300 (2024)
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