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315 W 46th St 5,400 SF 100% Leased Retail Building New York, NY 10036 $11,097,564 CAD ($2,055.10 CAD/SF) 5% Cap Rate
EXECUTIVE SUMMARY
Current Configuration: 4 Residential Units + 1 Retail Storefront Annual Gross Income: $465,000 2024 Property Taxes: Only $96,000 Lot Size: 20×100.42ft Building Footprint: 20×50ft (approx. 3,540SF, 3 stories) Development & Upside Potential Zoning: R8 (High-Density Residential) with C1-5 Commercial Overlay • Residential FAR up to 6.02 under R8 zoning – allows building ~6× the lot area (~12,000SF) • C1-5 overlay Commercial FAR of 2.0 within R8, equating to combined FAR equal to the higher of the two (6.02) Buildable Area: Over 12,000SF of potential space – ideal for expansion, redevelopment, or mixed-use conversion. Key Highlights • Turn-key income: Immediate cash flow with long-term tenants (+ retail), plus two vacant units for flexible use • Tax-efficient ownership: Annual tax burden only ~$96K, low compared to income • Transferrable development rights: Rare Manhattan plot with substantial upside under current zoning • Midtown core location: Minutes from Broadway, Times Square, transit, dining, and entertainment
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
5,400 SF
Building Class
C
Year Built
1910
Price
$11,097,564 CAD
Price Per SF
$2,055.10 CAD
Cap Rate
5%
NOI
$554,878 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Building FAR
2.48
Lot Size
0.05 AC
Zoning
R8 (K4) - High density residential district
AMENITIES
- Signage
Walk Score®
Walker's Paradise (99)
Transit Score®
Rider's Paradise (100)
Bike Score®
Biker's Paradise (94)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 1037-0024 | Improvements Assessment | $952,833 CAD (2025) |
| Land Assessment | $364,863 CAD (2025) | Total Assessment | $1,317,696 CAD (2025) |
PROPERTY TAXES
Parcel Number
1037-0024
Land Assessment
$364,863 CAD (2025)
Improvements Assessment
$952,833 CAD (2025)
Total Assessment
$1,317,696 CAD (2025)
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315 W 46th St
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