Turnkey Restaurant Space with
For Sale
$388,000
216 Thompson St, New York, NY 10012
Fully built-out restaurant space with complete kitchen setup and beer and wine license for immediate operations.
Property Size1,600 SF
Price / SF$242.50
Days on Market153
Property Features for 216 Thompson St
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Business Opportunity
Additional Details
Business Included
Yes
Liquor License
Yes
Taxes and HOA fees
Annual Taxes
$98,062
Listing Agency:
B Square Realty
(718) 939-8388
Listed By:
Wenting Wang
(917) 547-4288
Source:
Exprealty
Added: Apr 8
Changed: Aug 26
Last Checked: Sep 7 at 12:57PM
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 B Square Realty
Investment Insights
Based on property information with market context.
This turnkey restaurant opportunity is fully built out for restaurant use and includes a complete kitchen setup suitable for all-day dining and hibachi operations. The space also comes equipped with a beer and wine license, supporting immediate operational capability for an appropriate food concept.
The property is located in the heart of Greenwich Village, just steps from NYU, in a high-activity dining corridor with consistent foot traffic from students, residents, and tourists.
The business has been operating for over 10 years and is currently open and generating steady income. This offering is positioned for restaurateurs or operators looking to enter or expand in a highly desirable Manhattan dining area.
The property is located in the heart of Greenwich Village, just steps from NYU, in a high-activity dining corridor with consistent foot traffic from students, residents, and tourists.
The business has been operating for over 10 years and is currently open and generating steady income. This offering is positioned for restaurateurs or operators looking to enter or expand in a highly desirable Manhattan dining area.
Key Highlights
- Approximately 1,600+ SF fully built‑out restaurant space
- Complete kitchen setup suitable for all‑day dining and hibachi operations
- Beer and wine license included for immediate operations
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
$23,242
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
5.99%
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%
$464,840
$464.8K
Cap Rate 7%
$332,029
$332.0K
Cap Rate 9%
$258,244
$258.2K
Market Conditions
NOI Build-Up for 1,600 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
$35.1K $21.96/SF
− Vacancy
−$1.9K −$1.21/SF
EGI
$33.2K $20.75/SF
− OpEx
−$10.0K −$6.23/SF
NOI
$23.2K $14.53/SF
Area
New York, NY
Vacancy
5.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
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%
$464,840
Cap Rate 7%
$332,029
Cap Rate 9%
$258,244
Alternative Uses
Best Use
Specialty Retail
$3.98M
$3.48M – $4.65M
NOI $278,784 @ 7.0% cap · market cap 71.85%
Second Best
Industrial
$332.0K
$290.5K – $387.4K
NOI $23,242 @ 7.0% cap · market cap 5.99%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
32,577
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10012, NY
23,125
Population
14,568
Households
1.6
Avg Household Size
35
Median Age
83%
College-Educated
96%
High-School Grad
0.3 sq mi
ZIP Area
77,083
Density / Sq Mi
$130,938
Median Household Income
$88,301
Median Earnings
$2,731
Median Rent
$1,500,000
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Bread and butter — 233 West St, New York, NY 10013
- Kikoo Sushi — 141 1st Ave., New York, NY 10003
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully built-out restaurant space with complete kitchen setup and beer and wine license for immediate operations.
Where is this conventional restaurant located?
The property is located at 216 Thompson St New York, NY.
What is the asking price?
The asking price for this property is $388,000.
What are key features of this property?
This property features: Approximately 1,600+ SF fully built‑out restaurant space; Complete kitchen setup suitable for all‑day dining and hibachi operations; Beer and wine license included for immediate operations
