Listed by IPRG Investment Property Realty Group
$2,800,000
106 Avenue B
Details
APN 0402-36
Property Type Retail, Multifamily
Sub Type Storefront, Apartment Building
Square Footage 7,810
Units 10
Cap Rate 7.15%
NOI $200,137
Occupancy 100%
Tenancy Multi
Price per SqFt $359
Zoning R7A
Investment Type Stabilized
Retail | 7.15% CAP | 7,810 SqFt
Marketing description
Investment Property Realty Group (IPRG) has been exclusively retained by ownership to market 106 Avenue B, a mixed-use building located in the East Village neighborhood of Manhattan.
The property is fully rent stabilized and consists of eight residential apartments and two ground-floor retail units. The building benefits from a low annual tax bill of $16,423, resulting in a below-average expense ratio and strong in-place cash flow.
106 Avenue B is being offered at $359 per square foot, well below replacement cost, and provides investors with an attractive 7.15% capitalization rate. The property will be delivered free of the AEP program, offering a clean path forward for future ownership.
Investment highlights
Listing Contacts
Listed by IPRG Investment Property Realty Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$200,137.00
$16,678.08/mo
Valuation Metrics
0
DSCR
7.15%
Cap Rate
7.15%
ROI
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