1556 2Nd AveNew York, NY 10028

Property Details for 1556 2Nd Ave

Year built

1910

Lot size

0.04 AC

Property size (Sq ft)

5,383 SF

Zone code

C1-9

Property type

Investment properties

Property subtype

Live-work space

APN

01543-0051

APU

15430051

Description

This exceptional Class A retail space, located at 1556 2nd Avenue in the vibrant heart of New York City (zip code 10028), presents a unique investment opportunity. The property boasts a prime location with high foot traffic, ideal for a discerning restaurant, bar, or food-related business. Spanning 2,000 square feet, this single-tenant space offers ample room for a variety of concepts. Its classification as a Class A property signifies superior construction, amenities, and location within a highly desirable area. The address, 1556 2nd Avenue, places the property within a bustling commercial district known for its high volume of pedestrian traffic and strong consumer base. This translates to significant potential for revenue generation and brand visibility. The property's single-tenant occupancy simplifies management and provides a clear, focused investment strategy. The building itself is not specified in terms of total square footage, but the retail space itself is entirely self-contained and ready for immediate occupancy. This turnkey solution allows for a swift and efficient launch of any business venture. The property's location in New York, NY, offers unparalleled access to a diverse and affluent clientele, making it an attractive proposition for businesses seeking a strong foothold in a competitive market. The geographic coordinates are 40.7743791 latitude and -73.9540066 longitude.

• CAP approach

  CAP return

  Valuation

  6%

  $889,971

  6.5%

  $821,511

  7%

  $762,832

• Comparable approach

  Method

  Valuation

  Relative Method

  $703,343

  Geo Method

  $703,343

• Alternative Use

  Use

  Valuation

  Residential

  $1,018,674

  Hospitality

  $933,100

  Educational

  $776,328

  Medical

  $803,027

  Retail

  $1,207,622

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7743

Longitude

-73.954

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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