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Type:
DevelopmentRetail
Units:
Property Description
Investment Property Realty Group (IPRG) has been exclusively retained to sell 7-9 Hillside Avenue, a 2,500-square-foot, single-story commercial building located in the Fort George section of Upper Manhattan, just off Broadway.
The property is fully occupied under a triple-net (NNN) lease through March 2031, providing investors with stable in-place cash flow and minimal landlord responsibilities. In addition to the current income, the property offers significant long-term upside with substantial unused development rights.
Highlights
- NNN Lease Through March 2031 – Tenant is responsible for 100% of real estate taxes, utilities and water
- 3% Annual Rent Increases beginning in Year 3
- R7-2 Zoning | ~ 8,600 buildable SF (as-of-right) & 12,525 buildable SF (city-of-yes)
- Development Rights Preserved During Lease Term – Lease permits ownership to develop, enlarge or vertically expand the existing building,
including adding floors or converting the property to mixed-use, without tenant consent.
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Block & Lot:
2170-104
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Neighborhood:
Fort George
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Cross Streets:
Southside of Hillside Avenue off of Broadway
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Building Dimensions:
25’ x 100’
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Lot Dimensions:
25’ x 100’
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Units:
1
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Zoning:
R7-2
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FAR:
3.44
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Tax Class:
4
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West Village, Manhattan, New York
314 WEST 14TH STREET: LOWER LEVEL, 4TH & 5TH FLOOR
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