Harlem

$10,000,000

2391 Frederick Douglass Boulevard, New York, NY 10027

For Sale

Mixed Use Residential/Retail

Active

Last Updated: 06/29/2026

Details:

Cap Rate: 5.1%

NOI: $573,202.84

Pro Forma Cap Rate : 5.7%

Building Size: 13,830 sqft

Lot Area: 6,000 sqft

Occupancy: 100%

Zoning: R8A Equivalent (5.4) with a bonus of 7.20 for Mandatory Inclusionary Housing

Floors: 4

Seller Financing: No

Opportunity Zone: Yes

Offered by

Kervin Vales

Licensed Real Estate Person

Brown Harris Stevens

Request Info to Unlock

Description:

A package of two mixed-use buildings on Frederick Douglas Blvd along with a two story commercial building located at 303 West 128th Street. 2391 Frederick Douglas Blvd is a 25’ wide four unit four story corner mixed-use building. 2391 Frederick Douglas Blvd is a 25’ wide three unit four story mixed-use building. 303 West 128th Street is a two story commercial building.

Located in prime Harlem, the property is a prime investment and development opportunity. Since the apartments are free market the investor can renovate them and the common areas and increase rents. The investor can have the tenants pay for their own utilities or combine the apartments to get higher rents. The five stores is an added bonus since they have a great corner location and within walking distance to the A, C, B and D trains on 125th & Saint Nicholas Avenue. They will always be a strong demand for them

The zoning, lot size makes the property a prime development opportunity. The zoning allows a 43,056 square feet property to be built, this would include inclusionary housing. The apartments can be a mixture of one and two-bedroom apartments.