UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Subdivision Inwood
MLS Listing ID 928079
Rental Info No
Year Built 1960
Annual Tax Amount $21,377
Property Sub-Type Other
Source onekey2
Property Description
The property consists of an approximately 2,500 SF retail building situated on a 25' x 100' lot (2,500 SF) and is located within an R7-2 zoning district, offering significant long-term redevelopment potential. The current lease includes scheduled rent increases, generating annual rental income of approximately $82,800 through 2027, increasing to $85,284 in 2028, $87,840 in 2029, and $90,468 thereafter, creating built-in income growth for future ownership.
In addition to strong cash flow, the property offers substantial upside through its development potential. The R7-2 zoning allows for approximately 8,600 buildable square feet, making this an attractive long-term hold for investors and developers alike. This asset presents a unique opportunity to benefit from both current returns and future appreciation.
Conveniently located near the A and 1 subway lines, major bus routes, schools, parks, and neighborhood retail, the property benefits from strong visibility, steady foot traffic, and a dense residential population.
•Property Highlights
•Asking Price: $1,450,000
•Triple Net (NNN) Lease
•Established Deli Tenant
•Current Annual Rent: $82,800
•Scheduled Rent Increases Through Lease Term
•Lot Size: 25' x 100' (2,500 SF)
•Existing Building: Approx. 2,500 SF
•R7-2 Zoning
•Approx. 8,600 Buildable SF
•Strong Income with Future Development Potential
•Ideal for Investors, 1031 Exchange Buyers, and Developers
Financials and lease information available upon request. Showings by appointment only.
Location
State NY
County New York (manhattan)
Rooms
Basement See Remarks
Interior
Heating Other
Cooling Ductless
Fireplace No
Exterior
Utilities Available See Remarks
Building
Story 1
Foundation Other
Sewer Public Sewer
Water Public
Structure Type Block,Other
Others
Special Listing Condition None
NEARBY SCHOOLS & PROPERTIES
The mission of the ASA Real Estate Group is to provide a lifelong, positive impact on our clients, our communities, our team, as well as the other realtors with which we work. We specialize in assisting Buyers and Sellers transact. With our extensive knowledge of the market we help our clients get the best possible price for their home through proactive marketing approach. We guide sellers and buyers through every step of the process and keep them updated their transaction.