Medical Office
For Sale
$1,388,000
198 Canal Street 303 &304, New York, NY 10013
Reception space, four exam rooms, storage, and a private bathroom accommodate medical or professional operations.
Property Size1,847 SF
Price / SF$751.49
Days on Market11
Property Features for 198 Canal Street 303 &304
General Information
Standard status
Active
Size
1,847 SF
Zoning
C6-IG
Site & Location
Neighborhood
Downtown
Public Transit
Yes
Additional Details
Condition
Move-in Ready
Property Use
Medical Office
Taxes and HOA fees
Annual Taxes
$12,645
Amenities
3
6
No
1847
Building Details
Building Size
1,847 SF
Year Built
1915
Stories
1
Listing Agency:
eXp Realty
(631) 613-8782
Listed By:
Geralda Desir
Source:
Goldcrestrealtygrp
Added: Oct 20
Changed: Oct 28
Last Checked: Oct 28 at 3:08PM
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 eXp Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,847-square-foot commercial condominium contains a reception area, four exam rooms, storage, and a private bathroom. The layout is suited to medical or professional use. The building dates to 1915, and the property is zoned C6-IG.
The suite is at 198 Canal Street, between Mott and Mulberry Streets on the south side of Canal Street. The Canal Street and Centre Street subway station is two blocks away, with access to the J, Z, N, Q, R, and 6 lines.
The suite is at 198 Canal Street, between Mott and Mulberry Streets on the south side of Canal Street. The Canal Street and Centre Street subway station is two blocks away, with access to the J, Z, N, Q, R, and 6 lines.
Key Highlights
- 1,847 gross square feet in a commercial condominium
- Four exam rooms, reception area, storage, and private bathroom
- Zoned C6‑IG
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,835
Cap Rate
4.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,156,700
$1.2M
Cap Rate 7%
$826,214
$826.2K
Cap Rate 9%
$642,611
$642.6K
Market Conditions
NOI Build-Up for 1,847 SF
Gross rent
$95.1K $51.48/SF
− Vacancy
−$18.0K −$9.73/SF
EGI
$77.1K $41.75/SF
− OpEx
−$19.3K −$10.44/SF
NOI
$57.8K $31.31/SF
Area
New York, NY
Vacancy
18.90%
Lease Rate
$51.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,156,700
Cap Rate 7%
$826,214
Cap Rate 9%
$642,611
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.
How Realmo checks its estimates
Property Analytics
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
Similar Off Market Nearby
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- Biscuits & Bath - Financial District — 71 Broadway, New York, NY 10006
- CurePet — Trump Bldg, 40 Wall St, New York, NY 10005
- Bond Vet - Financial District — 2 Gold St, Manhattan, NY 10038
- Seaport Animal Hospital — 80 Beekman St, New York, NY 10038
Frequently Asked Questions
What type of property is this?
Medical Office Space - Reception space, four exam rooms, storage, and a private bathroom accommodate medical or professional operations.
Where is this medical office space located?
The property is located at 198 Canal Street 303 &304 New York, 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: 1,847 gross square feet in a commercial condominium; Four exam rooms, reception area, storage, and private bathroom; Zoned C6‑IG
