587 10Th AveNew York, NY 10036

For Sale
Call for price

Prime NYC location, 6,500 SF, 6 units

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional retail property, located at 587 Tenth Avenue in New York, NY 10036, presents a unique investment opportunity. The single-story, 6,500 square foot building, constructed in 1988, features six retail units currently under a modified lease agreement with multiple tenants. The property sits on a 5,200 square foot lot (100' x 52') and is zoned C6-4. The building is a retail condominium with a ground lease in place. The property boasts a long-term ownership history and is currently fully leased. The 2023 assessed value is $1,278,000, with property taxes totaling $138,000 for the same year. This prime location, near the intersection of West 42nd and 43rd Streets (Block/Lot 1071/1002), offers significant potential for future growth and income. The property's strong tenancy and established lease structure provide a stable investment with considerable upside. This is a rare opportunity to acquire a well-maintained, fully leased retail property in a highly desirable New York City location.

Highlights

  • Exceptional 6,500 SF retail condo in prime NYC location (587 Tenth Avenue, 10036).
  • Single-story building on a 5,200 SF lot (100' x 52'), built in 1988.
  • Six retail units, fully leased under a modified lease agreement.
  • Zoned C6-4 with a ground lease in place.
  • 2023 assessed value: $1,278,000; 2023 property taxes: $138,000.

Property Details for 587 10Th Ave

Property type
Other retail properties, Individual retail properties
Square Feet
6,500 SF
Year Built
1988
Buildings
1
Stories
1
Units
6

Location Insight

City
New York
County
New York
State
New York
Latitude
40.7599883
Longitude
-73.9955116
587 10Th Ave, New York, New York

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587 10Th Ave
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