654 9Th AveNew York, NY 10036

Property Details for 654 9Th Ave

Year built

1920

Lot size

0.03 AC

Property size (Sq ft)

4,240 SF

Zone code

R8

Property type

Mixed-use properties

Property subtype

Retail residential properties

APN

01036-0163

APU

10360163

Description

This exceptional 4,240-square-foot restaurant space at 654 9th Avenue in New York, NY 10036 presents a lucrative investment opportunity. Located in a vibrant New York City neighborhood, this fully built-out restaurant and bar boasts a strong net operating income (NOI) of $335,831.04. The property, built in 1920, is a four-story building with a ground floor of 1,200 square feet. The lot dimensions are 20' x 63', and the building features a 51-foot roof height. Significant potential exists due to an unused floor area ratio (FAR) of 3,339. The property is zoned R8, C1-5/8c and is classified as Tax Class 2B, with annual property taxes amounting to $86,313. This established restaurant offers immediate income generation and substantial upside potential for expansion or redevelopment given the considerable unused FAR. The property's prime location and strong financial performance make it an attractive investment for discerning buyers seeking a high-return opportunity in the competitive New York City market. This is a rare chance to acquire a well-established, profitable restaurant with significant development potential in a highly desirable area. The property's history and current configuration provide a solid foundation for continued success or creative repositioning.

• CAP approach

  CAP return

  Valuation

  6%

  $869,238

  6.5%

  $802,374

  7%

  $745,061

• Comparable approach

  Method

  Valuation

  Relative Method

  $858,698

  Geo Method

  $858,698

• Alternative Use

  Use

  Valuation

  Residential

  $802,374

  Hospitality

  $734,970

  Educational

  $611,486

  Medical

  $632,516

  Retail

  $951,201

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7607

Longitude

-73.9907

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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