Renovated Office
For Sale
Contact for pricing
120 E 36th St unit 1G, New York, NY 10016
Quiet, light-filled professional suite with two offices, a waiting area, and direct outdoor access.
Property Size600 SF
Price / SF$648.33
Days on Market146
Property Features for 120 E 36th St unit 1G
General Information
Standard status
Active
Size
600 SF
Property subtype
Office
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Amenities
direct outdoor access
newly renovated lobby
doorman
Building Details
Abandoned
No
Listing Agency:
R New York
Listed By:
Katharine Baum · License #10491204318
Source:
Crexi
Added: Apr 8
Changed: Aug 30
Last Checked: Aug 30 at 10:21AM
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 R New York
Investment Insights
Based on property information with market context.
This approximately 600-square-foot office unit at 120 E 36th St, Unit 1G, is arranged with two private offices and a separate waiting room. The suite benefits from natural light, a quiet orientation away from the street, and direct access to outdoor space. Gas, water, and electric service are in place, with active gas and water lines that support potential kitchen installation. The space was reconfigured from its original one-bedroom apartment layout and retains full utility infrastructure.
The property is located in the Stimson House near Grand Central and Herald Square. Subway access includes the 4/5/6 and 7 lines, along with the B/D/F, M, and W services. Building features include a renovated lobby and a doorman on site during business hours.
The property is located in the Stimson House near Grand Central and Herald Square. Subway access includes the 4/5/6 and 7 lines, along with the B/D/F, M, and W services. Building features include a renovated lobby and a doorman on site during business hours.
Key Highlights
- Approximately 600 square feet with two offices and a separate waiting room
- Direct outdoor access from the office unit
- Gas, water, and electric service 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
$18,788
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
4.83%
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%
$375,760
$375.8K
Cap Rate 7%
$268,400
$268.4K
Cap Rate 9%
$208,756
$208.8K
Market Conditions
NOI Build-Up for 600 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
$30.9K $51.48/SF
− Vacancy
−$5.8K −$9.73/SF
EGI
$25.1K $41.75/SF
− OpEx
−$6.3K −$10.44/SF
NOI
$18.8K $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%
$375,760
Cap Rate 7%
$268,400
Cap Rate 9%
$208,756
Alternative Uses
Best Use
Office B
$268.4K
$234.9K – $313.1K
NOI $18,788 @ 7.0% cap · market cap 4.83%
Second Best
Healthcare Medical
$255.5K
$223.6K – $298.1K
NOI $17,885 @ 7.0% cap · market cap 4.60%
Theoretical Best
Specialty Retail
$1.49M
$1.31M – $1.74M
NOI $104,544 @ 7.0% cap · market cap 26.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
82,950
Businesses Nearby
Explore this area
Business Placement
Demographics for 10016, NY
62,336
Population
36,985
Households
1.7
Avg Household Size
34
Median Age
82%
College-Educated
97%
High-School Grad
0.5 sq mi
ZIP Area
124,672
Density / Sq Mi
$153,065
Median Household Income
$107,691
Median Earnings
$3,321
Median Rent
$928,400
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?
Office units - Quiet, light-filled professional suite with two offices, a waiting area, and direct outdoor access.
Where is this office units located?
The property is located at 120 E 36th St unit 1G New York, NY.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: Approximately 600 square feet with two offices and a separate waiting room; Direct outdoor access from the office unit; Gas, water, and electric service are already in place
