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216 Third Ave
New York, NY 10003 Gramercy Park

$5,250,000 USD

Storefront Retail Residential For Sale  •  4,320 SF

Property Details

  • Property Type Storefront Retail Residential
  • Total Building Size 4,320 SF
  • Lot Size 0.02 AC
  • Building Class C
  • Year Built 1900
  • Cap Rate 5.72 %
  • Tenancy Multiple
  • Zoning C1-9A
100 Transit Score
100 Walk Score

Highlights

Fully leased mixed-use investment property
Prime Third Avenue frontage in Gramercy
Valuable unused air rights for future development
Strong retail corridor with heavy pedestrian traffic
100% occupied with established tenants
Long-term value-add and redevelopment potential

Financial Summary (Actual)

Net Operating Income: $300,389 USD (2026)
Cap Rate: 5.72 %
Total Expenses: $110,119 USD

Major Tenants

Tenant SF Occupied Lease End Date
A Spice Lane 6/30/2027

Amenities

  • Bus Line
  • Metro/Subway

Public Transportation

Commuter RailDriveWalkDistance
23 St (PATH) (Hoboken-33rd Street - Port Authority Trans-Hudson (PATH), Journal Square-33rd Street - Port Authority Trans-Hudson (PATH)) 3 min 14 min 0.7 mi
14 St (PATH) (Hoboken-33rd Street - Port Authority Trans-Hudson (PATH), Journal Square-33rd Street - Port Authority Trans-Hudson (PATH)) 3 min 15 min 0.8 mi
Transit/SubwayDriveWalkDistance
3 Avenue (L - New York MTA Subway (The Subway)) 1 min 5 min 0.2 mi
14 Street-Union Square (4 - New York MTA Subway (The Subway), 5 - New York MTA Subway (The Subway), 6 - New York MTA Subway (The Subway), L - New York MTA Subway (The Subway), N - New York MTA Subway (The Subway), Q - New York MTA Subway (The Subway), R - New York MTA Subway (The Subway)) 1 min 8 min 0.4 mi
23 Street (4,6 Line) (4 - New York MTA Subway (The Subway), 6 - New York MTA Subway (The Subway)) 2 min 7 min 0.4 mi
1 Avenue (L - New York MTA Subway (The Subway)) 2 min 10 min 0.5 mi
23 Street (N,R Line) (N - New York MTA Subway (The Subway), R - New York MTA Subway (The Subway)) 3 min 10 min 0.5 mi
AirportDriveWalkDistance
LaGuardia 19 min - 9.2 mi
Newark Liberty International 23 min - 13.5 mi
John F Kennedy International 29 min - 17.3 mi
Asher Abadi 305-807-5223 OneCore Realty
Asher Abadi 305-807-5223 OneCore Realty