Mixed-Use Building in Little
For Sale
$6,800,000
119 Mott St, New York, NY 10013
Two contiguous mixed-use buildings with 11 residential units and restaurant.
Property Size9,699 SF
Lot Size0.06 Acres
Days on Market268
Property Features for 119 Mott St
General Information
Standard status
Active
Size
9,699 SF
Lot size
0.06 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$189,443
Building Details
Building Size
9,699 SF
Year Built
1910
Units
11
Listing Agency:
(646) 639-2110
Listed By:
Sew L. Ang
(646) 639-2110
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 13
Last Checked: Aug 23 at 6:29AM
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 Sew L. Ang
Investment Insights
Based on property information with market context.
This is a walk-up, 5-story corner property consisting of two contiguous buildings. Located in the heart of Little Italy/Chinatown, one building is a 5-story, 8-family mixed-use building, and the other is a 3-story, 3-family mixed-use building. The property features a total of 11 large residential units with a restaurant on the ground floor. The apartment layout includes 3 studios, 4 one-bedroom units, and 4 two-bedroom units. The property also has 5,543 square feet of unused air rights. It is located near public transportation, restaurants, shopping, and municipal buildings.
Key Highlights
- Prime location at the heart of Little Italy/Chinatown.
- Two contiguous mixed‑use buildings with a total of 11 residential units and a restaurant.
- Mix of apartment layouts: 3 Studios, 4 One‑Bedrooms, and 4 Two‑Bedrooms.
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
$309,156
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
4.55%
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%
$6,183,120
$6.2M
Cap Rate 7%
$4,416,514
$4.4M
Cap Rate 9%
$3,435,067
$3.4M
Market Conditions
NOI Build-Up for 9,699 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
$581.9K $60.00/SF
− Vacancy
−$87.3K −$9.00/SF
EGI
$494.6K $51.00/SF
− OpEx
−$185.5K −$19.13/SF
NOI
$309.2K $31.88/SF
Area
New York, NY
Vacancy
15.00%
Lease Rate
$60.00 /SF/Yr
Expense Ratio
37.50%
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%
$6,183,120
Cap Rate 7%
$4,416,514
Cap Rate 9%
$3,435,067
Alternative Uses
Best Use
Specialty Retail
$24.14M
$21.12M – $28.17M
NOI $1,689,954 @ 7.0% cap · market cap 24.85%
Second Best
Retail
$19.50M
$17.06M – $22.75M
NOI $1,364,887 @ 7.0% cap · market cap 20.07%
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
30,870
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 - Two contiguous mixed-use buildings with 11 residential units and restaurant.
Where is this mixed-use property located?
The property is located at 119 Mott St New York, NY.
What is the asking price?
The asking price for this property is $6,800,000.
What are key features of this property?
This property features: Prime location at the heart of Little Italy/Chinatown.; Two contiguous mixed‑use buildings with a total of 11 residential units and a restaurant.; Mix of apartment layouts: 3 Studios, 4 One‑Bedrooms, and 4 Two‑Bedrooms.
