Storefront
For Sale
$4,500,000
182 9th Ave, New York, NY 10011
Storefront property positioned in Manhattan’s Chelsea neighborhood.
Property Size2,880 SF
Price / SF$1,562
Days on Market109
Property Features for 182 9th Ave
General Information
Standard status
Active
Size
2,880 SF
Property subtype
Vacant-User
Amenities
Prime Location Within the Chelsea Extension Historic District
25' From the Northeast Corner of West 21st Street & 9th Avenue
20' of Retail Frontage
Approx. 2,880 SF Across Two Levels | 1,400 SF At Grade
Fully Built-Out Two-Level Salon
Use Group 6 Permitting Wide Range Retail and Service Uses
Building Details
Building Size
2,880 SF
Year Built
1910
Listing Agency:
Marcus & Millichap | Manhattan
(646) 805-1433
Listed By:
Colton Traynham · License #License(s): NY: 10301224069
(646) 805-1433
Source:
Marcusmillichap
Added: May 14
Changed: Aug 30
Last Checked: Aug 30 at 6:35AM
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 storefront property contains 2,880 square feet within a building constructed in 1910. The space is identified as Unit 1 at 182 9th Avenue in Manhattan.
The property is situated in Chelsea between West 21st Street and West 22nd Street, with a New York, NY 10011 address.
The property is situated in Chelsea between West 21st Street and West 22nd Street, with a New York, NY 10011 address.
Key Highlights
- 2,880‑square‑foot storefront property
- Constructed in 1910
- Unit 1 at 182 9th Avenue
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
$405,287
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
9.01%
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%
$8,105,740
$8.1M
Cap Rate 7%
$5,789,814
$5.8M
Cap Rate 9%
$4,503,189
$4.5M
Market Conditions
NOI Build-Up for 2,880 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
$678.8K $235.68/SF
− Vacancy
−$99.8K −$34.64/SF
EGI
$579.0K $201.04/SF
− OpEx
−$173.7K −$60.31/SF
NOI
$405.3K $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%
$8,105,740
Cap Rate 7%
$5,789,814
Cap Rate 9%
$4,503,189
Alternative Uses
Best Use
Retail
$5.79M
$5.07M – $6.75M
NOI $405,287 @ 7.0% cap · market cap 9.01%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.17M
$6.27M – $8.36M
NOI $501,811 @ 7.0% cap · market cap 11.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
29,388
Businesses Nearby
Well-served
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- hudson river flowers — 554 Hudson St, New York, NY 10014
- Hotel Flower Delivery NYC — 577 hudson st, new york, ny 10014
- West Village Florist — 70 Greenwich Ave, New York, NY 10011
- Kampo Floral Design — 51 W 14th St #6R, New York, NY 10011
- 15 EAST Florist — 73 5th Ave, New York, NY 10003
Frequently Asked Questions
What type of property is this?
Storefront property - Storefront property positioned in Manhattan’s Chelsea neighborhood.
Where is this storefront property located?
The property is located at 182 9th Ave New York, NY.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 2,880‑square‑foot storefront property; Constructed in 1910; Unit 1 at 182 9th Avenue
