Uptown 58, 58 West 129th St, COMMERCIAL

Price Upon Request
Commercial / Office

AGENTS

Arthur Maglio
Arthur Maglio
  • Licensed Associate Real Estate Broker
Faith Hope Consolo
Faith Hope Consolo

Property Description

.Commercial condo with 2,375 square feet of space on the ground level
.Located at the base of Uptown58, a new luxury condominium in Harlem
.Restricted to community facility uses only
.Triple net (NNN) lease in place with The National Jazz Museum in Harlem, an organization founded in 1997
.421A Tax Abatement in place until June 2030
.Close proximity to Harlem Hospital and the Lenox Avenue retail/restaurant corridor
.Centrally located four blocks from the 2 and 3 train stop at 125th Street & Lenox Avenue, six block from the Metro North Railroad 125th Street Station

SPACE / SIZEGround Level - Approx. 2,375 SF
TENANTThe National Jazz Museum in Harlem
TYPE OF LEASETriple Net (NNN)
LEASE TERMFive (5) Years
RENT ESCALATIONTwo (2) percent per annum

INCOME

Annual Base Rent ($40 psf)
$95,000.00

EXPENSES

Projected Annual Common Charges $11,023.00
Projected Annual R. E. Taxes With 421-A$5,650.00
Total Expenses $16,673.00
ASKING PRICE (6% CAP RATE) $1,580,000.00
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PROPERTY DETAILS

  • Interior
    2,375 Sq Ft.
  • Property Type
    Commercial / Office
  • Year Built
    2014
  • MLS/Listing ID
    2218132