Office
For Sale
$950,000
128 Mott Street, New York, NY 10013
Commercial, New York, NY
Property Size1,197 SF
Lot Size0.32 Acres
Price / SF$793.65
Days on Market186
Property Features for 128 Mott Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
C6-2G
Subdivision
China Town
Standard status
Active
Size
1,197 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Annual Amount
11035
Building Details
Year built
1912
Number of units
1
Building materials
Block
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Allan H. Zhu · License #AHZ7089
(646) 318-2333
Added: Mar 13
Changed: Sep 6
Last Checked: Sep 14 at 3:06AM
MLS# 499615
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This office condominium contains 1,197 square feet within a 1912-built block construction building. The unit is identified for immediate occupancy, and the available information indicates that no renovation is required before use. C6-2G zoning supports its commercial positioning, while the office format can accommodate professional-service operations described for the property.
The unit is at 128 Mott Street in New York, NY 10013, within Manhattan's Little Italy and Chinatown areas. The surrounding corridor includes restaurants, retail businesses, and residential buildings, providing an established mix of commercial and residential activity. Its location is also described as accessible and supported by pedestrian activity.
The unit is at 128 Mott Street in New York, NY 10013, within Manhattan's Little Italy and Chinatown areas. The surrounding corridor includes restaurants, retail businesses, and residential buildings, providing an established mix of commercial and residential activity. Its location is also described as accessible and supported by pedestrian activity.
Key Highlights
- 1,197‑square‑foot office condominium at 128 Mott Street, New York, NY 10013
- C6‑2G zoning
- 1912 construction with block materials
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
$37,481
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
3.95%
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%
$749,620
$749.6K
Cap Rate 7%
$535,443
$535.4K
Cap Rate 9%
$416,456
$416.5K
Market Conditions
NOI Build-Up for 1,197 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
$61.6K $51.48/SF
− Vacancy
−$11.6K −$9.73/SF
EGI
$50.0K $41.75/SF
− OpEx
−$12.5K −$10.44/SF
NOI
$37.5K $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%
$749,620
Cap Rate 7%
$535,443
Cap Rate 9%
$416,456
Alternative Uses
Best Use
Office B
$535.4K
$468.5K – $624.7K
NOI $37,481 @ 7.0% cap · market cap 3.95%
Second Best
Healthcare Medical
$509.7K
$446.0K – $594.7K
NOI $35,680 @ 7.0% cap · market cap 3.76%
Theoretical Best
Specialty Retail
$2.98M
$2.61M – $3.48M
NOI $208,565 @ 7.0% cap · market cap 21.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
33,012
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Professional office condominium with immediate occupancy and C6-2G zoning in a mixed commercial and residential setting.
Where is this office units located?
The property is located at 128 Mott Street New York, NY.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 1,197‑square‑foot office condominium at 128 Mott Street, New York, NY 10013; C6‑2G zoning; 1912 construction with block materials
