Six-Unit Mixed-Use
For Sale
Contact for pricing
144 8th Ave, New York, NY 10011
Commercially configured property with six units positioned near subway access, shops, restaurants, offices, and neighborhood attractions.
Property Size9,874 SF
Price / SF$962.12
Days on Market216
Property Features for 144 8th Ave
General Information
Standard status
Active
Size
9,874 SF
Property subtype
Mixed Use
Building Details
Units
6
Listing Agency:
Matthews
(646) 933-2620
Listed By:
Brock Emmetsberger · License #NY 10301208301
Source:
Crexi
Added: Jan 27
Changed: Aug 29
Last Checked: Aug 29 at 4:06PM
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 Matthews
Investment Insights
Based on property information with market context.
This mixed-use property contains six commercial units within approximately 9,874 SF, creating a multi-tenant configuration for retail and other commercial occupancy. The asset is positioned at the northeast corner of West 17th Street and Eighth Avenue, with a presence along an active Chelsea commercial corridor.
The property is near the 1, 2, and 3 subway lines, as well as surrounding restaurants, offices, shops, and other neighborhood attractions. Google’s headquarters at 111 Eighth Avenue is located one block to the south; the facility spans more than 2.7 million square feet and was acquired by Google in 2010. The property is located at 144 8th Ave, New York, NY 10011.
The property is near the 1, 2, and 3 subway lines, as well as surrounding restaurants, offices, shops, and other neighborhood attractions. Google’s headquarters at 111 Eighth Avenue is located one block to the south; the facility spans more than 2.7 million square feet and was acquired by Google in 2010. The property is located at 144 8th Ave, New York, NY 10011.
Key Highlights
- Six commercial units within ±9,874 SF
- Northeast corner of West 17th Street and Eighth Avenue
- Near the 1, 2, and 3 Subway lines
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
$314,734
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
3.31%
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%
$6,294,680
$6.3M
Cap Rate 7%
$4,496,200
$4.5M
Cap Rate 9%
$3,497,044
$3.5M
Market Conditions
NOI Build-Up for 9,874 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
$592.4K $60.00/SF
− Vacancy
−$88.9K −$9.00/SF
EGI
$503.6K $51.00/SF
− OpEx
−$188.8K −$19.13/SF
NOI
$314.7K $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%
$6,294,680
Cap Rate 7%
$4,496,200
Cap Rate 9%
$3,497,044
Alternative Uses
Best Use
Retail
$19.85M
$17.37M – $23.16M
NOI $1,389,514 @ 7.0% cap · market cap 14.63%
Second Best
Mixed Use
$4.50M
$3.93M – $5.25M
NOI $314,734 @ 7.0% cap · market cap 3.31%
Theoretical Best
Specialty Retail
$24.58M
$21.51M – $28.67M
NOI $1,720,446 @ 7.0% cap · market cap 18.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
41,706
Businesses Nearby
Explore this area
Business Placement
Demographics for 10011, NY
53,318
Population
35,049
Households
1.5
Avg Household Size
39
Median Age
79%
College-Educated
96%
High-School Grad
0.6 sq mi
ZIP Area
88,863
Density / Sq Mi
$146,571
Median Household Income
$113,503
Median Earnings
$2,868
Median Rent
$1,165,800
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 - Commercially configured property with six units positioned near subway access, shops, restaurants, offices, and neighborhood attractions.
Where is this mixed-use property located?
The property is located at 144 8th Ave New York, NY.
What is the asking price?
The asking price for this property is $9,500,000.
What are key features of this property?
This property features: Six commercial units within ±9,874 SF; Northeast corner of West 17th Street and Eighth Avenue; Near the 1, 2, and 3 Subway lines
