362 8th Avenue
Retail | 8.30% CAP | 4,220 SqFt
Marketing description
362 8th Avenue is a Well-positioned Mixed-use Asset in the Heart of Chelsea, One of Manhattan’s Most Active and Resilient Submarkets. the Property Benefits From Exceptional Transit Access—just Steps From Penn Station and Multiple Subway Lines—driving Consistent Foot Traffic and Strong Demand From Both Residents and Retailers. Featuring a Balanced Combination of Residential Units and High-visibility Ground-floor Retail, the Building Offers Stable in-place Income With Clear Upside Through Strategic Re-tenanting, Modernization, and Operational Improvements. Surrounded by Major Commercial Corridors, New Development Activity, and a Dense Local Population, 362 8th Avenue Stands as a Durable Investment Opportunity in a Highgrowth, Transit-oriented Manhattan Location.
Investment highlights
- Lot Size : 4,220 Sf
- Built Year : 2006
- Noi $290,361
- Asking Price $3,500,000
- Cap Rate 8.3%
- Prime Chelsea Location: Situated in One of Manhattan’s Most Dynamic Neighborhoods With Constant Foot Traffic, Strong Demographics, and Proximity to Major Destinations Including Penn Station and Hudson Yards
- Mixed-use Stability: Combines Durable Residential Income With High-visibility Retail Frontage on a Major Avenue, Offering Diversified and Resilient Cash Flow.
- Long-term Growth: the Property’s Location, Mixedincome Structure, and Potential for Repositioning Make It a Strong Long-term Hold in a Proven, Transit oriented Corridor.
- Modern Construction: Built in 2006, the Building Offers More Efficient Systems and Lower Near-term Capital Expenditure Exposure Compared to Older Manhattan Assets.
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