Three-Story Mixed-Use
For Sale
$7,250,000
113 Ludlow St, New York, NY 10002
Commercial Sale, New York, NY
Property Size4,500 SF
Lot Size0.04 Acres
Price / SF$1,611
Days on Market222
Property Features for 113 Ludlow St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
5
Full bathrooms
1
Half bathrooms
4
Rooms
Bathroom 3, Bathroom 5, Bathroom 2, Bathroom 1, Bathroom 4
Security features
Security System
Subdivision
Lower East Side / Delancey / Essex
High school district
1
Directions
Google maps app never fails , close to the Delancey - Essex St subway station .
Standard status
Active
APN
0410-0024
Size
4,500 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
51579
Utilities
Heating system
Electric (Heating)
Water source
Public
Building Details
Year built
1900
Floors in Building
3
Flooring type
Hardwood
Building materials
Brick
Roof type
Rubber
Listing Agency:
Epique Realty
(646) 577-5496
Listed By:
Luis Vega · License #10401273758
(888) 893-3537
Added: Feb 25
Changed: Sep 20
Last Checked: Oct 5 at 5:06AM
MLS# 11662751
Copyright © 2026 My State 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.
Located at 113 Ludlow St in Manhattan’s Lower East Side, this three-story brick mixed-use property contains 4,500 square feet. The building includes a ground-floor commercial storefront with 15-foot ceilings, a finished basement, and a mezzanine. Upper levels provide a combination of commercial and residential space, including a two-bedroom apartment on the third floor. Hardwood flooring, electric heat, a rubber roof, and public water service are among the building features. The property was built in 1900 and renovated in 2010.
The lot measures 20.37 feet by 88 feet, or approximately 1,789 square feet, and is located 0.1 miles from the Delancey St-Essex St subway station. C4-4A zoning allows a maximum FAR of 4.0, with approximately 7,000 square feet of total buildable potential and approximately 3,700 square feet of unused development rights.
The lot measures 20.37 feet by 88 feet, or approximately 1,789 square feet, and is located 0.1 miles from the Delancey St-Essex St subway station. C4-4A zoning allows a maximum FAR of 4.0, with approximately 7,000 square feet of total buildable potential and approximately 3,700 square feet of unused development rights.
Key Highlights
- 4,500‑square‑foot, three‑story mixed‑use building at 113 Ludlow St
- Ground‑floor storefront with 15 ft. ceilings, finished basement, and mezzanine
- Upper floors include commercial and residential units, including a third‑floor two‑bedroom apartment
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
$638,742
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
8.81%
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%
$12,774,840
$12.8M
Cap Rate 7%
$9,124,886
$9.1M
Cap Rate 9%
$7,097,133
$7.1M
Market Conditions
NOI Build-Up for 4,500 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
$1.07M $237.72/SF
− Vacancy
−$157.3K −$34.94/SF
EGI
$912.5K $202.78/SF
− OpEx
−$273.7K −$60.83/SF
NOI
$638.7K $141.94/SF
Area
ZIP 10002
Vacancy
14.70%
Lease Rate
$237.72 /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%
$12,774,840
Cap Rate 7%
$9,124,886
Cap Rate 9%
$7,097,133
Alternative Uses
Best Use
Retail
$9.12M
$7.98M – $10.65M
NOI $638,742 @ 7.0% cap · market cap 8.81%
Second Best
Mixed Use
$2.03M
$1.77M – $2.36M
NOI $141,750 @ 7.0% cap · market cap 1.96%
Theoretical Best
Specialty Retail
$11.20M
$9.80M – $13.07M
NOI $784,080 @ 7.0% cap · market cap 10.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
24,917
Businesses Nearby
15k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Citibank
Shops & Services
15,431 visits/mo
0.3 miles
Demographics for 10002, NY
82,155
Population
39,646
Households
2.1
Avg Household Size
41
Median Age
39%
College-Educated
71%
High-School Grad
0.8 sq mi
ZIP Area
102,694
Density / Sq Mi
$46,525
Median Household Income
$51,425
Median Earnings
$1,207
Median Rent
$808,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick construction combines a street-level retail storefront, finished basement, mezzanine, and upper-floor commercial and residential space.
Where is this mixed-use property located?
The property is located at 113 Ludlow St New York, NY.
What is the asking price?
The asking price for this property is $7,250,000.
What are key features of this property?
This property features: 4,500‑square‑foot, three‑story mixed‑use building at 113 Ludlow St; Ground‑floor storefront with 15 ft. ceilings, finished basement, and mezzanine; Upper floors include commercial and residential units, including a third‑floor two‑bedroom apartment
