48 Mac Dougal St. #BLDG

A three story, mixed-use, walk-up building located on the east side of Macdougal Street between Houston and Prince Streets. The building consists of a ground floor restaurant and two duplex apartments above. The ground floor is leased to Rouge Et Blanc for approximately $9,131/Month, with a lease through 10/31/2019 and a 5 year option to renew. The two duplex apartments have two full bathrooms, with exclusive outdoor space. The units feature large skylights, 20’ ceilings, oversized windows and a separate kitchen with a dishwasher. The property benefits from significantly low property taxes and approximately 995 SF of air rights. The property presents an excellent opportunity for a user to convert the above floors to single family residence while collecting income from the ground floor. Additionally, an investor may look to utilize the long term upside in the retail rents.