Vacant Interior Office
For Sale
$599,999
210 Canal Street #409 409, New York, NY 10013
Inside-facing office unit with vacant delivery and access to extensive subway and bus service.
Property Size807 SF
Price / SF$743.49
Days on Market46
Property Features for 210 Canal Street #409 409
General Information
Standard status
Active
Size
807 SF
Property subtype
Commercial
Listing Agency:
Momentum Real Estate LLC
Listed By:
Priscilla Tran
(718) 382-0001
Source:
Prideestates
Added: Jul 20
Changed: Aug 29
Last Checked: Sep 2 at 2:23AM
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 Momentum Real Estate LLC
Investment Insights
Based on property information with market context.
This 807-square-foot office unit is offered vacant, providing a ready-to-occupy setting for an owner-user or office operation. Its inside-facing position supports a quieter work environment within the building, while the unit’s flexible layout can accommodate a range of office functions.
The property is located at 210 Canal Street in Manhattan’s Chinatown. Transit access includes the B, D, N, Q, R, W, 4, 6, J, and Z subway lines, along with the M22 and M103 bus routes. The combination of a compact office footprint, vacant occupancy, and broad public transportation access supports convenient daily use for employees and visitors.
The property is located at 210 Canal Street in Manhattan’s Chinatown. Transit access includes the B, D, N, Q, R, W, 4, 6, J, and Z subway lines, along with the M22 and M103 bus routes. The combination of a compact office footprint, vacant occupancy, and broad public transportation access supports convenient daily use for employees and visitors.
Key Highlights
- 807‑square‑foot office unit
- Delivered vacant for immediate occupancy
- Inside‑facing position for a quieter work setting
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
$25,269
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
4.21%
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%
$505,380
$505.4K
Cap Rate 7%
$360,986
$361.0K
Cap Rate 9%
$280,767
$280.8K
Market Conditions
NOI Build-Up for 807 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
$41.5K $51.48/SF
− Vacancy
−$7.9K −$9.73/SF
EGI
$33.7K $41.75/SF
− OpEx
−$8.4K −$10.44/SF
NOI
$25.3K $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 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%
$505,380
Cap Rate 7%
$360,986
Cap Rate 9%
$280,767
Alternative Uses
Best Use
Office B
$361.0K
$315.9K – $421.2K
NOI $25,269 @ 7.0% cap · market cap 4.21%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.01M
$1.76M – $2.34M
NOI $140,612 @ 7.0% cap · market cap 23.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
31,868
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Inside-facing office unit with vacant delivery and access to extensive subway and bus service.
Where is this office units located?
The property is located at 210 Canal Street #409 409 New York, NY.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: 807‑square‑foot office unit; Delivered vacant for immediate occupancy; Inside‑facing position for a quieter work setting
