Multi-Tenant Retail Storefront
For Sale
Contact for pricing
51 Wooster St, New York, NY 10013
Multi-tenant retail storefront building can be delivered vacant for a new operator or flexible use.
Property Size4,600 SF
Price / SF$2,010
Days on Market629
Property Features for 51 Wooster St
General Information
Standard status
Active
Size
4,600 SF
Property subtype
RETAIL
Building Details
Tenancy
Multi
Listing Agency:
NYCRS - New York
(212) 420-9435
Listed By:
John Pasquale
(212) 925-3280
Source:
Moodyscre
Added: Dec 26, 2024
Changed: Sep 6
Last Checked: Sep 15 at 8:28AM
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 NYCRS - New York
Investment Insights
Based on property information with market context.
The subject property is a multi-tenant retail storefront building currently rented by multiple tenants, with the ability to be delivered vacant.
Located on Wooster Street between Broome and Grand Street, the surrounding retail mix includes Isabel Marant, Acne Studios, Alexander Wang, Celine, Morgane Le Fay, and Zadig & Voltaire.
Ownership is taking bids and will entertain reasonable offers. The property can serve as a retail investment opportunity or support multiple possible uses depending on the incoming tenant’s plans.
Located on Wooster Street between Broome and Grand Street, the surrounding retail mix includes Isabel Marant, Acne Studios, Alexander Wang, Celine, Morgane Le Fay, and Zadig & Voltaire.
Ownership is taking bids and will entertain reasonable offers. The property can serve as a retail investment opportunity or support multiple possible uses depending on the incoming tenant’s plans.
Key Highlights
- Multi‑tenant retail storefront building on Wooster Street between Broome and Grand Street
- Currently rented by multiple tenants; can be delivered vacant
- Located among major retail and fashion brands including Isabel Marant, Acne Studios, Alexander Wang, Celine, Morgane Le Fay, and Zadig & Voltaire
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
$647,333
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
7.00%
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%
$12,946,660
$12.9M
Cap Rate 7%
$9,247,614
$9.2M
Cap Rate 9%
$7,192,589
$7.2M
Market Conditions
NOI Build-Up for 4,600 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
$1.08M $235.68/SF
− Vacancy
−$159.4K −$34.64/SF
EGI
$924.8K $201.04/SF
− OpEx
−$277.4K −$60.31/SF
NOI
$647.3K $140.72/SF
Area
New York, NY
Vacancy
14.70%
Lease Rate
$235.68 /SF/Yr
Expense Ratio
30.00%
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%
$12,946,660
Cap Rate 7%
$9,247,614
Cap Rate 9%
$7,192,589
Alternative Uses
Best Use
Retail
$9.25M
$8.09M – $10.79M
NOI $647,333 @ 7.0% cap · market cap 7.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$11.45M
$10.02M – $13.36M
NOI $801,504 @ 7.0% cap · market cap 8.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
33,018
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
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Retail space - Multi-tenant retail storefront building can be delivered vacant for a new operator or flexible use.
Where is this retail space located?
The property is located at 51 Wooster St New York, NY.
What is the asking price?
The asking price for this property is $9,250,000.
What are key features of this property?
This property features: Multi‑tenant retail storefront building on Wooster Street between Broome and Grand Street; Currently rented by multiple tenants; can be delivered vacant; Located among major retail and fashion brands including Isabel Marant, Acne Studios, Alexander Wang, Celine, Morgane Le Fay, and Zadig & Voltaire
