$16,000,000 - Building, Business, Commercial
HIGHLIGHTS
- 19,000 SQ FT BUILDABLE PROPERTY
- ZONING C6-3
- PRIME CHELSEA LOCATION
- GREAT INCOME MAKER
- HIGH FOOT TRAFFIC
INVESTMENT SUMMARY
Amazing income producer all commercial 3 stories building prime Chelsea/Manhattan building,with all separate utilities for all the 3 units,great condition building with rooftop recreation area,all units with amazing loft layout.
Great development opportunity to built approx. 19,000 sq ft residential building with commercial overlay.
Building Description:
Construction- Brick/Completely Attached.
Property Dimensions 25 ft x 98.75 ft
Building Dimensions 25 ft x 94 ft
3 Stories Building.
Year built 1930
Zoning C6-3/WCHAnnual Gross Income: $ 318,000
Property Taxes $ 55,100/Year.1st Fl Tenant:
Mexican Restaurant-Rent $ 16,500/Month.
8 Years Left On The Lease With 3 % Increase Each Year.
Restaurant Tenant Pays 50% Of The Property Taxes And All Separate Utilities.
Great development opportunity to built approx. 19,000 sq ft residential building with commercial overlay.
Building Description:
Construction- Brick/Completely Attached.
Property Dimensions 25 ft x 98.75 ft
Building Dimensions 25 ft x 94 ft
3 Stories Building.
Year built 1930
Zoning C6-3/WCHAnnual Gross Income: $ 318,000
Property Taxes $ 55,100/Year.1st Fl Tenant:
Mexican Restaurant-Rent $ 16,500/Month.
8 Years Left On The Lease With 3 % Increase Each Year.
Restaurant Tenant Pays 50% Of The Property Taxes And All Separate Utilities.
2nd Floor Tenant.
Rent- $ 6,500/Month-One Year Lease.
2nd FLoor Tenant Pays 25% Of The Annual Property Taxes And All Utilities.
3rd Floor Tenant:
Rent- $ 3,500/Month,No Lease And All Utilities Separate.
Expenses:
Property Taxes $ 55,100- 1 St Fl Tenant Pays 50 % Of Taxes :$ 27,550
2nd Fl Tenant Pays 25% Of The Property Taxes :$ 13,700
Owner Pays Only 25% OF the Yearly Taxes:$13,700
Insurance;$ 6,000/Year.
PLP:$ 800/Year.
Sewer: $ 5000/Year.
Total Expenses $ 25,500/Year.
Net Operating Income $ 292,500/Year.
THE OFFERING
| Price | $16,500,000 | Gross Leasable Area | 7,050 SF |
| Sale Type | Investment or Owner User | No. Stories | 3 |
| Sale Conditions | Year Built | 1930 | |
| Property Type | Retail | Clear Ceiling Height | 16 FT |
| Property Sub-type | Zoning Description | C6-3/WCH | |
| Building Class | C | APN / Parcel ID | 0701-0023 |
| Lot Size | 0.06 AC |
