1330 3Rd AveNew York, NY 10075

Property Details for 1330 3Rd Ave

Year built

1900

Lot size

0.03 AC

Property size (Sq ft)

7,312 SF

Zone code

C1-9

Property type

Retail residential properties

APN

01411-0033

APU

14110033

Description

This exceptional mixed-use property, located at 1330 3rd Avenue in New York City's desirable Upper East Side, presents a compelling investment opportunity. The five-story building encompasses 7,312 square feet on a 1,463 square foot corner lot at the northwest corner of East 76th Street and 3rd Avenue. Currently operating at 100% occupancy, the property boasts nine units: eight free-market residential units (four one-bedroom and four two-bedroom apartments) and one commercial retail space. The building is classified as Class C with a NNN lease type and single tenancy. The current Net Operating Income (NOI) is $398,624, yielding a 4.43% cap rate. However, a pro-forma NOI of $575,732 projects a significantly higher 6.40% cap rate, indicating substantial value-add potential. The asking price is $9,000,000, translating to a price per square foot of $1,230.85. The property benefits from its prime location, conveniently served by the 6 and Q subway lines. Zoned C1-9, this asset offers a rare chance to acquire a well-maintained, cash-flowing building with significant upside potential, held by the same family for 45 years and now offered for sale for the first time. This is a value-add investment opportunity with strong potential for future growth.

• CAP approach

  CAP return

  Valuation

  6%

  $1,499,026

  6.5%

  $1,383,716

  7%

  $1,284,880

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,480,848

  Geo Method

  $1,480,848

• Alternative Use

  Use

  Valuation

  Residential

  $1,383,716

  Hospitality

  $1,267,477

  Educational

  $1,054,526

  Medical

  $1,090,792

  Retail

  $1,640,374

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7725

Longitude

-73.9589

CBSA code

35620

CBSA name

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

Property Tax & Assessments

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