Mixed-Use Property | 5,225
For Sale
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243 Malcolm X Blvd, New York, NY 10027
Mixed-use property available for sale in New York, NY.
Property Size5,225 SF
Price / SF$411.48
Days on Market187
Property Features for 243 Malcolm X Blvd
General Information
Standard status
Active
Size
5,225 SF
Property subtype
Mixed Use, Multifamily
Listing Agency:
Wingate Advisors
Listed By:
Ariel Ben Ezra · License #10311210512
Source:
Crexi
Added: Feb 19
Changed: Aug 8
Last Checked: Aug 8 at 6:37AM
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 Wingate Advisors
Investment Insights
Based on property information with market context.
This mixed-use property offers 5,225 square feet of space and is available for sale.
Key Highlights
- Mixed use property
- Boasting 5,225 sqft
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
$166,547
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
7.75%
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%
$3,330,940
$3.3M
Cap Rate 7%
$2,379,243
$2.4M
Cap Rate 9%
$1,850,522
$1.9M
Market Conditions
NOI Build-Up for 5,225 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
$313.5K $60.00/SF
− Vacancy
−$47.0K −$9.00/SF
EGI
$266.5K $51.00/SF
− OpEx
−$99.9K −$19.13/SF
NOI
$166.5K $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 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%
$3,330,940
Cap Rate 7%
$2,379,243
Cap Rate 9%
$1,850,522
Alternative Uses
Best Use
Mixed Use
$2.38M
$2.08M – $2.78M
NOI $166,547 @ 7.0% cap · market cap 7.75%
Second Best
Apartment 5plus
$2.34M
$2.04M – $2.72M
NOI $163,476 @ 7.0% cap · market cap 7.60%
Theoretical Best
Specialty Retail
$13.01M
$11.38M – $15.17M
NOI $910,404 @ 7.0% cap · market cap 42.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,815
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property available for sale in New York, NY.
Where is this mixed-use property located?
The property is located at 243 Malcolm X Blvd New York, NY.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: Mixed use property; Boasting 5,225 sqft
