Exceptional investment opportunity in the heart of Inwood/Washington Heights. This fully leased commercial property is occupied by a well-established neighborhood deli operating under a Triple Net (NNN) lease, providing investors with stable income and minimal landlord responsibilities. Under the current lease structure, the tenant is responsible for real estate taxes, utilities, maintenance, and operating expenses. The property consists of an approximately 2,500 SF retail building situated on a 25' x 100' lot (2,500 SF) and is located within an R7-2 zoning district, offering significant long-term redevelopment potential. The current lease includes scheduled rent increases, generating annual rental income of approximately $82,800 through 2027, increasing to $85,284 in 2028, $87,840 in 2029, and $90,468 thereafter, creating built-in income growth for future ownership. In addition to strong cash flow, the property offers substantial upside through its development potential. The R7-2 zoning allows for approximately 8,600 buildable square feet, making this an attractive long-term hold for investors and developers alike. This asset presents a unique opportunity to benefit from both current returns and future appreciation. Conveniently located near the A and 1 subway lines, major bus routes, schools, parks, and neighborhood retail, the property benefits from strong visibility, steady foot traffic, and a dense residential population. Property HighlightsAsking Price: $1,450,000Triple Net (NNN) LeaseEstablished Deli TenantCurrent Annual Rent: $82,800Scheduled Rent Increases Through Lease TermLot Size: 25' x 100' (2,500 SF)Existing Building: Approx. 2,500 SFR7-2 ZoningApprox. 8,600 Buildable SFStrong Income with Future Development PotentialIdeal for Investors, 1031 Exchange Buyers, and Developers Financials and lease information available upon request. Showings by appointment only.
Details
MLS #
928079
Listing Type
For Sale
Style
Other
Sub-Type
Resale
Status
Active
Year
1960
Days On Site
371
Listing Provided By
ADCNY Realty Corp | Bruno F. Ruiz-Castano
Features
SQ Feet
2,500
Basement
Y
Story(s)
1
Zoning
R7-2
Interior
Cooling
Ductless
Heating
Other
Exterior
Construction Materials
Block, Other
Foundation Details
Other
Utilities
Utilities
See Remarks
Sewer
Public Sewer
Taxes
Tax Year
2024
Tax Annual Amount
21377
Area Information
State
NY
County
New York (Manhattan)
City
New York (Manhattan)
Zip Code
10040
Sourced by Back At You
MLS Number: 928079
Bruno F. Ruiz-Castano – (917) 659-6162 – adcnyrealty@gmail.com
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the OneKey® MLS
MLS Number: 928079
Bruno F. Ruiz-Castano – (917) 659-6162 – adcnyrealty@gmail.com
