Mixed-Use Investment Opportunity in Midtown West
Address: 373 West 46th Street, New York, NY, 10036
Price: $12,000,000 ($1,895.73/SF) (Part of a Portfolio)
Cap Rate: 5.40%
Sale Type: Investment
Type: 3-Star Retail Storefront & Residential
Property Overview:
Located in the vibrant Midtown West/Hell’s Kitchen neighborhood, 373 West 46th Street offers a prime mixed-use investment opportunity. This four-story, Class C masonry building features retail storefront space on the ground floor and residential units above, combining stable rental income with strong appreciation potential. With a Gross Leasable Area (GLA) of 2,880 SF and a cap rate of 5.40%, this asset presents a compelling investment for those looking to diversify their portfolio in one of NYC’s most dynamic retail and residential markets.
Key Features:
Prime Midtown West Location:
- Situated in the heart of Hell’s Kitchen, an area known for its lively restaurant scene, Broadway theaters, and proximity to Times Square.
- Steps from Restaurant Row, ensuring high foot traffic and retail demand.
- Surrounded by luxury residential buildings, corporate offices, and entertainment venues, driving consistent occupancy rates.
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Efficient Mixed-Use Layout:
- Ground-floor retail storefront, perfect for restaurants, boutique shops, or service-based businesses.
- Four-story structure with typical floor size of 666 SF, optimizing usable space for residential tenants.
- 48′ building height, maximizing space efficiency and market appeal.
Investment Potential & Market Appeal:
- Cap rate of 5.40%, ensuring steady returns for investors.
- Dual-income potential from retail and residential leases, providing diversified revenue streams.
- Located in a high-traffic, high-demand retail corridor, making it an ideal long-term investment.
Building & Infrastructure:
- Masonry construction, ensuring structural durability and reduced maintenance costs.
- Well-maintained property, making it turnkey-ready for new ownership.
- No dock space, maintaining a clean and pedestrian-friendly storefront.
Highlights:
✔ $12,000,000 mixed-use investment in a prime NYC location
✔ 5.40% cap rate, offering solid rental income and appreciation potential
✔ Retail storefront plus residential units, ensuring multiple revenue streams
✔ Located in the high-demand Hell’s Kitchen/Midtown West district
✔ Surrounded by major attractions, business hubs, and public transit
Conclusion:
373 West 46th Street offers an exceptional investment opportunity in one of Manhattan’s most active retail and residential markets. With its prime location, diversified income potential, and strong cap rate, this property is ideal for investors looking to acquire a stable, high-return asset in New York City.
Contact us today to schedule a private tour and explore this prime investment opportunity!
