Move-In-Ready Office
For Sale
$869,000
139 Centre Street #224 New York, New York, NY 10013
Move-in-condition office suite with private bathroom, high ceilings, and 24/7 access with handicap accessibility.
Property Size880 SF
Days on Market41
Property Features for 139 Centre Street #224 New York
General Information
Standard status
Active
Size
880 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$10,281
Building Details
Building Size
880 SF
Year Built
1911
Listing Agency:
B Square Realty
(929) 366-6682
Listed By:
Yiwen Zhu · License #1027686
(929) 366-6682
Source:
Cohenandcohenrealty
Added: Jul 17
Changed: Aug 24
Last Checked: Aug 25 at 9:21AM
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.
This move-in-condition office suite features a modern design with high ceilings and a private bathroom. The space is set up for immediate occupancy, with 24 hours a day, 7 days a week access and handicap access. A concierge service is also provided.
The suite is located at 139 Centre Street, Manhattan, near multiple subway lines, including 6, Q, R, N, W, J, M, Z, A, C, and E.
Ideal for an office user seeking a professionally managed environment with convenient, around-the-clock building access and in-suite amenities.
The suite is located at 139 Centre Street, Manhattan, near multiple subway lines, including 6, Q, R, N, W, J, M, Z, A, C, and E.
Ideal for an office user seeking a professionally managed environment with convenient, around-the-clock building access and in-suite amenities.
Key Highlights
- Move‑in‑condition office suite with private bathroom
- High ceilings
- 24/7 access (24 hours & 7 days)
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
$27,555
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
3.17%
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%
$551,100
$551.1K
Cap Rate 7%
$393,643
$393.6K
Cap Rate 9%
$306,167
$306.2K
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
$45.3K $51.48/SF
− Vacancy
−$8.6K −$9.73/SF
EGI
$36.7K $41.75/SF
− OpEx
−$9.2K −$10.44/SF
NOI
$27.6K $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%
$551,100
Cap Rate 7%
$393,643
Cap Rate 9%
$306,167
Alternative Uses
Best Use
Office B
$393.6K
$344.4K – $459.3K
NOI $27,555 @ 7.0% cap · market cap 3.17%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.19M
$1.92M – $2.56M
NOI $153,331 @ 7.0% cap · market cap 17.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
31,868
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Move-in-condition office suite with private bathroom, high ceilings, and 24/7 access with handicap accessibility.
Where is this office building located?
The property is located at 139 Centre Street #224 New York New York, NY.
What is the asking price?
The asking price for this property is $869,000.
What are key features of this property?
This property features: Move‑in‑condition office suite with private bathroom; High ceilings; 24/7 access (24 hours & 7 days)
