DELIVERED VACANT
BUILDING FOR SALE 301 CANAL STREET NEW YORK, NY 10013 Two-Story Retail/Commercial Building
DELIVERED VACANT
PROPERTY FEATURES LOCATION: BLOCK/LOT: LOT SIZE:* LOT SF:* BUILDING DIMENSIONS:* TOTAL BUILDING SF:* STORIES: ZONING/FAR: ASSESSMENT (15/16): TAXES (15/16) * Subject to final measurement
North side of Canal Street West of Broadway 00231/0001 21.33’ X 44.17’ 942 sf 21’ X 43’ 1,751 sf 2 M1-5B / FAR 5 $647,100 $55,712.79
PROPERTY DESCRIPTION The subject property is a 2-story commercial building located on the north side of Canal Street and just west of Broadway. The building contains retail on the ground floor and office on the second floor. The ground floor is occupied by a souvenir/gifts retailer and the second floor is occupied by an office user. Both tenants have month to month occupancy and the building can be delivered vacant. The property is positioned in a very strong and growing retail corridor with national and regional tenants moving into the area, including Duane Reade, Bank of America, Dunkin Donuts and Gourmet Garage. The NQR Subway station is adjacent to the property. In addition to it’s value as a standalone retail building, the property is key to a potential development site which would include the parcels on either side plus the parcel behind it for a potential commercial development of approximately 35,000 sf. RENDERRING
FOR MORE INFORMATION PLEASE CONTACT EXCLUSIVE BROKERS:
Peter Braus Managing Principal 212.776.1203 [email protected]
Richard Kave Managing Director 212.776.1291 [email protected]
LEE & ASSOCIATES NYC LLC 600 Madison Avenue – 3rd floor New York, NY 10022
DEVELOPMENT OPPORTUNITY The property is strategically located adjacent to 3 other under-built properties, and is a key to a future assemblage. A savvy investor will be able to seize the opportunity to gain strong cash flow from the commercial tenants (or as an owner/user) while the area continues to transform into a major retail and commercial corridor. The location, at the intersection of Broadway & Canal, is a singularly attractive retail opportunity. The subject parcel is one of four “tax-payer” properties that together comprise 35,155 buildable square feet as of right.
Address 303 Canal 301 Canal 419/421 Broadway 423 Broadway
Lot Size 906 sf 942 sf 2,679 sf 2,504 sf
FAR 5 5 5 5
Buildable 4,530 sf 4,710 sf 13,395 sf 12,520 sf Total: 35,155 sf
PROJECTED REVENUE*: REAL ESTATE TAXES (actual): INSURANCE (projected $0.50 psf): WATER & SEWER (estimate): ELECTRIC: REPAIRS & MAINTENANCE (est) MANAGEMENT (est): TOTAL ANNUAL EXPENSES: NET OPERATING INCOME (proj): PROJECTED CAP RATE: * Assumes $300 psf for the ground floor & $75 psf for the 2nd floor
$328,275 $ 55,712 $ 875 $ 2,000 Tenant Expense $ 5,000 $ 5,000 $ 68,587 $259,688 3.46 %
BUILDING FOR SALE 301 CANAL STREET NEW YORK, NY 10013 Two-Story Retail/Commercial Building
ROUGH SURVEY
DELIVERED VACANT
PROPERTY FEATURES LOCATION: BLOCK/LOT: LOT SIZE:* LOT SF:* BUILDING DIMENSIONS:* TOTAL BUILDING SF:* STORIES: ZONING/FAR: ASSESSMENT (15/16): TAXES (15/16) * Subject to final measurement
North side of Canal Street West of Broadway 00231/0001 21.33’ X 44.17’ 942 sf 21’ X 43’ 1,751 sf 2 M1-5B / FAR 5 $647,100 $55,712.79
PROPERTY DESCRIPTION The subject property is a 2-story commercial building located on the north side of Canal Street and just west of Broadway. The building contains retail on the ground floor and office on the second floor. The ground floor is occupied by a souvenir/gifts retailer and the second floor is occupied by an office user. Both tenants have month to month occupancy and the building can be delivered vacant. The property is positioned in a very strong and growing retail corridor with national and regional tenants moving into the area, including Duane Reade, Bank of America, Dunkin Donuts and Gourmet Garage. The NQR Subway station is adjacent to the property. In addition to it’s value as a standalone retail building, the property is key to a potential development site which would include the parcels on either side plus the parcel behind it for a potential commercial development of approximately 35,000 sf. RENDERRING
FOR MORE INFORMATION PLEASE CONTACT EXCLUSIVE BROKERS:
Peter Braus Managing Principal 212.776.1203 [email protected]
Richard Kave Managing Director 212.776.1291 [email protected]
LEE & ASSOCIATES NYC LLC 600 Madison Avenue – 3rd floor New York, NY 10022
DEVELOPMENT OPPORTUNITY The property is strategically located adjacent to 3 other under-built properties, and is a key to a future assemblage. A savvy investor will be able to seize the opportunity to gain strong cash flow from the commercial tenants (or as an owner/user) while the area continues to transform into a major retail and commercial corridor. The location, at the intersection of Broadway & Canal, is a singularly attractive retail opportunity. The subject parcel is one of four “tax-payer” properties that together comprise 35,155 buildable square feet as of right.
Address 303 Canal 301 Canal 419/421 Broadway 423 Broadway
Lot Size 906 sf 942 sf 2,679 sf 2,504 sf
FAR 5 5 5 5
Buildable 4,530 sf 4,710 sf 13,395 sf 12,520 sf Total: 35,155 sf
PROJECTED REVENUE*: REAL ESTATE TAXES (actual): INSURANCE (projected $0.50 psf): WATER & SEWER (estimate): ELECTRIC: REPAIRS & MAINTENANCE (est) MANAGEMENT (est): TOTAL ANNUAL EXPENSES: NET OPERATING INCOME (proj): PROJECTED CAP RATE: * Assumes $300 psf for the ground floor & $75 psf for the 2nd floor
$328,275 $ 55,712 $ 875 $ 2,000 Tenant Expense $ 5,000 $ 5,000 $ 68,587 $259,688 3.46 %
BUILDING FOR SALE 301 CANAL STREET NEW YORK, NY 10013 Two-Story Retail/Commercial Building
ROUGH SURVEY
