Mixed-Use Building with SRO
New
For Sale
Contact for pricing
203 8th Ave, New York, NY 10011
Ground-floor commercial space is paired with basement use and residential rooms above.
Property Size5,656 SF
Price / SF$477.37
Days on Market5
Property Features for 203 8th Ave
General Information
Standard status
Active
Size
5,656 SF
Property subtype
MULTIFAMILY
Additional Details
Multifamily Units
12
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Ariel Property Advisors
(212) 544-9500
Listed By:
Christoffer Brodhead
(212) 544-9500
Source:
Moodyscre
Added: Aug 17
Changed: Aug 20
Last Checked: Aug 21 at 6:01AM
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 Ariel Property Advisors
Investment Insights
Based on property information with market context.
This mixed-use building combines a ground-floor commercial area with use of the entire basement, a rear office on the second floor of the commercial portion, and 12 SRO units on the upper levels. Six of the SRO units are vacant. The ground floor extends across a 25-foot by 100-foot footprint, while the second and third floors each cover 25 feet by 50 feet.
The property is located at 203 8th Ave in Manhattan’s Chelsea neighborhood. Its combination of commercial space, basement area, office space, and SRO housing creates a vertically integrated layout within a full-building footprint.
The property is located at 203 8th Ave in Manhattan’s Chelsea neighborhood. Its combination of commercial space, basement area, office space, and SRO housing creates a vertically integrated layout within a full-building footprint.
Key Highlights
- Ground‑floor commercial space with use of the full basement
- 12 SRO units above the commercial space; 6 are vacant
- Ground‑floor footprint measures 25 ft x 100 ft
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
$180,285
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
6.68%
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%
$3,605,700
$3.6M
Cap Rate 7%
$2,575,500
$2.6M
Cap Rate 9%
$2,003,167
$2.0M
Market Conditions
NOI Build-Up for 5,656 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
$339.4K $60.00/SF
− Vacancy
−$50.9K −$9.00/SF
EGI
$288.5K $51.00/SF
− OpEx
−$108.2K −$19.13/SF
NOI
$180.3K $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 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%
$3,605,700
Cap Rate 7%
$2,575,500
Cap Rate 9%
$2,003,167
Alternative Uses
Best Use
Mixed Use
$2.58M
$2.25M – $3.00M
NOI $180,285 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$2.53M
$2.21M – $2.95M
NOI $176,961 @ 7.0% cap · market cap 6.55%
Theoretical Best
Specialty Retail
$14.08M
$12.32M – $16.43M
NOI $985,501 @ 7.0% cap · market cap 36.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
7,251
Businesses Nearby
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor commercial space is paired with basement use and residential rooms above.
Where is this mixed-use property located?
The property is located at 203 8th Ave New York, NY.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: Ground‑floor commercial space with use of the full basement; 12 SRO units above the commercial space; 6 are vacant; Ground‑floor footprint measures 25 ft x 100 ft
