Mixed-Use Condo Unit with Open
For Sale
$980,000
139 CENTRE ST Unit 204, New York, NY 10013
Vacant second-floor space supports retail, office, or service-business use.
Property Size880 SF
Price / SF$1,113
Days on Market233
Property Features for 139 CENTRE ST Unit 204
General Information
Standard status
Active
Size
880 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$9,800
Amenities
Central Air
Listing Agency:
B Square Realty
(347) 706-7082
Listed By:
Lulu Mao
(347) 706-7082
Source:
Xome
Added: Jan 10
Changed: Aug 29
Last Checked: Aug 30 at 1:00PM
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 B Square Realty
Investment Insights
Based on property information with market context.
Main Suite 204 is an 880-square-foot mixed-use condominium unit on the second floor, reached by one flight of stairs. The space has an open interior arrangement, front-facing exposure, substantial natural light, and central air conditioning. It is currently vacant and available for occupancy.
The property is at 139 Centre St in Manhattan’s Chinatown/Civic Center area, near the J, Z, 6, N/Q/R/W, and 4/5 subway lines. Restaurants, banks, and courthouses are located in the surrounding area. The layout can accommodate retail, professional office, or service-business use, subject to permitted-use verification.
The property is at 139 Centre St in Manhattan’s Chinatown/Civic Center area, near the J, Z, 6, N/Q/R/W, and 4/5 subway lines. Restaurants, banks, and courthouses are located in the surrounding area. The layout can accommodate retail, professional office, or service-business use, subject to permitted-use verification.
Key Highlights
- 880 SF mixed‑use condominium unit
- Open second‑floor layout with front‑facing exposure
- Central air conditioning and strong natural light
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
$28,050
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
2.86%
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%
$561,000
$561.0K
Cap Rate 7%
$400,714
$400.7K
Cap Rate 9%
$311,667
$311.7K
Market Conditions
NOI Build-Up for 880 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
$52.8K $60.00/SF
− Vacancy
−$7.9K −$9.00/SF
EGI
$44.9K $51.00/SF
− OpEx
−$16.8K −$19.13/SF
NOI
$28.1K $31.88/SF
Area
New York, NY
Vacancy
15.00%
Lease Rate
$60.00 /SF/Yr
Expense Ratio
37.50%
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%
$561,000
Cap Rate 7%
$400,714
Cap Rate 9%
$311,667
Alternative Uses
Best Use
Retail
$1.77M
$1.55M – $2.06M
NOI $123,838 @ 7.0% cap · market cap 12.64%
Second Best
Mixed Use
$400.7K
$350.6K – $467.5K
NOI $28,050 @ 7.0% cap · market cap 2.86%
Theoretical Best
Specialty Retail
$2.19M
$1.92M – $2.56M
NOI $153,331 @ 7.0% cap · market cap 15.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
36,609
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Vacant second-floor space supports retail, office, or service-business use.
Where is this mixed-use property located?
The property is located at 139 CENTRE ST Unit 204 New York, NY.
What is the asking price?
The asking price for this property is $980,000.
What are key features of this property?
This property features: 880 SF mixed‑use condominium unit; Open second‑floor layout with front‑facing exposure; Central air conditioning and strong natural light
