317 5Th StNew York, NY 10003

For Sale
$8,700,000

Prime East Village location, high NOI, strong cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
96
This exceptional six-story, 8,100 square foot mixed-use building at 317 E 5th Street in Manhattan's vibrant East Village offers a compelling investment opportunity. The property boasts a strong 7.00% capitalization rate and a Net Operating Income (NOI) of $542,937, with 100% occupancy. The building comprises 18 units, including 14 free-market units featuring condo-style finishes and three stabilized units. A 1,400 square foot retail space is currently occupied. All free-market tenants have electric HVAC systems and pay their own heating costs. The retail tenant currently pays half rent, presenting an opportunity to increase revenue through repositioning. This could potentially boost the cap rate to 7%. The building's prime location is steps from Tompkins Square Park, numerous restaurants, and convenient access to the B, D, F, M, R, W, and 6 subway lines. The asking price is $8,700,000. The lot size is 2,425 square feet. This is a Core+ investment opportunity with significant upside potential.

Highlights

  • Six-story walk-up building in the East Village.
  • Condo-quality renovations throughout.
  • 14 free-market and 3 stabilized residential units.
  • 1,400 SF occupied retail space.
  • Free-market tenants have individual electric HVAC and pay their own heat.
  • Retail space currently at half rent, potential vacancy.

Property Details for 317 5Th St

Property type
Other retail properties, Other mixed-use properties
Square Feet
8,100 SF
Stories
6
Units
18

Location Insight

City
New York
County
New York
State
New York
Latitude
40.7266154
Longitude
-73.9880477
317 5Th St, New York, New York

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317 5Th St
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