587 10Th AveNew York, NY 10036

Property Details for 587 10Th Ave

Year built

1988

Property size (Sq ft)

6,500 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional retail property, located at 587 Tenth Avenue in New York, NY 10036, presents a unique investment opportunity. The single-story, 6,500 square foot building, constructed in 1988, features six retail units currently under a modified lease agreement with multiple tenants. The property sits on a 5,200 square foot lot (100' x 52') and is zoned C6-4. The building is a retail condominium with a ground lease in place. The property boasts a long-term ownership history and is currently fully leased. The 2023 assessed value is $1,278,000, with property taxes totaling $138,000 for the same year. This prime location, near the intersection of West 42nd and 43rd Streets (Block/Lot 1071/1002), offers significant potential for future growth and income. The property's strong tenancy and established lease structure provide a stable investment with considerable upside. This is a rare opportunity to acquire a well-maintained, fully leased retail property in a highly desirable New York City location.

Location Insight

City

New York

County

New York

State

New York

Latitude

40.76

Longitude

-73.9955

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