Harlem Retail Condominium For
For Sale
$3,100,000
2300 Frederick Douglass Blvd, New York, NY 10027
Retail condominium in Harlem, Manhattan, with 3,720 SF.
Property Size3,100 SF
Price / SF$1,000
Days on Market306
Property Features for 2300 Frederick Douglass Blvd
General Information
Standard status
Active
Size
3,100 SF
Property subtype
Vacant-User
Amenities
Approximately 90 Feet of Prime Frontage at Frederick Douglass Boulevard and West 124th Street
Vacant Commercial Condominium With a Recent Medical Build-Out in the Heart of Harlem
Significant ICIP Tax Abatement Extending Through 2036
Building Details
Building Size
3,100 SF
Year Built
2008
Listed By:
Chase Friedman · License #License(s): NY: 10401389145
(646) 805-1448
Source:
Marcusmillichap
Added: Nov 24, 2025
Changed: Sep 20
Last Checked: Sep 26 at 3:35AM
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 Chase Friedman
Investment Insights
Based on property information with market context.
This retail condominium is located in Harlem, Manhattan. The unit offers 3,720 square feet of built space. The property is currently configured as a doctor’s office, but will be delivered vacant. This property is suitable for retail or medical office use.
Key Highlights
- Delivered Vacant
- 3,720 built SF
- Retail condominium
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
$97,069
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
3.13%
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%
$1,941,380
$1.9M
Cap Rate 7%
$1,386,700
$1.4M
Cap Rate 9%
$1,078,544
$1.1M
Market Conditions
NOI Build-Up for 3,100 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
$159.6K $51.48/SF
− Vacancy
−$30.2K −$9.73/SF
EGI
$129.4K $41.75/SF
− OpEx
−$32.4K −$10.44/SF
NOI
$97.1K $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%
$1,941,380
Cap Rate 7%
$1,386,700
Cap Rate 9%
$1,078,544
Alternative Uses
Best Use
Retail
$6.23M
$5.45M – $7.27M
NOI $436,246 @ 7.0% cap · market cap 14.07%
Second Best
Office B
$1.39M
$1.21M – $1.62M
NOI $97,069 @ 7.0% cap · market cap 3.13%
Theoretical Best
Specialty Retail
$7.72M
$6.75M – $9.00M
NOI $540,144 @ 7.0% cap · market cap 17.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
9,915
Businesses Nearby
Explore this area
Business Placement
Demographics for 10027, NY
64,037
Population
28,038
Households
2.3
Avg Household Size
32
Median Age
52%
College-Educated
87%
High-School Grad
0.9 sq mi
ZIP Area
71,152
Density / Sq Mi
$64,220
Median Household Income
$44,231
Median Earnings
$1,609
Median Rent
$915,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail condominium in Harlem, Manhattan, with 3,720 SF.
Where is this retail space located?
The property is located at 2300 Frederick Douglass Blvd New York, NY.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: Delivered Vacant; 3,720 built SF; Retail condominium
