Miscellaneous
Net-Leased Corner Harlem Retail
61 Lenox Ave, New York, NY 10026
Listing Price: $637,000
Investment Overview
The subject offering is a 1,430-square-foot retail condominium located on the corner of Lenox Avenue and W. 113th Street in Upper Manhattan’s Harlemneighborhood. The unit has a total square footage of 2,757 SF, with 1,430 SF at grade and an additional 1,327-square-foot lower level. The unit is built 50 x 29, with fifty feet of retail frontage along Lenox Avenue.
The offering is leased to Dry Clean NYC on a ten-year lease that runs through January 2032. The tenant has 3% annual increases and reimburses for real estate taxes above the base year (2022/2023). There are no options to renew. Dry Clean NYC operates five locations between Manhattan and the Bronx. This is a dropoff only site; no actual dry cleaning is performed on the premises.
This unit has no use restrictions, and venting is permitted. The offering occupies the ground floor of the Parc Vues, a five-story, 15-unit pre-war building that was converted to condominiums in 2006.
This is an opportunity to acquire a corner, 100% occupied retail asset with below-market rent and no use restrictions. The property is three blocks from Central Park and three blocks from the 110th Street Train Station (2 and 3 Trains). Thousands of housing units are located within just a few blocks.
Net-Leased Corner Harlem Retail
Investment Highlights
- Corner retail condominium on Lenox Avenue and W. 113th Street, just three blocks from Central Park and the 110th Street (2 & 3 trains) subway station. 50 feet of retail frontage along Lenox Avenue.
- 100% occupied by Dry Clean NYC under a 10-year lease through January 2032, with 3% annual increases and tax reimbursements. Established tenants with five NYC locations.
- No use restrictions and venting is permitted. Rare corner retail opportunity with a below-market rent and sub $1M price point.
Exclusively Listed By
Listing Price: $637,000
Investment Highlights
- Corner retail condominium on Lenox Avenue and W. 113th Street, just three blocks from Central Park and the 110th Street (2 & 3 trains) subway station. 50 feet of retail frontage along Lenox Avenue.
- 100% occupied by Dry Clean NYC under a 10-year lease through January 2032, with 3% annual increases and tax reimbursements. Established tenants with five NYC locations.
- No use restrictions and venting is permitted. Rare corner retail opportunity with a below-market rent and sub $1M price point.
Investment Overview
The subject offering is a 1,430-square-foot retail condominium located on the corner of Lenox Avenue and W. 113th Street in Upper Manhattan’s Harlemneighborhood. The unit has a total square footage of 2,757 SF, with 1,430 SF at grade and an additional 1,327-square-foot lower level. The unit is built 50 x 29, with fifty feet of retail frontage along Lenox Avenue. The offering is leased to Dry Clean NYC on a ten-year lease that runs through January 2032. The tenant has 3% annual increases and reimburses for real estate taxes above the base year (2022/2023). There are no options to renew. Dry Clean NYC operates five locations between Manhattan and the Bronx. This is a dropoff only site; no actual dry cleaning is performed on the premises. This unit has no use restrictions, and venting is permitted. The offering occupies the ground floor of the Parc Vues, a five-story, 15-unit pre-war building that was converted to condominiums in 2006. This is an opportunity to acquire a corner, 100% occupied retail asset with below-market rent and no use restrictions. The property is three blocks from Central Park and three blocks from the 110th Street Train Station (2 and 3 Trains). Thousands of housing units are located within just a few blocks.
Exclusively Listed By
To view property details and documents, sign up for a free MyMMI account.
Explore exclusive listings, access research insights, and set up automated alerts for a personalized experience. Sign up now to elevate your property search.
