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61 Lenox Ave - Corner Net-Leased Harlem Retail 1,440 SF Retail Condo Unit Offered at $889,201 CAD in New York, NY 10026
INVESTMENT HIGHLIGHTS
- Corner retail condominium on Lenox Avenue and W. 113th Street, just three blocks from Central Park and the 110th Street (2 & 3 trains) subway station.
- No use restrictions and venting permitted, offering strong adaptability for future tenants
- 100% occupied by Dry Clean NYC under a 10-year lease through January 2032, with 3% annual increases and tax reimbursements.
- Dense residential base with thousands of housing units within a few blocks, driving consistent foot traffic and customer base.
PROPERTY FACTS
| Total Building Size | 7,795 SF | Typical Floor Size | 1,559 SF |
| Property Type | Multifamily (Condo) | Year Built | 1900 |
| Property Subtype | Lot Size | 0.12 AC | |
| Building Class | C | Opportunity Zone |
Yes
|
| Floors | 5 | ||
| Zoning | R7-2 | ||
| Total Building Size | 7,795 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | |
| Building Class | C |
| Floors | 5 |
| Typical Floor Size | 1,559 SF |
| Year Built | 1900 |
| Lot Size | 0.12 AC |
| Opportunity Zone |
Yes |
| Zoning | R7-2 |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Oven
- Range
SITE AMENITIES
- Vintage Building
1 UNIT AVAILABLE
Unit Retail
| Unit Size | 1,440 SF | Sale Type | Investment |
| Price | $889,201 CAD | Cap Rate | 6.35% |
| Price Per SF | $617.50 CAD | NOI | $56,467.76 CAD |
| Condo Use | Retail |
| Unit Size | 1,440 SF |
| Price | $889,201 CAD |
| Price Per SF | $617.50 CAD |
| Condo Use | Retail |
| Sale Type | Investment |
| Cap Rate | 6.35% |
| NOI | $56,467.76 CAD |
DESCRIPTION
The subject offering is a 1,430-square-foot retail condominium located on the corner of Lenox Avenue and W. 113th Street in Upper Manhattan’s Harlem
neighborhood. The unit has a total square footage of 2,757 SF, with 1,430 SF at grade and an additional 1,327-square-foot lower level. The unit is built 50 x 29,
with fifty feet of retail frontage along Lenox Avenue.
The offering is leased to Dry Clean NYC on a ten-year lease that runs through January 2032. The tenant has 3% annual increases and reimburses for real estate taxes above the base year (2022/2023). There are no options to renew. Dry Clean NYC operates five locations between Manhattan and the Bronx. This is a dropoff only site; no actual dry cleaning is performed on the premises.
SALE NOTES
This unit has no use restrictions, and venting is permitted. The offering occupies the ground floor of the Parc Vues, a five-story, 15-unit pre-war building that was
converted to condominiums in 2006.
This is an opportunity to acquire a corner, 100% occupied retail asset with below-market rent and no use restrictions. The property is three blocks from Central Park and three blocks from the 110th Street Train Station (2 and 3 Trains). Thousands of housing units are located within just a few blocks.
Presented by
61 Lenox Ave - Corner Net-Leased Harlem Retail
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