Retail

Prime Retail/Restaurant Investment Property in Midtown Manhattan

Address: 340 Lexington Ave, New York, NY, 10016
For Sale: $7,700,000 ($2,467.95/SF)
Cap Rate: 4.16%
Sale Type: Investment or Owner-User
Property Type: 3-Star Retail/Restaurant
Location: Central Business District (CBD)
Gross Leasable Area (GLA): 3,120 SF
Stories: 2
Typical Floor Size: 1,600 SF
Class: C
Construction: Masonry

Overview:
This 3,120 SF retail/restaurant property, located in the highly sought-after Midtown Manhattan, offers an exceptional investment opportunity. Priced at $7,700,000 ($2,467.95/SF) with a 4.16% cap rate, this property is ideal for an investor seeking stable returns or an owner-user looking to establish a retail or restaurant business in a prime location. The 2-story building combines excellent visibility, ample space, and a central position in the heart of Manhattan’s commercial hub.

Key Features:

Prime Location:
340 Lexington Avenue is situated in Midtown Manhattan, right in the center of the bustling Central Business District (CBD). This location benefits from high foot traffic and proximity to numerous office buildings, hotels, and other retail establishments, making it a prime spot for a restaurant or retail business.

Flexible Space:
With 3,120 SF across two stories (1,600 SF per floor), the property provides ample space for a wide range of business types, particularly retail or restaurant use. The layout offers flexibility for customization, whether you’re looking to establish a flagship store or create a vibrant dining destination.

Stable Investment:
This property offers an attractive cap rate of 4.16%, making it a solid investment opportunity for those seeking steady income from a prime Midtown location. The area continues to thrive with a mix of commercial, residential, and tourist traffic, ensuring a stable demand for retail and restaurant space.

Masonry Construction:
Built with durable masonry, this property ensures long-term stability and minimal maintenance, providing a secure and reliable investment.

Class C Property:
The building is classified as a Class C property, offering significant potential for renovation or rebranding. With the right updates, it could be transformed into a high-performing asset that attracts top-tier tenants or customers.

Proximity to Transit:
340 Lexington Avenue is exceptionally well-connected, with easy access to multiple subway lines, including the 4, 5, 6, 7, and S trains, providing convenient access for both customers and employees. The property’s location also offers easy access to major transportation hubs such as Grand Central Station.

Highlights:
This 3,120 SF retail/restaurant property at 340 Lexington Avenue presents an incredible opportunity for both investors and owner-users. Its prime location, stable cap rate, and potential for customization make it an ideal choice for businesses looking to capitalize on Midtown Manhattan’s vibrant market.

Contact us today to schedule a tour and learn more about how this property can become a valuable addition to your portfolio or business operations!