Mixed-Use Building with Rooftop
198 Grand Street, New York, NY 10013
For Sale
$7,990,000
Elevator access serves a building combining retail space with residential units.
Property Size12,373 SF
Price / SF$645.76
Days on Market21
Property Features for 198 Grand Street
General Information
Standard status
Size
Elevators
Site & Location
Neighborhood
Mixed-Use Components
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
elevator access
rooftop garden
multiple outdoor spaces
No
Public
12373
Building Details
Building Size
Year Built
Buildings
Tenancy
Listing Agency:
(516) 703-2918
Listed By:
Noman Basit
Source:
Hedgestonehomes
Added: Oct 21
Changed: Nov 9
Last Checked: Nov 9 at 8:57AM
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 Noman Basit
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Investment Insights
Based on property information with market context.
At 198 Grand Street in Chinatown, this 2006 mixed-use property contains approximately 12,373 square feet of retail and residential space. Building features include elevator access, a rooftop garden, and multiple outdoor areas.
The residential component includes rent-stabilized tenants and four vacant units that are not generating income. Units are subject to rent stabilization regulations, including restrictions through 03/15/2029. The property is offered as-is.
The residential component includes rent-stabilized tenants and four vacant units that are not generating income. Units are subject to rent stabilization regulations, including restrictions through 03/15/2029. The property is offered as-is.
Key Highlights
- Approximately 12,373 SF of mixed‑use space
- Rooftop garden, elevator access, and multiple outdoor spaces
- Four vacant residential units are not generating income
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$394,389
Cap Rate
4.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,887,780
$7.9M
Cap Rate 7%
$5,634,129
$5.6M
Cap Rate 9%
$4,382,100
$4.4M
Market Conditions
NOI Build-Up for 12,373 SF
Gross rent
$742.4K $60.00/SF
− Vacancy
−$111.4K −$9.00/SF
EGI
$631.0K $51.00/SF
− OpEx
−$236.6K −$19.13/SF
NOI
$394.4K $31.88/SF
Area
New York, NY
Vacancy
15.00%
Lease Rate
$60.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,887,780
Cap Rate 7%
$5,634,129
Cap Rate 9%
$4,382,100
Alternative Uses
Best Use
Mixed Use
$5.63M
$4.93M – $6.57M
NOI $394,389 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$5.53M
$4.84M – $6.45M
NOI $387,118 @ 7.0% cap · market cap 4.85%
Theoretical Best
Office A
$8.65M
$7.57M – $10.09M
NOI $605,516 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
33,012
Businesses Nearby
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
$2,000,001
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Mixed-use properties in New York, NY
Properties on Market for Mixed-use properties in New York
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Elevator access serves a building combining retail space with residential units.
Where is this mixed-use property located?
The property is located at 198 Grand Street New York, NY.
What is the asking price?
The asking price for this property is $7,990,000.
What are key features of this property?
This property features: Approximately 12,373 SF of mixed‑use space; Rooftop garden, elevator access, and multiple outdoor spaces; Four vacant residential units are not generating income
