Log In/Sign Up
Your email has been sent.
1941-1943 Madison Ave 24,511 SF 100% Leased Retail Building New York, NY 10035 $34,226,751 CAD ($1,396.38 CAD/SF) 4% Cap Rate
Investment Highlights
- Corner Property
- Additional 110,836 Sq Ft
Executive Summary
Discover a unique development opportunity in East Harlem! This assemblage of three commercial building sits in a prime location, perfectly positioned for mixed-use or residential development. With multiple floors and flexible space options, the building allows for a creative redesign to suit various business needs. This property is surrounded by high-traffic areas, residential developments, and established retail spaces, ensuring a steady flow of foot traffic and visibility. Close to public transit and main thoroughfares, it’s ideal for businesses looking to establish a presence in the vibrant East Harlem neighborhood. Don’t miss out on this chance to invest in one of Manhattan’s most dynamic areas with strong growth potential. The property is currently fully leased out and income producing with the yearly leases and demolition clauses in the leases.
Key Highlights:
• Location: Prime East Harlem, Manhattan
• Zoning: Flexible for mixed-use development
• Proximity: Near public transportation and busy shopping areas
• Potential Uses: Retail, office space, residential above retail
• Development Opportunity: Total square footage 135,347 Sq Ft
Key Highlights:
• Location: Prime East Harlem, Manhattan
• Zoning: Flexible for mixed-use development
• Proximity: Near public transportation and busy shopping areas
• Potential Uses: Retail, office space, residential above retail
• Development Opportunity: Total square footage 135,347 Sq Ft
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$1,663,361
|
$67.86
|
| Other Income |
$207,337
|
$8.46
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$1,870,698
|
$76.32
|
| Taxes |
$365,242
|
$14.90
|
| Operating Expenses |
$137,309
|
$5.60
|
| Total Expenses |
$502,551
|
$20.50
|
| Net Operating Income |
$1,368,147
|
$55.82
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $1,663,361 |
| Annual Per SF | $67.86 |
| Other Income (CAD) | |
|---|---|
| Annual | $207,337 |
| Annual Per SF | $8.46 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $1,870,698 |
| Annual Per SF | $76.32 |
| Taxes (CAD) | |
|---|---|
| Annual | $365,242 |
| Annual Per SF | $14.90 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $137,309 |
| Annual Per SF | $5.60 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $502,551 |
| Annual Per SF | $20.50 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $1,368,147 |
| Annual Per SF | $55.82 |
Property Facts
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Building Size
24,511 SF
Building Class
B
Year Built
1926
Price
$34,226,751 CAD
Price Per SF
$1,396.38 CAD
Cap Rate
4%
NOI
$1,369,070 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
5 Stories
Building FAR
3.13
Lot Size
0.18 AC
Zoning
C4-4D - Regional commercial center located outside of the central business districts
Amenities
- Signage
Walk Score®
Walker's Paradise (99)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (78)
Nearby Major Retailers
Property Taxes
| Parcel Number | 1749-0050 | Total Assessment | $3,389,216 CAD (2025) |
| Land Assessment | $596,486 CAD (2025) | Annual Taxes | $365,242 CAD ($14.90 CAD/SF) |
| Improvements Assessment | $2,792,729 CAD (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
1749-0050
Land Assessment
$596,486 CAD (2025)
Improvements Assessment
$2,792,729 CAD (2025)
Total Assessment
$3,389,216 CAD (2025)
Annual Taxes
$365,242 CAD ($14.90 CAD/SF)
Tax Year
2024
1 of 5
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
1941-1943 Madison Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.