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31245484
31245485

227-229 West 116th Street, New York, NY 10026

MM
NY 10491203132
Marshall Real Estate, LLC
Listed by Marshall Real Estate, LLC
$1,750,000
75 days on market
Updated 75 days ago
Opportunity zone

227-229 West 116th Street

Details
Property Type Retail
Sub Type Convenience Store, Storefront
Square Footage 1,842
Net Rentable (SqFt) 1,842
Units 2
Cap Rate 6.45%
NOI $112,943
Occupancy 100%
Tenancy Multi
Lease Type Modified
Rent Bumps Yes
Price per SqFt $950
Broker Co-Op Yes
Year Renovated 2006
Buildings 1
Stories 6
Lot Size (SqFt) 4,037
Investment Type Stabilized
Ground Lease No
Ownership Fee Simple

Retail | 6.45% CAP | 1,842 SqFt

Marketing description

Marshall Real Estate, LLC has been retained on an exclusive basis to arrange the sale of two ground floor retail condominium units located at 227–229 West 116th Street. The offering presents a rare opportunity to acquire retail investments in the heart of Harlem, one of Manhattan’s most dynamic and rapidly evolving neighborhoods. Located along a highly trafficked commercial corridor, the units benefit from excellent visibility, consistent foot traffic, and proximity to major transportation and cultural landmarks.

The retail condominiums are situated on the ground floor of a well-maintained mixed-use building and feature strong frontage along West 116th Street. The spaces are ideal for a variety of retail, service, or food & beverage uses, with layouts that support efficient operations and customer flow.

The property is located in Harlem, a culturally rich and historically significant neighborhood in Upper Manhattan that has experienced substantial revitalization and investment over the past decade. West 116th Street serves as a key east–west corridor, connecting residents and visitors to major retail, dining, and transportation hubs.

The area is anchored by prominent institutions such as Columbia University, which continues to expand its campus and drive economic activity, and is within close proximity to Marcus Garvey Park and Morningside Park, both of which contribute to strong residential appeal.

The neighborhood features a diverse mix of national retailers, local businesses, and popular restaurants, creating a vibrant streetscape and steady consumer base. Harlem’s population growth, increasing household incomes, and ongoing residential development have strengthened demand for neighborhood-serving retail.

Transportation is a major advantage, with convenient access to multiple subway lines including the New York City Subway (2, 3, B, and C lines nearby), providing direct connectivity to Midtown Manhattan and other boroughs.

This offering is particularly attractive for investors seeking stable, income-producing retail assets in a high-demand Manhattan submarket, as well as for owner-users looking to establish a presence in a vibrant neighborhood with long-term growth potential.

Investment highlights

• Long-term, 100% leased

• 30’ of prime frontage on West 116th Street

• Below-market rents

• Low carrying costs

• 14’ Ceilings on Grade

• Use Group 6, with no Offering Plan restrictions

• Strong surrounding demographics and retail synergy

Listing Contacts

MM
NY 10491203132
Marshall Real Estate, LLC
Listed by Marshall Real Estate, LLC

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$112,943.00
$9,411.92/mo

Valuation Metrics

0
DSCR
6.45%
Cap Rate
6.45%
ROI

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