Chelsea Mixed-Use Retail & Residential Investment – Prime 8th Avenue Exposure
Address: 94 Eighth Avenue, New York, NY 10011
Asking Price: $5,500,000
Price/SF: $844.98
Cap Rate: 5.44%
NOI: $299,226/year
Sale Type: Investment or Owner-User
Building Type: 2-Star Retail Storefront with Residential Units
Location: Chelsea – Manhattan CBD
Property Overview:
94 Eighth Avenue offers a rare opportunity to acquire a mixed-use asset in the heart of Chelsea with strong in-place income and significant long-term upside. This 6,509 SF, three-story masonry building features ground-floor retail with multiple residential units above. Situated along a high-traffic corridor just steps from the Meatpacking District, the High Line, and major subway connections, the property benefits from exceptional visibility, steady pedestrian flow, and a highly desirable residential tenant base.
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Key Details:
- Gross Leasable Area (GLA): 6,509 SF
- Stories: 3 floors
- Typical Floor Size: 2,170 SF
- Construction: Masonry
- Tenancy: Multi-tenant retail + residential
- Owner Occupancy: No
- Year Built: 1901
Investment Highlights:
- In-place NOI of $299,226 with a healthy 5.44% cap rate
- Prime Chelsea location surrounded by dining, retail, and cultural attractions
- Excellent public transit access – steps from A/C/E/L and 1/2/3 subway lines
- Ground-floor retail with stable tenancy and high foot traffic
- Upper floors configured as residential apartments in a strong rental market
- Historic prewar architecture with classic New York character
- Potential value-add through renovations, lease repositions, or owner-occupancy
Financial Summary:
- Asking Price: $5,500,000
- Cap Rate: 5.44%
- NOI: $299,226/year
- Price/SF: $844.98
Conclusion:
94 Eighth Avenue is an exceptional opportunity for investors seeking stable income in one of Manhattan’s most dynamic neighborhoods, or for an owner-user looking to secure a high-profile Chelsea address. With its prime location, mix of retail and residential income, and strong market fundamentals, this asset is well-positioned for long-term appreciation.
Contact us today to request the rent roll, financials, and to schedule a private tour.
