Investment Highlights
Vacant Commercial Building with Two Multi-Story Restaurant Spaces
A+ Location in West Village Surrounded by Numerous Popular Restaurants & Bars
68 Feet of Frontage on Seventh Avenue South Between Grove & Barrow
Adjacent to Christopher Street Subway Station
Executive Summary
Marcus & Millichap is the exclusive sales broker for 91-95 Seventh Avenue South (the ?Property?), a vacant commercial building on Seventh Avenue South between Barrow and Grove Streets in the West Village. The Property has 68 feet of frontage on Seventh Avenue South, 25 feet of frontage on Barrow Street and is fully built on an irregular 68-foot by 89-foot C4-5-zoned lot. The Property has approximately 6,100 square feet of unused developable rights and is part of the Greenwich Village Historic District.Located on Seventh Avenue South between Grove and Barrow Streets, the Property is exposed to a near-constant flow of daily and nightly foot traffic due to its immediate proximity to the Christopher Street 1-Train Station, the only subway station west of Seventh Avenue servicing the entire West Village. The Property is surrounded by national tenants including Chase, Starbucks, Bank of America and CVS as well as many historic landmarks, critically acclaimed restaurants and popular nightlife that attract a regular stream of locals and tourists to the immediate area.The Property offers an investor the exceptional opportunity to enter a core West Village retail corridor on a transforming block that has typically seen long-term ownership, older retail concepts and little turnover. Over the past three years, there has been ownership turnover of the properties on either side of the Property and the beginning of a wave of new retail tenants that are transforming the immediate area. In general, the West Village is constantly in high demand by new residents for its historic appeal and extensive high-end retail offerings which has resulted in low residential vacancy, above-average commercial rents and steady rent growth over the last decade.The Property is extremely well-served by transportation. It is adjacent to the West Village?s only subway station at Christopher Street (1 line), two blocks west of the major West 4th Street subway hub (A, B, C, D, E, F, M lines) and two blocks east of the Christopher Street PATH train station. These three stations supply a constant stream of locals and tourists to the Property?s immediate area as well as quick transport to Midtown, the Upper East Side, Upper West Side, Lower Manhattan, the Financial District and Brooklyn.
