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94 Eighth Ave 6,509 SF 100% Leased Retail Building New York, NY 10011 $7,603,750 CAD ($1,168.19 CAD/SF)

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INVESTMENT HIGHLIGHTS

Highyl desirable neighborhood of Chelsea, Manhattan

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 a Residential duplex above. Built in 1901. Perfect for user investor. Currently 1 tenant, the Commercial unit on the first floor. The Residential duplex on floors 2 and 3 are currently vacant.
Commercial Unit – Pay-O-Matic Store – Monthly Rent $15,000 / Annual $180,000 with 3% annual escalations.
Lease Expiration 11/30/2031
Residential Unit – Delivered Vacant, potential monthly Rent $14,000 / potential annual rent $168,000
Total monthly potential income $29,000 / Total annual potential income $348,000. Total Annual Operating Expenses – ($39,642)
Potential NOI: $ 308,358 Annually

Survey 94 8th Ave, 08-17-22

94 8th Avenue Setup2, 09-26-25

PROPERTY FACTS

Sale Type

Investment or Owner User

Property Type

Retail

Property Subtype

Storefront Retail/Residential

Building Size

6,509 SF

Building Class

Year Built

1901

Price

$7,603,750 CAD

Price Per SF

$1,168.19 CAD

Percent Leased

100%

Tenancy

Multiple

Building Height

3 Stories

Building FAR

0.34

Lot Size

0.44 AC

Zoning

C1-6A - Commercial District, Zoned C1-6A (residential equivalent R7A)

Frontage

20’ on Eighth Ave

Bus Line

Metro/Subway

MAJOR TENANTS

Finance and Insurance
-
$107.77 CAD
Nov 2030

PAYOMATIC has been in business since the 1950s and has grown to become New York’s largest provider of check cashing and financial services handling more than 19 million transactions annually. PAYOMATIC has nearly 150 stores in neighborhoods throughout the Bronx, Brooklyn, Manhattan, Queens, Long Island and the NYC area. Many stores are open 24/7. PAYOMATIC offers a variety of store services that make life easier for our customers. If you need cash or want to send cash – PAYOMATIC is here for you! A neighborhood financial services provider and a proud member of the community. PAYOMATIC stores offer Check Cashing, Western Union® Money Transfers, Money Orders, inPOWER Card (with direct deposit options), Bill Payment (many same-day payment options), Prepaid Mobile Services, and many other services. PAYOMATIC also offers customized services for business owners including the ability to cash checks payable to your business.