Commercial Lease – 87 East 116th Street, New York, NY 10029
Asking Rent: $4,000/month
Size: 1,500 SF
Lease Type: Retail / Office / Community / Service
Property Type: Ground-Floor Commercial Space
Location: East Harlem / El Barrio (10029)
Availability: Immediate
Property Overview
87 East 116th Street offers a 1,500 SF ground-floor commercial space on a well-trafficked East Harlem corridor, surrounded by dense residential buildings, local retail, schools, and community services. The location benefits from steady neighborhood foot traffic and excellent visibility along one of East Harlem’s primary east–west thoroughfares.
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This space is well suited for neighborhood retail, medical or professional office use, community services, wellness concepts, or nonprofit organizations seeking affordability, size, and accessibility.
Key Features
- Total Size: 1,500 SF
- Asking Rent: $4,000/month
- Annualized Rent: ≈ $48,000
- Effective Rent per SF: ≈ $32/SF annually
- Configuration: Open ground-floor layout with flexible build-out options
- Frontage: East 116th Street exposure
- Potential Uses: Retail, medical office, clinic, wellness, community services, professional office
- Neighborhood Profile: Dense residential population with strong local demand
Lease & Terms
- Base Rent: $4,000/month (~$32/SF/YR)
- Term: Negotiable
- Availability: Immediate
- Due at Signing: First month’s rent and security deposit; tenant financials required
- Tenant Responsibilities: Utilities and standard commercial lease obligations
Market Profile
- Location Advantage: Positioned on East 116th Street near Lexington and Third Avenues, a key commercial corridor in East Harlem.
- Transit Access: Close to 6 train at 116th Street and multiple bus lines.
- Neighborhood Demand: Strong need for neighborhood retail, medical services, and community-oriented businesses.
- Competitive Advantage: Very low effective rent for a large ground-floor space in Manhattan.
Summary
The 1,500 SF commercial space at 87 East 116th Street, New York, NY 10029, offered at $4,000/month (~$32/SF annually), represents an excellent value opportunity in East Harlem. With generous size, flexible use potential, and strong neighborhood demand, this space is ideal for retail, office, medical, or community-focused tenants.
