Listed by Ariel Property Advisors
$7,250,000
698 2nd Ave
Details
Property Type Retail, Mixed Use
Sub Type Commercial
Square Footage 4,980
Net Rentable (SqFt) 16,800
Units 3
NOI $389,117
Stories 4
Lot Size (SqFt) 1,680
Zoning C1-9; TA
Retail | 4,980 SqFt
Marketing description
Located in Murray Hill, 698 2nd Ave offers residents immediate access to the 4, 5, 6, and 7 subway lines and Grand Central, while being just a few blocks from the serene green spaces of St. Vartan Park and the area's many dining and retail amenities.
Investment highlights
- 4-story mixed-use building featuring retail on the ground-floor and mezzanine space plus two free-market residential units above
- Newly constructed building with modern mechanical, electrical, plumbing, and HVAC systems
- Retail unit leased on a long-term 10-year lease with 3% annual rent escalations
- Two 3-bedroom, 2-bath apartments with high-end finishes, independent utilities, and private outdoor space
- Features approximately 12,500+ SF of unused FAR for significant development potential
- Situated in Murray Hill area with 'Walker's Paradise' (99/100) and 'Rider's Paradise' (100/100) Walk/Transit Scores
Listing Contacts
Listed by Ariel Property Advisors
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$389,117.00
$32,426.42/mo
Valuation Metrics
0
DSCR
5.37%
Cap Rate
5.37%
ROI
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