Upper West Side Mixed-Use
For Sale
Contact for pricing
973 Amsterdam Ave, New York, NY
Manhattan mixed-use building with vacant storefront and apartments.
Property Size8,292 SF
Lot Size0.10 Acres
Price / SF$361.79
Days on Market509
Property Features for 973 Amsterdam Ave
General Information
Standard status
Active
Size
8,292 SF
Lot size
0.10 Acres
Property subtype
RETAIL
Listing Agency:
ERG
(646) 253-0989
Listed By:
Salvatore Iuvara
Source:
Moodyscre
Added: Mar 21, 2025
Changed: Aug 8
Last Checked: Aug 8 at 5:22AM
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 ERG
Investment Insights
Based on property information with market context.
This is an 8,292 square foot mixed-use building located in the Upper West Side of Manhattan. The 5-story walk-up building is near the 1, 3, A, and B train lines and provides convenient access to Broadway, West 110th Street, and the Henry Hudson Parkway. The property features 25 feet of frontage on Amsterdam Avenue. The building includes a vacant storefront and nine railroad apartments, consisting of seven four-bedroom units, one one-bedroom unit, and one studio. Currently, three apartments are vacant, with two additional units involved in court proceedings.
Key Highlights
- 8,292 SF mixed‑use building in Manhattan's Upper West Side.
- Prime Manhattan Avenue location with 25’ of frontage.
- Walking distance to the 1, 3, A, and B trains.
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
$264,308
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%
$5,286,160
$5.3M
Cap Rate 7%
$3,775,829
$3.8M
Cap Rate 9%
$2,936,756
$2.9M
Market Conditions
NOI Build-Up for 8,292 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
$497.5K $60.00/SF
− Vacancy
−$74.6K −$9.00/SF
EGI
$422.9K $51.00/SF
− OpEx
−$158.6K −$19.13/SF
NOI
$264.3K $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%
$5,286,160
Cap Rate 7%
$3,775,829
Cap Rate 9%
$2,936,756
Alternative Uses
Best Use
Retail
$16.67M
$14.59M – $19.45M
NOI $1,166,888 @ 7.0% cap · market cap 38.90%
Second Best
Mixed Use
$3.78M
$3.30M – $4.41M
NOI $264,308 @ 7.0% cap · market cap 8.81%
Theoretical Best
Specialty Retail
$20.64M
$18.06M – $24.08M
NOI $1,444,798 @ 7.0% cap · market cap 48.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
372
Businesses Nearby
Explore this area
Business Placement
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 - Manhattan mixed-use building with vacant storefront and apartments.
Where is this mixed-use property located?
The property is located at 973 Amsterdam Ave New York, NY.
What is the asking price?
The asking price for this property is $2,999,999.
What are key features of this property?
This property features: 8,292 SF mixed‑use building in Manhattan's Upper West Side.; Prime Manhattan Avenue location with **25’ of frontage**.; Walking distance to the 1, 3, A, and B trains.
