Medical Office Condo with Exam
For Sale
$1,388,000
198 Canal Street New York, Manhattan, NY 10013
COMMERCIAL - New York (Manhattan), NY
Property Size1,847 SF
Price / SF$751.49
Days on Market1009
Property Features for 198 Canal Street New York
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
C6-IG
Directions
Call listing agent.
Standard status
Active
APN
0200-1007
Taxes and HOA fees
Tax Annual Amount
12046
Building Details
Floors in Building
6
Number of units
2
Listing Agency:
EXP Realty
(888) 276-0630
Listed By:
Emily P. Koo · License #10301218036
(888) 276-0630
Added: Oct 26, 2023
Changed: Jul 27
Last Checked: Jul 30 at 6:06PM
MLS# L3513048
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale medical office condo offers approximately 1,847 gross square feet of configured interior space. The layout includes a reception area, four exam rooms, storage for medical supplies and equipment, and a private bathroom.
Located in Lower Manhattan on Canal Street’s south side, the unit is described as being between Mott and Mulberry Streets. The property is also noted as being about two blocks from the Canal Street & Centre Street subway station, providing access to the J, Z, N, Q, R, and 6 lines.
The building and space are listed under zoning C6-IG, supporting professional and medical office use as described in the offering materials.
Located in Lower Manhattan on Canal Street’s south side, the unit is described as being between Mott and Mulberry Streets. The property is also noted as being about two blocks from the Canal Street & Centre Street subway station, providing access to the J, Z, N, Q, R, and 6 lines.
The building and space are listed under zoning C6-IG, supporting professional and medical office use as described in the offering materials.
Key Highlights
- 1847 gross SF commercial condo in Chinatown
- Medical/professional layout with a reception area and four exam rooms
- Includes plenty of storage for medical supplies and equipment
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $95.1k | $51.48 |
| − Vacancy | −$18.0k | −$9.73 |
| EGI | $77.1k | $41.75 |
| − OpEx | −$19.3k | −$10.44 |
| NOI | $57.8k | $31.31 |
1,847 SF · lease $51.48/SF/yr · vacancy 18.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$826.2K
$722.9K – $963.9K
NOI $57,835 @ 7.0% cap · market cap 4.17%
Second Best
Healthcare Medical
$786.5K
$688.2K – $917.6K
NOI $55,055 @ 7.0% cap · market cap 3.97%
Theoretical Best
Specialty Retail
$4.60M
$4.02M – $5.36M
NOI $321,821 @ 7.0% cap · market cap 23.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
36,609
Businesses Nearby
Under-served
Demand for This Use
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 Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office condo featuring a reception area, four exam rooms, storage, and a private bathroom.
Where is this medical office space located?
The property is located at 198 Canal Street New York Manhattan, NY.
What is the asking price?
The asking price for this property is $1,388,000.
What are key features of this property?
This property features: 1847 gross SF commercial condo in Chinatown; Medical/professional layout with a reception area and four exam rooms; Includes plenty of storage for medical supplies and equipment
