13-Unit Mixed-Use
240 E 9th Street, New York, NY 10003
For Sale
$9,999,000
The fully occupied property combines residential units with separate meters, air conditioning, and three-phase power.
Property Size9,180 SF
Price / SF$1,089
Days on Market21
Property Features for 240 E 9th Street
General Information
Standard status
Size
Zoning
Occupancy
Net Operating Income
Site & Location
Neighborhood
Highway Access
Mixed-Use Components
Units
Multifamily Units
Individually Metered Utilities
Additional Details
Gross Income
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
A/C
No
Public
On Street
9180
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
All Island Estates Realty Corp
(516) 703-2918
Listed By:
Randy Kral
Source:
Hedgestonehomes
Added: Oct 21
Changed: Nov 9
Last Checked: Nov 9 at 8:39AM
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 All Island Estates Realty Corp
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 9,180-square-foot mixed-use building contains 13 units and was built in 1900. The property is 100% occupied, with eight free-market apartments. Building features include separate meters, three-phase power, air conditioning, high 8-foot ceilings, and new LED lighting.
At 240 E 9th Street in Manhattan, the property sits between 2nd and 3rd Avenues and is six blocks from the FDR Drive. Nearby businesses and institutions include NYU Langone, Whole Foods, Target, Trader Joe’s, Chase Bank, and USPS.
At 240 E 9th Street in Manhattan, the property sits between 2nd and 3rd Avenues and is six blocks from the FDR Drive. Nearby businesses and institutions include NYU Langone, Whole Foods, Target, Trader Joe’s, Chase Bank, and USPS.
Key Highlights
- 13‑unit mixed‑use property with eight free‑market apartments
- 9,180 square feet; built in 1900
- 100% occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$292,613
Cap Rate
2.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,852,260
$5.9M
Cap Rate 7%
$4,180,186
$4.2M
Cap Rate 9%
$3,251,256
$3.3M
Market Conditions
NOI Build-Up for 9,180 SF
Gross rent
$550.8K $60.00/SF
− Vacancy
−$82.6K −$9.00/SF
EGI
$468.2K $51.00/SF
− OpEx
−$175.6K −$19.13/SF
NOI
$292.6K $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%
$5,852,260
Cap Rate 7%
$4,180,186
Cap Rate 9%
$3,251,256
Alternative Uses
Best Use
Mixed Use
$4.18M
$3.66M – $4.88M
NOI $292,613 @ 7.0% cap · market cap 2.93%
Second Best
Apartment 5plus
$4.10M
$3.59M – $4.79M
NOI $287,217 @ 7.0% cap · market cap 2.87%
Theoretical Best
Office A
$6.42M
$5.62M – $7.49M
NOI $449,255 @ 7.0% cap · market cap 4.49%
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
12
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
27,233
Businesses Nearby
Explore this area
Business Placement
Demographics for 10003, NY
57,076
Population
30,730
Households
1.9
Avg Household Size
32
Median Age
82%
College-Educated
96%
High-School Grad
0.6 sq mi
ZIP Area
95,127
Density / Sq Mi
$153,750
Median Household Income
$82,560
Median Earnings
$2,772
Median Rent
$1,137,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Mixed-use properties in New York, NY
Properties on Market for Mixed-use properties in New York
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The fully occupied property combines residential units with separate meters, air conditioning, and three-phase power.
Where is this mixed-use property located?
The property is located at 240 E 9th Street New York, NY.
What is the asking price?
The asking price for this property is $9,999,000.
What are key features of this property?
This property features: 13‑unit mixed‑use property with eight free‑market apartments; 9,180 square feet; built in 1900; 100% occupied
