303 W 116th Street

Description

Residential and Commercial Mixed-Use Opportunity in South Harlem Income + Upside Turnkey rent-producing asset with amazing potential. This classic 5-story brick building offers four full floor-residential apartments above a highly visible ground floor retail space, all strategically located on one of Harlem's busiest East-West corridors. With 6,590+ square feet of total space, classic character, brick facade, hardwood floors, high ceilings- this property combines strong existing cash flow with serious chances to add value. Reliable rental income from retail plus four residential units, great base income from day one! The ground-floor commercial space was home to LoLo's Seafood Shack, a neighborhood staple that thrived in this location for a decade. The commercial space offers excellent visibility, constant foot traffic, and strong demand for dining and retail concepts. In addition, your income generating property features a full basement with direct access to the backyard, offering excellent potential for storage, expansion or additional use. Lot & Footprint: Built on a ~20' x 100.92' lot, with ~20' x 63' building footprint. Transit & location: walkability & transit access. Steps to B/C trains, close to 2/3 lines. Minutes to Columbia University, Morningside Park, great dining on Frederick Douglass Blvd. All units are delivered vacant; strong possibility to reconfigure the top floors or add value via renovation. Zoning & Flexibility: R7A / R8A zoning with a C1-4 commercial overlay offers options. Rent Roll available upon request.