13-Unit Mixed-Use
For Sale
$9,999,000
240 E 9th Street New York, Manhattan, NY 10003
The property combines eight free-market apartments with commercial space in a fully occupied Manhattan building.
Property Size9,180 SF
Price / SF$1,089
Days on Market104
Property Features for 240 E 9th Street New York
General Information
Standard status
Active
Size
9,180 SF
Property subtype
Commercial
Zoning
R8B
Occupancy
100%
Net Operating Income
$394,354
Site & Location
Highway Access
Yes
Road Access
Yes
Mixed-Use Components
retail, residential
Units
Multifamily Units
12
Individually Metered Utilities
unspecified utilities
Additional Details
Gross Income
$549,277
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$121,601
Amenities
separate meters
3 phase power
all new led lighting
a/c
Building Details
Building Size
9,180 SF
Year Built
1900
Buildings
1
Units
13
Tenancy
Multi
Listing Agency:
All Island Estates Realty Corp
(516) 783-5600
Listed By:
Richard Matt Shane · License #1020151
(516) 279-8828
Source:
Croninreale
Added: Jul 13
Changed: Oct 23
Last Checked: Oct 23 at 4:29PM
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
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Investment Insights
Based on property information with market context.
At 240 E 9th Street, this 9,180-square-foot mixed-use building dates to 1900 and contains 13 units, including eight free-market apartments. The property is fully occupied and features 8-foot ceilings, separate meters, three-phase power, air conditioning, and newly installed LED lighting.
The building is in Manhattan between 2nd and 3rd Avenues, six blocks from the FDR Drive. Nearby businesses and institutions include NYU Langone, Whole Foods, Target, Chase Bank, and Trader Joe’s.
The building is in Manhattan between 2nd and 3rd Avenues, six blocks from the FDR Drive. Nearby businesses and institutions include NYU Langone, Whole Foods, Target, Chase Bank, and Trader Joe’s.
Key Highlights
- 13‑unit mixed‑use property with eight free‑market apartments
- 9,180 square feet; built in 1900
- Fully 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
Specialty Retail
$22.85M
$19.99M – $26.66M
NOI $1,599,523 @ 7.0% cap · market cap 16.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
12
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road 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
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines eight free-market apartments with commercial space in a fully occupied Manhattan building.
Where is this mixed-use property located?
The property is located at 240 E 9th Street New York Manhattan, 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; Fully occupied
