For Sale
$6,750,000

111 Mercer St New York, NY 10012

Luxury storefront, high NOI, strong lease.

Overview

Added:
Dec 11, 2024
Days on market:
137
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

FAQs

What type of property is this?
Retail property - Luxury storefront, high NOI, strong lease.
Where is the retail property located?
The property is located at 111 Mercer St New York, NY.
What is the asking price?
The asking price for this property is $6,750,000.
What are key features of this property?
This property features: Prime SoHo location between Prince and Spring Streets.; Strong, existing tenant with a long-term lease.; Stable, predictable cash flow.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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111 Mercer St
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