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764 Saint Nicholas Ave
2,431 SF Office/Medical Unit Offered at £512,061 in New York, NY 10031
Investment Highlights
- Commercial condominium in outstanding condition and at a LOW PRICE PER SQUARE FOOT of $267/SF!
- Can also be reverted back to residential status for the possibility of even higher returns using existing plans
- Optimally positioned to generate an 8.7% CAPITALIZATION RATE for the Buyer!
Executive Summary
This 2,431 square foot (SF) duplex commercial condominium located on the garden and basement level of 764 St. Nicholas Avenue in the Hamilton Heights/Sugar Hill Historic District is presented in outstanding condition and at a LOW PRICE PER SQUARE FOOT of $267/SF! As such, this property is optimally positioned to generate an 8.7% CAPITALIZATION RATE for the Buyer! The unit also comes with private access to a private 1000 square foot back yard, and access to the shared roof deck! While this is currently a commercial condominium, an investor can also consider reverting back to residential status for the possibility of even higher returns. To this end, architect's plans for the conversion are in the accompanying Due Diligence folder for this listing, and in the Floorplans Section. Some accompanying images are virtually staged as commercial or residential to illustrate both potential scenarios, and are marked as such This duplex consists of the two units on the lower two levels of the building, which have been combined. In addition to the high square footage, low price per square foot and outstanding capitalization rate, the duplex features central HVAC, and benefits from updated electrical, plumbing, water, drain and sprinkler systems, which were all replaced during the 2008 renovation. The monthly common charge is estimated at a very affordable $933, plus low monthly taxes of $663. The Hamilton Heights/Sugar Hill neighborhood is renowned for its graceful architecture and vibrant lifestyle, with nearby shopping and restaurants. For recreation, Jackie Robinson Park is just one block east, currently enjoying a $4.4 million upgrade of outstanding quality. The property is also located just a few steps from the 145th Street A/B/C/D express subway station, offering a 15-minute ride to midtown. With its exceptional condition, low price per square foot and expenses, and excellent location, this spacious property represents a great opportunity for either a commercial or residential developer or end-user! Contact the listing brokerage Harlem Lofts today for your private appointment. * Please note that this listing is for the duplex unit on the lower two floors of the building * Number of bedrooms/bathrooms is taken from the residential architect's plans - see listing
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
Property Facts
1 Unit Available
Unit C1/C2
| Unit Size | 2,431 SF | Sale Type | Investment or Owner User |
| Price | £512,061 | Net Initial Yield | 8.70% |
| Price Per SF | £210.64 | NOI | £44,549.31 |
| Unit Use | Office/Medical |
| Unit Size | 2,431 SF |
| Price | £512,061 |
| Price Per SF | £210.64 |
| Unit Use | Office/Medical |
| Sale Type | Investment or Owner User |
| Net Initial Yield | 8.70% |
| NOI | £44,549.31 |
Description
Showings are by appointment - please contact the listing brokerage Harlem Lofts Inc for your private tour.
This 2,431 square foot (SF) duplex commercial condominium located on the garden and basement level of 764 St. Nicholas Avenue in the Hamilton Heights/Sugar Hill Historic District is presented in outstanding condition and at a LOW PRICE PER SQUARE FOOT of $267/SF! As such, this property is optimally positioned to generate an 8.7% CAPITALIZATION RATE for the Buyer! The unit also comes with private access to a private 1000 square foot back yard, and access to the shared roof deck!
While this is currently a commercial condominium, an investor can also consider reverting back to residential status for the possibility of even higher returns. To this end, architect's plans for the conversion are in the accompanying Due Diligence folder for this listing, and in the Floorplans Section. Some accompanying images are virtually staged as commercial or residential to illustrate both potential scenarios, and are marked as such
This duplex consists of the two units on the lower two levels of the building, which have been combined. In addition to the high square footage, low price per square foot and outstanding capitalization rate, the duplex features central HVAC, and benefits from updated electrical, plumbing, water, drain and sprinkler systems, which were all replaced during the 2008 renovation. The monthly common charge is estimated at a very affordable $933, plus low monthly taxes of $663.
The Hamilton Heights/Sugar Hill neighborhood is renowned for its graceful architecture and vibrant lifestyle, with nearby shopping and restaurants. For recreation, Jackie Robinson Park is just one block east, currently enjoying a $4.4 million upgrade of outstanding quality. The property is also located just a few steps from the 145th Street A/B/C/D express subway station, offering a 15-minute ride to midtown.
With its exceptional condition, low price per square foot and expenses, and excellent location, this spacious property represents a great opportunity for either a commercial or residential developer or end-user! Contact the listing brokerage Harlem Lofts today for your private appointment.
* Please note that this listing is for the duplex unit on the lower two floors of the building
* Number of bedrooms/bathrooms is taken from the residential architect's plans - see listing
Sale Notes
Showings are by appointment - please contact the listing brokerage Harlem Lofts Inc for your private tour.
This 2,431 square foot (SF) duplex commercial condominium located on the garden and basement level of 764 St. Nicholas Avenue in the Hamilton Heights/Sugar Hill Historic District is presented in outstanding condition and at a LOW PRICE PER SQUARE FOOT of $267/SF! As such, this property is optimally positioned to generate an 8.7% CAPITALIZATION RATE for the Buyer! The unit also comes with private access to a private 1000 square foot back yard, and access to the shared roof deck!
While this is currently a commercial condominium, an investor can also consider reverting back to residential status for the possibility of even higher returns. To this end, architect's plans for the conversion are in the accompanying Due Diligence folder for this listing, and in the Floorplans Section. Some accompanying images are virtually staged as commercial or residential to illustrate both potential scenarios, and are marked as such
This duplex consists of the two units on the lower two levels of the building, which have been combined. In addition to the high square footage, low price per square foot and outstanding capitalization rate, the duplex features central HVAC, and benefits from updated electrical, plumbing, water, drain and sprinkler systems, which were all replaced during the 2008 renovation. The monthly common charge is estimated at a very affordable $933, plus low monthly taxes of $663.
The Hamilton Heights/Sugar Hill neighborhood is renowned for its graceful architecture and vibrant lifestyle, with nearby shopping and restaurants. For recreation, Jackie Robinson Park is just one block east, currently enjoying a $4.4 million upgrade of outstanding quality. The property is also located just a few steps from the 145th Street A/B/C/D express subway station, offering a 15-minute ride to midtown.
With its exceptional condition, low price per square foot and expenses, and excellent location, this spacious property represents a great opportunity for either a commercial or residential developer or end-user! Contact the listing brokerage Harlem Lofts today for your private appointment.
* Please note that this listing is for the duplex unit on the lower two floors of the building
* Number of bedrooms/bathrooms is taken from the residential architect's plans - see listing
Amenities
- Public Transport
- Air Conditioning
Nearby Major Retailers
zoning
| Zoning Code | R7-2, Manhattan (M9) |
| R7-2, Manhattan (M9) |
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Robert Pair -
Harlem Lofts
Presented by
764 Saint Nicholas Ave
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