166 8Th AveNew York, NY 10011

Property Details for 166 8Th Ave

Year built

1920

Lot size

0.05 AC

Property size (Sq ft)

3,454 SF

Zone code

C16A

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

00768-0003

APU

7680003

Description

This exceptional retail space, located at 166 Eighth Avenue in the vibrant Chelsea submarket of New York County, presents a unique investment opportunity. The property is a single-tenant space encompassing 2,000 square feet, currently occupied. The tenant, CitiPups, occupies the main retail area, which is in good condition and features existing black iron fixtures installed by a previous tenant. A significant advantage is the inclusion of a 1,500 square foot basement, providing ample storage capacity. This substantial storage area significantly enhances the functionality and value of the property. The space is well-suited for a variety of retail uses, benefiting from its prime location within the bustling Chelsea neighborhood. Gas service is available on-site. The property's strong tenant occupancy and desirable location make it an attractive investment prospect for discerning buyers seeking a stable, income-generating asset in a high-demand area. The single-tenant occupancy simplifies management and minimizes vacancy risks. This turnkey retail space offers immediate income potential and long-term growth opportunities in a thriving New York City market. The combination of size, location, and existing infrastructure makes this property a compelling opportunity for investors seeking a strong return on investment. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $571,049

  6.5%

  $527,122

  7%

  $489,471

• Comparable approach

  Method

  Valuation

  Relative Method

  $451,300

  Geo Method

  $451,300

• Alternative Use

  Use

  Valuation

  Residential

  $653,632

  Hospitality

  $598,723

  Educational

  $498,131

  Medical

  $515,262

  Retail

  $774,870

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7423

Longitude

-74.0002

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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