2591 Frederick Douglass BlvdNew York, NY 10030

Property Details for 2591 Frederick Douglass Blvd

Year built

1920

Lot size

0.03 AC

Property size (Sq ft)

7,010 SF

Zone code

R7-2

Property type

Retail residential properties

APN

02041-0047

APU

20410047

Description

This exceptional mixed-use property, located at 2591 Frederick Douglass Boulevard in the vibrant Harlem neighborhood of Manhattan, presents a compelling investment opportunity. The five-story building, constructed in 1920 and renovated in 1992, boasts a total of 7,010 square feet situated on a 1,500 square foot lot. The property features a desirable mix of nine units: seven residential units and two commercial units, catering to diverse income streams. Its strategic corner location at the intersection of 138th Street and Frederick Douglass Boulevard offers excellent visibility and accessibility. The building is zoned R7-2, C1-4, allowing for a range of potential uses and future development possibilities. Conveniently located just a short distance from the 135th Street (A, B, C) subway station, this property benefits from exceptional public transportation access. Offered at $2,800,000, this represents a price per square foot of $399.43. This is a rare opportunity to acquire a well-maintained, income-generating property in a rapidly appreciating area of Manhattan. The building's solid construction and established tenant base provide a stable foundation for future growth and returns. Don't miss this chance to own a piece of Harlem's thriving real estate market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,437,113

  6.5%

  $1,326,566

  7%

  $1,231,812

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,419,686

  Geo Method

  $1,419,686

• Alternative Use

  Use

  Valuation

  Residential

  $1,326,566

  Hospitality

  $1,215,128

  Educational

  $1,010,972

  Medical

  $1,045,741

  Retail

  $1,572,623

Location Insight

City

New York

County

New York

State

New York

Latitude

40.8186

Longitude

-73.9453

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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