Chinatown Corner Mixed-Use
274 Canal St New York, NY 10013
For Sale
$14,000,000
Four-story commercial building with approved plans in prime Chinatown location.
Property Size4,878 SF
Price / SF$2,870
Days on Market93
Property Features for 274 Canal St
General Information
- Standard status
- Active
- Size
- 4,878 SF
- Property subtype
- Commercial
Listing Agency:
Ashford Homes LLC
(929) 364-1301
Listed By:
Ray Long Wu
(929) 364-1301
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 25 at 6:00AM
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 Ashford Homes LLC
Investment Insights
Based on property information with market context.
Located in the prime Chinatown area, this four-story corner commercial building has approved plans for mixed-use development. The proposed plan includes 4878 square feet of commercial space and 1626 square feet of residential space. The property is zoned M1-5 and is being sold as is. The location is considered a biker's paradise with a bike score of 92, a walker's paradise with a walk score of 100, and a rider's paradise with a transit score of 100.
Key Highlights
- Prime Chinatown location.
- Approved plan for mixed‑use development with 4878 SF commercial and 1626 SF residential space.
- M1‑5 Zoning.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.15M | $235.68 |
| − Vacancy | −$169.0k | −$34.64 |
| EGI | $980.6k | $201.04 |
| − OpEx | −$294.2k | −$60.31 |
| NOI | $686.5k | $140.72 |
4,878 SF · lease $235.68/SF/yr · vacancy 14.70% · expense 30.00%
Alternative Uses
Best Use
Retail
$9.81M
$8.58M – $11.44M
NOI $686,454 @ 7.0% cap · market cap 4.90%
Second Best
Mixed Use
$2.22M
$1.94M – $2.59M
NOI $155,486 @ 7.0% cap · market cap 1.11%
Theoretical Best
Specialty Retail
$12.14M
$10.62M – $14.17M
NOI $849,943 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
FAQs
What type of property is this?
Mixed-use property - Four-story commercial building with approved plans in prime Chinatown location.
Where is this mixed-use property located?
The property is located at 274 Canal St New York, NY.
What is the asking price?
The asking price for this property is $14,000,000.
What are key features of this property?
This property features: Prime Chinatown location.; Approved plan for mixed‑use development with 4878 SF commercial and 1626 SF residential space.; M1‑5 Zoning.
