For Sale
$6,750,000

111 Mercer StNew York, NY 10012

Luxury storefront, high NOI, strong lease.

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional 4,089 square foot retail condominium, located at 111 Mercer Street in the heart of SoHo, presents a compelling investment opportunity. Currently 100% occupied by ME + EM, a luxury fashion brand, under a lease expiring August 2028, this property offers secure in-place income and a strong 6.15% cap rate, generating a net operating income (NOI) of $415,079. The two-story space boasts 2,148 square feet at grade and an additional 1,941 square feet on the lower level. Features include a brand-new 2024 build-out with state-of-the-art features and high-end finishes, wood-framed windows, original cast-iron columns, 12.5-foot ceilings on the ground floor, and abundant natural light from glass windows and a skylight. Situated between Prince and Spring Streets, this property benefits from high foot traffic and proximity to other upscale shops and restaurants. The building is zoned M1-5/R7X and includes one seat on a three-member condo board. Convenient access to multiple subway lines (N, R, W, B, D, F, M, 4, 6) further enhances its appeal. The asking price is $6,750,000.

Highlights

  • Prime SoHo location between Prince and Spring Streets.
  • Strong, existing tenant with a long-term lease.
  • Stable, predictable cash flow.
  • Flexible use restrictions.
  • One of three seats on the condo board.
  • High ceilings (12.5 feet).

Property Details for 111 Mercer St

Property type
Retail properties, Retail space
Square Feet
4,089 SF
Stories
2
Units
1

Location Insight

City
New York
County
New York
State
New York
Latitude
40.723811383472
Longitude
-73.999298144131
111 Mercer St, New York, New York

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111 Mercer St
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