For Sale
$2,900,000 | 6.16% Cap Rate
208 East 14th Street, New York, NY 10003
New OM Download
New OM Download
Broker of Record: Jeremy Halback | Bridgeline Real Estate LLC | NY License #: 10991243264
| Facility Type | Building Area (SF) | Years Remaining | Net Operating Income |
|---|---|---|---|
| Single Tenant | 1,064 Square Feet |
3.1 Years | $178,570 |
Investment Highlights
ASSUMABLE 4.05% FINANCING - $1,825,000 of interest-only CMBS debt in place at 4.05% through March 2030 delivers a 9.64% cash-on-cash return at the $2,900,000 offering price.
2.5% ANNUAL RENT INCREASES - Rent steps 2.5% every October through the November 2029 expiration, then 3% annually through the 5-year option starting at $216,103.
FRANCHISEE GUARANTY - Rent is guaranteed jointly and severally by Copley Coffee Holdings, LLC and Copley Coffee 2, LLC, the group behind 30 Dunkin' stores in Manhattan.
STEPS FROM THE 3RD AVE L - Mid-block on East 14th Street by the 3 Av L station entrance, two blocks from the 14 St-Union Square hub serving the 4, 5, 6, L, N, Q, R and W lines.
ON SITE SINCE 2014 - Dunkin' has operated here since December 2014. Copley took over the lease in 2019 as part of a 15-store Manhattan acquisition.
DENSE, HIGH-INCOME TRADE AREA - 254,000+ residents within one mile with average household income above $212,000 (ACS 2024), plus NYU, Con Edison headquarters and Union Square foot traffic.
| Facility Type | Building Area (SF) | Years Remaining | Net Operating Income |
|---|---|---|---|
| Single Tenant | 1,064 Square Feet |
3.1 Years | $178,570 |
OVERVIEW - Peranich Huffman Net Lease Group is pleased to offer the 1,064 SF ground-floor retail condominium at 208 East 14th Street in Manhattan, leased to Dunkin'. The unit is offered at $2,900,000, a 6.16% cap rate, with assumable financing that produces a 9.64% cash-on-cash return.
NET LEASE STRUCTURE - Tenant reimburses real estate tax increases over the base year and condominium common charges, pays its own utilities and insurance, and maintains and replaces the HVAC. Landlord is responsible for the roof and structure.
LEASE TERM - Dunkin' has operated here since 2014. The lease runs through November 30, 2029 with 2.5% annual increases, followed by one 5-year option at $216,103 with 3% annual increases.
FRANCHISEE GUARANTY - Rent is guaranteed jointly and severally by Copley Coffee Holdings, LLC and Copley Coffee 2, LLC. Copley Coffee is the largest Dunkin' franchisee in Manhattan, with 30 stores, backed by Copley Equity Partners.