Tribeca Two-Story Loft-Retail
For Sale
$2,998,000
106 Duane St, New York, NY 10007
Two-story loft-retail condo in prime Tribeca location.
Property Size5,500 SF
Days on Market151
Property Features for 106 Duane St
General Information
Standard status
Active
Size
5,500 SF
Property subtype
Commercial
Building Details
Building Size
5,500 SF
Listing Agency:
Douglas Elliman Commercial | New York
(917) 882-4537
Listed By:
Yanbin (Jeff) Guo
(917) 882-4537
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 8 at 6:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Douglas Elliman Commercial | New York
Investment Insights
Based on property information with market context.
Located at 106 Duane Street, #COM, New York, NY 10007, this two-story loft-retail condo is situated in a boutique residential building that features four full-floor condominium apartments across six floors. The commercial space benefits from an imposing three-column presence and a central location in the heart of Tribeca. The store is suitable for a small professional service company or a start-up, such as a restaurant, bar, deli, bakery, gallery, showroom, or office. The property includes two exhaust systems, three refrigerated cold rooms, and a fully equipped kitchen. The location experiences high foot traffic and is near Federal Plaza, the NYS Insurance Fund, Lower Manhattan Courthouses, City Hall, the NYS Supreme Court, NYC Police Department, and several hotels. Subway stations (1, 2, 3, A, C, R, W, J, Z, 4, 5, 6) are located within a several-block radius.
Key Highlights
- Prime Tribeca location with high foot traffic, ideal for various businesses.
- Fully equipped kitchen and three refrigerated cold rooms already installed.
- Two exhaust systems are already in place.
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
$172,220
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
5.74%
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%
$3,444,400
$3.4M
Cap Rate 7%
$2,460,286
$2.5M
Cap Rate 9%
$1,913,556
$1.9M
Market Conditions
NOI Build-Up for 5,500 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
$283.1K $51.48/SF
− Vacancy
−$53.5K −$9.73/SF
EGI
$229.6K $41.75/SF
− OpEx
−$57.4K −$10.44/SF
NOI
$172.2K $31.31/SF
Area
New York, NY
Vacancy
18.90%
Lease Rate
$51.48 /SF/Yr
Expense Ratio
25.00%
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%
$3,444,400
Cap Rate 7%
$2,460,286
Cap Rate 9%
$1,913,556
Alternative Uses
Best Use
Specialty Retail
$13.69M
$11.98M – $15.97M
NOI $958,320 @ 7.0% cap · market cap 31.97%
Second Best
Retail
$11.06M
$9.67M – $12.90M
NOI $773,985 @ 7.0% cap · market cap 25.82%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
38,250
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 10007, NY
8,421
Population
3,711
Households
2.3
Avg Household Size
35
Median Age
86%
College-Educated
98%
High-School Grad
0.2 sq mi
ZIP Area
42,105
Density / Sq Mi
$250,001
Median Household Income
$150,470
Median Earnings
$3,501
Median Rent
$2,000,001
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Two-story loft-retail condo in prime Tribeca location.
Where is this storefront property located?
The property is located at 106 Duane St New York, NY.
What is the asking price?
The asking price for this property is $2,998,000.
What are key features of this property?
This property features: Prime Tribeca location with high foot traffic, ideal for various businesses.; Fully equipped kitchen and **three refrigerated cold rooms already installed**.; Two exhaust systems are already in place.
