Vacant Three-Story Storefront
New
For Sale
$9,000,000
155 8th Avenue New York, Manhattan, NY 10011
Three units occupy a brick commercial building delivered vacant and requiring renovation.
Property Size4,555 SF
Lot Size0.03 Acres
Price / SF$1,975
Days on Market2
Property Features for 155 8th Avenue New York
General Information
Standard status
Active
Size
4,555 SF
Lot size
0.03 Acres
Property subtype
Commercial
Zoning
C1-6A / R7A
Property Condition
Severity
Repairs Needed
Evidence
requires TLC
Taxes and HOA fees
Annual Taxes
$103,343
Building Details
Year Built
1910
Buildings
1
Stories
3
Construction
brick
Tenancy
Multi
Listing Agency:
Capri Jet Realty Corp
(347) 465-4457
Listed By:
Agata Landa (agata@caprijetrealty.com)
Source:
Harmonyhomesrealtyny
Added: Sep 9
Last Checked: Sep 9 at 3:54PM
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 Capri Jet Realty Corp
Investment Insights
Based on property information with market context.
This three-story brick storefront property contains three units within 4,555 SF of commercial space. The building was constructed in 1910 and will be conveyed vacant, allowing the next owner to undertake renovation or reconfiguration. The property occupies a 19.5 × 75 ft lot and requires TLC.
Located at 155 8th Avenue in Chelsea, Manhattan, the building is surrounded by residential, retail, dining, and neighborhood amenities. C1-6A / R7A zoning applies, and public transportation is conveniently accessible from the property.
Located at 155 8th Avenue in Chelsea, Manhattan, the building is surrounded by residential, retail, dining, and neighborhood amenities. C1-6A / R7A zoning applies, and public transportation is conveniently accessible from the property.
Key Highlights
- 4,555 SF three‑story brick commercial building
- Three units delivered fully vacant
- 19.5 × 75 ft lot
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
$641,000
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
7.12%
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%
$12,820,000
$12.8M
Cap Rate 7%
$9,157,143
$9.2M
Cap Rate 9%
$7,122,222
$7.1M
Market Conditions
NOI Build-Up for 4,555 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
$1.07M $235.68/SF
− Vacancy
−$157.8K −$34.64/SF
EGI
$915.7K $201.04/SF
− OpEx
−$274.7K −$60.31/SF
NOI
$641.0K $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%
$12,820,000
Cap Rate 7%
$9,157,143
Cap Rate 9%
$7,122,222
Alternative Uses
Best Use
Retail
$9.16M
$8.01M – $10.68M
NOI $641,000 @ 7.0% cap · market cap 7.12%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$11.34M
$9.92M – $13.23M
NOI $793,663 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
28,544
Businesses Nearby
Balanced
Demand for This Use
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
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?
Storefront property - Three units occupy a brick commercial building delivered vacant and requiring renovation.
Where is this storefront property located?
The property is located at 155 8th Avenue New York Manhattan, NY.
What is the asking price?
The asking price for this property is $9,000,000.
What are key features of this property?
This property features: 4,555 SF three‑story brick commercial building; Three units delivered fully vacant; 19.5 × 75 ft lot
