Manhattan Net-Leased Bank
For Sale
Contact for pricing
127 7th Ave, New York, NY 10011
Net-leased M&T Bank in Chelsea, Manhattan with renewed lease.
Property Size2,340 SF
Price / SF$4,298
Days on Market146
Property Features for 127 7th Ave
General Information
Standard status
Active
Size
2,340 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Net Lease
Net Operating Income
$553,260
Building Details
Year Built
2008
Tenancy
Single
Listing Agency:
Encore Real Estate Investment Services
(248) 702-0288
Listed By:
Deno Bistolarides · License #6502378067
Source:
Crexi
Added: Mar 19
Changed: Aug 8
Last Checked: Aug 8 at 6:33AM
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 Encore Real Estate Investment Services
Investment Insights
Based on property information with market context.
This net-leased single-tenant bank asset is located at 127 7th Avenue in Manhattan's Chelsea neighborhood. The 2,340 square foot property is leased to M&T Bank. The lease has been renewed with an early option exercise, extending the term to 2033. The property generates a net operating income (NOI) of $553,260. The property benefits from high visibility and foot traffic, and is located near key amenities.
Key Highlights
- Brand‑new lease renewal with M&T Bank extending to 2033, guaranteeing stable income.
- Located in a prime, high‑traffic location in Manhattan's Chelsea neighborhood.
- Net Operating Income (NOI) of $553,260.
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
$407,722
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
4.05%
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%
$8,154,440
$8.2M
Cap Rate 7%
$5,824,600
$5.8M
Cap Rate 9%
$4,530,244
$4.5M
Market Conditions
NOI Build-Up for 2,340 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
$617.8K $264.00/SF
− Vacancy
−$74.1K −$31.68/SF
EGI
$543.6K $232.32/SF
− OpEx
−$135.9K −$58.08/SF
NOI
$407.7K $174.24/SF
Area
New York, NY
Vacancy
12.00%
Lease Rate
$264.00 /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%
$8,154,440
Cap Rate 7%
$5,824,600
Cap Rate 9%
$4,530,244
Alternative Uses
Best Use
Specialty Retail
$5.82M
$5.10M – $6.80M
NOI $407,722 @ 7.0% cap · market cap 4.05%
Second Best
Retail
$4.70M
$4.12M – $5.49M
NOI $329,295 @ 7.0% cap · market cap 3.27%
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
41,706
Businesses Nearby
Explore this area
Business Placement
Demographics for 10011, NY
53,318
Population
35,049
Households
1.5
Avg Household Size
39
Median Age
79%
College-Educated
96%
High-School Grad
0.6 sq mi
ZIP Area
88,863
Density / Sq Mi
$146,571
Median Household Income
$113,503
Median Earnings
$2,868
Median Rent
$1,165,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - Net-leased M&T Bank in Chelsea, Manhattan with renewed lease.
Where is this bank located?
The property is located at 127 7th Ave New York, NY.
What is the asking price?
The asking price for this property is $10,059,272.
What are key features of this property?
This property features: Brand‑new lease renewal with M&T Bank extending to 2033, guaranteeing stable income.; Located in a prime, high‑traffic location in Manhattan's Chelsea neighborhood.; Net Operating Income (NOI) of $553,260.
