Mixed-Use Property with
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140 Mulberry St, New York, NY 10013
Historic Manhattan property with street-level commercial presence and mixed-use positioning.
Property Size9,097 SF
Price / SF$1,758
Days on Market154
Property Features for 140 Mulberry St
General Information
Standard status
Active
Size
9,097 SF
Property subtype
Mixed Use
Zoning
C6-2G
Building Details
Year Built
1900
Buildings
1
Stories
5
Units
10
Listing Agency:
Marcus & Millichap - Manhattan
(212) 430-5234
Listed By:
Matthew Fotis · License #10301207136
Source:
Crexi
Added: Apr 1
Changed: Aug 30
Last Checked: Sep 1 at 6:59AM
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 Marcus & Millichap - Manhattan
Investment Insights
Based on property information with market context.
This mixed-use property contains 9,097 square feet and dates to 1900. The building carries C6-2G zoning, supporting its classification within Manhattan’s mixed-use commercial setting.
The property is located at 140 Mulberry Street in New York, between Grand Street and Hester Street, within the Little Italy neighborhood. Its storefront component and mixed-use configuration provide a combination of commercial and broader property functionality.
The property is located at 140 Mulberry Street in New York, between Grand Street and Hester Street, within the Little Italy neighborhood. Its storefront component and mixed-use configuration provide a combination of commercial and broader property functionality.
Key Highlights
- 9,097‑square‑foot mixed‑use property
- C6‑2G zoning
- Built in 1900
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
$1,280,171
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
8.00%
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%
$25,603,420
$25.6M
Cap Rate 7%
$18,288,157
$18.3M
Cap Rate 9%
$14,224,122
$14.2M
Market Conditions
NOI Build-Up for 9,097 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
$2.14M $235.68/SF
− Vacancy
−$315.2K −$34.64/SF
EGI
$1.83M $201.04/SF
− OpEx
−$548.6K −$60.31/SF
NOI
$1.28M $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%
$25,603,420
Cap Rate 7%
$18,288,157
Cap Rate 9%
$14,224,122
Alternative Uses
Best Use
Retail
$18.29M
$16.00M – $21.34M
NOI $1,280,171 @ 7.0% cap · market cap 8.00%
Second Best
Mixed Use
$4.14M
$3.62M – $4.83M
NOI $289,967 @ 7.0% cap · market cap 1.81%
Theoretical Best
Specialty Retail
$22.64M
$19.81M – $26.42M
NOI $1,585,061 @ 7.0% cap · market cap 9.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic Manhattan property with street-level commercial presence and mixed-use positioning.
Where is this mixed-use property located?
The property is located at 140 Mulberry St New York, NY.
What is the asking price?
The asking price for this property is $16,000,000.
What are key features of this property?
This property features: 9,097‑square‑foot mixed‑use property; C6‑2G zoning; Built in 1900
