Seven-Story Mixed-Use
For Sale
$11,000,000
91 Baxter Street New York, Manhattan, NY 10013
Commercial Sale, New York (Manhattan), NY
Property Size5,000 SF
Lot Size0.12 Acres
Price / SF$2,200
Days on Market202
Property Features for 91 Baxter Street New York
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C6-1
Rooms
Basement
Basement
Full
Standard status
Active
APN
0199-0007
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
219354
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Electric
Water source
Public
Building Details
Year built
1880
Number of units
46
Building materials
Brick
Listing Agency:
Sany Realty Group LLC
(718) 799-0726
Listed By:
Wanping Liu
(347) 925-9926
Added: Feb 8
Changed: Aug 20
Last Checked: Aug 29 at 7:06AM
MLS# 959685
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Constructed in 1880, this seven-story brick mixed-use building includes a 5,000-square-foot retail area on the first floor and 44 residential units above. The retail floor can be configured as two separate stores, providing flexibility within the commercial portion of the property. Electric heating and cooling serve the building, with electricity available and public water and sewer.
The property occupies 0.1159 acres in Chinatown at 91 Baxter Street, adjacent to Canal Street and Mott Street. C6-1 zoning supports its mixed-use classification. A basement is also included in the building configuration.
The property occupies 0.1159 acres in Chinatown at 91 Baxter Street, adjacent to Canal Street and Mott Street. C6-1 zoning supports its mixed-use classification. A basement is also included in the building configuration.
Key Highlights
- 5,000 square feet of first‑floor retail space that can be divided into 2 stores
- Seven‑story brick building constructed in 1880
- 44 residential units above the retail component
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$703,623
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.40%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$14,072,460
$14.1M
Cap Rate 7%
$10,051,757
$10.1M
Cap Rate 9%
$7,818,033
$7.8M
Market Conditions
NOI Build-Up for 5,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$1.18M $235.68/SF
− Vacancy
−$173.2K −$34.64/SF
EGI
$1.01M $201.04/SF
− OpEx
−$301.6K −$60.31/SF
NOI
$703.6K $140.72/SF
Area
New York, NY
Vacancy
14.70%
Lease Rate
$235.68 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$14,072,460
Cap Rate 7%
$10,051,757
Cap Rate 9%
$7,818,033
Alternative Uses
Best Use
Retail
$10.05M
$8.80M – $11.73M
NOI $703,623 @ 7.0% cap · market cap 6.40%
Second Best
Mixed Use
$2.28M
$1.99M – $2.66M
NOI $159,375 @ 7.0% cap · market cap 1.45%
Theoretical Best
Specialty Retail
$12.45M
$10.89M – $14.52M
NOI $871,200 @ 7.0% cap · market cap 7.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
44
Residential units
Location Intelligence
Trade Area within ½ mile
36,609
Businesses Nearby
Explore this area
Business Placement
Demographics for 10013, NY
31,042
Population
15,933
Households
1.9
Avg Household Size
36
Median Age
72%
College-Educated
89%
High-School Grad
0.5 sq mi
ZIP Area
62,084
Density / Sq Mi
$159,474
Median Household Income
$92,765
Median Earnings
$2,378
Median Rent
$2,000,001
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick building combines first-floor retail with upper-level residential units.
Where is this mixed-use property located?
The property is located at 91 Baxter Street New York Manhattan, NY.
What is the asking price?
The asking price for this property is $11,000,000.
What are key features of this property?
This property features: 5,000 square feet of first‑floor retail space that can be divided into 2 stores; Seven‑story brick building constructed in 1880; 44 residential units above the retail component
