27 72Nd StNew York, NY 10023

Property Details for 27 72Nd St

Year built

1924

Lot size

0.41 AC

Property size (Sq ft)

5,496 SF

Zone code

NZS

Property type

Retail properties

Property subtype

Parking lots & garages

APN

01125-1202

APU

11251202

Description

This exceptional 10,000-square-foot retail condominium at 27 West 72nd Street in New York City presents a unique investment opportunity. The property is a vacant, two-story space ideally suited for a variety of uses, including quick-service restaurants, full-service restaurants, or other retail storefronts. Key features include 14-foot vaulted ceilings, creating an impressive and spacious interior. The space is fully vented, making it perfectly equipped for restaurant operations. There are no use restrictions, offering flexibility for potential tenants. The building boasts convenient access points on both 72nd and 73rd Streets. This prime location on the Upper West Side benefits from exceptional foot traffic, proximity to Central Park (attracting 37.5 million visitors annually), and excellent public transportation access via the C, B, 1, 2, and 3 subway lines. The surrounding neighborhood boasts a high median household income of $123,000, ensuring a strong potential customer base. The property is available for immediate occupancy, allowing for a swift start to operations. This is a value-add investment opportunity in a highly desirable location with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $1,335,720

  6.5%

  $1,232,972

  7%

  $1,144,903

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,809,630

  Geo Method

  $1,809,630

• Alternative Use

  Use

  Valuation

  Residential

  $1,040,058

  Hospitality

  $952,688

  Educational

  $792,625

  Medical

  $819,885

  Retail

  $1,232,972

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7773

Longitude

-73.9774

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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