116 Chambers StNew York, NY 10007

Property Details for 116 Chambers St

Year built

1900

Lot size

0.04 AC

Property size (Sq ft)

11,390 SF

Zone code

C63A

Property type

Office properties

Property subtype

Office buildings

APN

00136-0024

APU

1360024

Description

This exceptional 1,500-square-foot commercial space at 116 Chambers Street in New York City's vibrant Tribeca neighborhood presents a unique opportunity for a single tenant. The property is classified as both retail and office space, offering flexibility for a variety of businesses. Its convenient location between West Broadway and Church Street provides excellent visibility and accessibility. The property benefits from immediate proximity to the Chambers Street subway station, serviced by the 1, 2, and 3 train lines, ensuring easy commutes for employees and customers. Numerous bus lines also serve the area, including the X-59, X84, BxM, M22, X28, X27, M9, M55, M20, and 120. The surrounding area boasts a thriving mix of businesses, including well-established names such as Hectors Jewelry, DOCSuite, Starbucks, Dunkin', 1803 NYC, Nish Nush, Serafina Italian Restaurant Tribeca, LOS TACOS No.1, Le Pain Quotidien, Zucker's Bagels & Smoked Fish, REE Nail Spa, and Juice Press, creating a dynamic and attractive commercial environment. This property's central location and proximity to public transportation make it an ideal space for a business seeking high visibility and convenient access for its clientele and staff. The single-tenant occupancy ensures exclusive use of the space, providing a unique opportunity for a business to establish a strong presence in a prime Tribeca location. The property is located in New York County, New York, with a zip code of 10007.

• CAP approach

  CAP return

  Valuation

  6%

  $1,883,107

  6.5%

  $1,738,253

  7%

  $1,614,092

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,488,217

  Geo Method

  $1,488,217

• Alternative Use

  Use

  Valuation

  Residential

  $2,155,434

  Hospitality

  $1,974,366

  Educational

  $1,642,649

  Medical

  $1,699,142

  Retail

  $2,555,232

Location Insight

City

New York

County

New York

State

New York

Latitude

40.715

Longitude

-74.0086

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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