Multi-family

Located at 94 8th Avenue, this exceptional mixed-use property offers a unique investment opportunity in one of Manhattan’s most sought-after neighborhoods. With a prime retail storefront and residential units, this property combines strong rental income potential with long-term value appreciation.

Property Overview:

• Address: 94 8th Avenue, New York, NY 10011
• Asking Price: $5,250,000 ($1,229.80/SF)
• Cap Rate: 4.10%
• Sale Type: Investment
• Property Type: 2-Star Retail Storefront with Residential Units
• Location: Central Business District (CBD)
• Gross Leasable Area (GLA): 4,269 sq. ft.
• Stories: 3
• Typical Floor Area: 1,423 sq. ft.
• Class: C
• Construction Type: Masonry
• Docks: None

Key Features:

Prime Chelsea Location:
Situated in the heart of Chelsea, 94 8th Avenue benefits from its proximity to some of New York City’s most iconic cultural, dining, and shopping destinations. This vibrant neighborhood, known for its art galleries, theaters, and proximity to the High Line, ensures consistent demand for both retail and residential space, making it a desirable location for businesses and tenants alike.

Versatile Mixed-Use Space:
This property includes a total of 4,269 sq. ft. of gross leasable area spread across three stories. The ground floor features a retail storefront, while the upper floors offer residential units. The typical floor size of 1,423 sq. ft. provides flexibility for a variety of potential uses, whether as a retail shop or as an office, with residential units above offering consistent rental income.

Strong Income Potential:
The property’s current configuration, along with its prime location in Chelsea, provides a reliable income stream. The 4.10% cap rate reflects its strong performance as an investment property, offering steady returns and long-term growth potential. This is an ideal opportunity for investors seeking to acquire a well-positioned asset in a high-demand area of Manhattan.

Class C Building with Masonry Construction:
As a Class C building, 94 8th Avenue offers the potential for value-added improvements, making it an excellent choice for investors looking to enhance the property and further increase its value. Its masonry construction ensures durability and long-term sustainability, providing a solid foundation for future development or upgrades.

Conclusion:
94 8th Avenue is an exceptional investment opportunity offering a well-located mixed-use property in one of Manhattan’s most vibrant neighborhoods. With its combination of retail and residential space, strong income potential, and future growth prospects, this property is a standout in the Chelsea market. Whether you’re an investor looking to expand your portfolio or seeking a property with long-term value, 94 8th Avenue provides a prime opportunity in New York City’s real estate landscape.