Mixed-Use Building with
For Sale
$3,240,000
172 E 112TH Street, New York City, NY 10029
Twenty-unit property combines rent-stabilized apartments with leased commercial space in East Harlem.
Property Size1,875 SF
Price / SF$1,728
Days on Market9
Property Features for 172 E 112TH Street
General Information
Standard status
Active
Size
1,875 SF
Property subtype
Mixed Use
Net Operating Income
$228,230
Financials
Asking Price
$3,240,000
Cap Rate
7.04%
Gross Income
$406,450
Additional Details
Multifamily Units
18
Taxes and HOA fees
Annual Taxes
$83,484
Building Details
Building Size
1,875 SF
Year Built
1910
Listing Agency:
Douglas Elliman Real Estate
(917) 847-8634
Listed By:
stella chernoff · License #10401240933
(917) 847-8634
Source:
Howardhannanyc
Added: Aug 12
Changed: Aug 15
Last Checked: Aug 19 at 2:54PM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
Located at 172 E 112th Street in East Harlem, Manhattan, this mixed-use property contains 20 units, including 18 rent-stabilized apartments and two retail spaces at street level. The building dates to 1910 and combines residential occupancy with commercial tenancy in a single asset.
Two apartments, identified as 2D and 3B, are vacant; apartment 2D is undergoing renovation. Both retail spaces are occupied under long-term leases, providing an established commercial component. The property currently reports a 7.04% capitalization rate, with a projected 8.75% pro forma capitalization rate after the vacant apartments are addressed.
Two apartments, identified as 2D and 3B, are vacant; apartment 2D is undergoing renovation. Both retail spaces are occupied under long-term leases, providing an established commercial component. The property currently reports a 7.04% capitalization rate, with a projected 8.75% pro forma capitalization rate after the vacant apartments are addressed.
Key Highlights
- 20‑unit mixed‑use property at 172 E 112th Street, New York City, NY 10029
- 18 rent‑stabilized residential apartments
- Two ground‑floor retail spaces occupied under long‑term leases
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
$253,125
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
7.81%
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%
$5,062,500
$5.1M
Cap Rate 7%
$3,616,071
$3.6M
Cap Rate 9%
$2,812,500
$2.8M
Market Conditions
NOI Build-Up for 1,875 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
$450.0K $240.00/SF
− Vacancy
−$45.0K −$24.00/SF
EGI
$405.0K $216.00/SF
− OpEx
−$151.9K −$81.00/SF
NOI
$253.1K $135.00/SF
Area
ZIP 10029
Vacancy
10.00%
Lease Rate
$240.00 /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%
$5,062,500
Cap Rate 7%
$3,616,071
Cap Rate 9%
$2,812,500
Alternative Uses
Best Use
Retail
$5.15M
$4.50M – $6.00M
NOI $360,281 @ 7.0% cap · market cap 11.12%
Second Best
Mixed Use
$3.62M
$3.16M – $4.22M
NOI $253,125 @ 7.0% cap · market cap 7.81%
Theoretical Best
Specialty Retail
$6.69M
$5.85M – $7.80M
NOI $468,281 @ 7.0% cap · market cap 14.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18
Residential units
Location Intelligence
Trade Area within ½ mile
11,430
Businesses Nearby
Explore this area
Business Placement
Demographics for 10029, NY
78,141
Population
36,955
Households
2.1
Avg Household Size
36
Median Age
36%
College-Educated
78%
High-School Grad
1.2 sq mi
ZIP Area
65,118
Density / Sq Mi
$38,308
Median Household Income
$41,951
Median Earnings
$1,183
Median Rent
$818,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Twenty-unit property combines rent-stabilized apartments with leased commercial space in East Harlem.
Where is this mixed-use property located?
The property is located at 172 E 112TH Street New York City, NY.
What is the asking price?
The asking price for this property is $3,240,000.
What are key features of this property?
This property features: 20‑unit mixed‑use property at 172 E 112th Street, New York City, NY 10029; 18 rent‑stabilized residential apartments; Two ground‑floor retail spaces occupied under long‑term leases
