Manhattan | McDonalds and Bank of America — Sale in New York, NY
- Price: Contact for price
- Listing type: For sale
- Asset type: Retail Business
- Location: New York, NY 10040
Photos
Investment Figures
- Cap rate
- 5.75%
Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.
Description
Marcus & Millichap is pleased to offer 4748 – 4754 Broadway, a 9,975 square foot retail building on one of the busiest corners in Upper Manhattan. Located in Inwood at the intersection of Broadway and Dyckman Street, the property is fully occupied across four units and anchored by McDonald's and Bank of America, both on corporate leases that together account for the majority of the rent. Bank of America holds two five-year options at 12.0% increases that would carry its lease to 2039, and an ICAP abatement running through 2034 keeps the expense load low. Offered at $13,900,000 and a 5.75% cap rate, the building gives an investor stabilized national credit income on a Manhattan corner with a subway entrance at the door and unused air rights on a C4-4 lot for the long term. Investment Highlights: • Prime corner location featuring McDonald's and Bank of America • An entrance to the A train is steps away from the property and the 1 train is nearby • Hard corner of Broadway and Dyckman Street with 95 feet of Broadway frontage and 94 feet on Dyckman • This location houses the only McDonald's and Bank of America in the surrounding Zip Code
Market Context
This retail in New York, NY is listed for sale. It is offered at an approximate 5.8% capitalization rate, a key benchmark for income-producing retail assets. Compare it against other retail listings for sale in New York, NY — view the full market.
Estimated Price per SF
$473.56/SF – $3,444/SF
Mid: $1,435/SF
About 8 in 10 recent recorded sales fell within a range this wide around the estimate. An automated estimate, not an appraisal.
Contact
- Michael Kook
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