Retail Space Near Subway
For Sale
Contact for pricing
267-269 West 23rd Street, New York, NY 10011
Located between Seventh and Eighth Avenues with access to multiple subway lines along 23rd Street.
Property Size6,218 SF
Price / SF$2,171
Days on Market9
Property Features for 267-269 West 23rd Street
General Information
Standard status
Active
Size
6,218 SF
Property subtype
RETAIL
Listing Agency:
Ariel Property Advisors
(212) 544-9500
Listed By:
Howard Raber · License #401085153
(212) 544-9500
Source:
Moodyscre
Added: Aug 3
Changed: Aug 5
Last Checked: Aug 10 at 4:19AM
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 Ariel Property Advisors
Investment Insights
Based on property information with market context.
This 6,218-square-foot retail space occupies 267-269 West 23rd Street in New York, NY 10011. The property is positioned in Chelsea between Seventh and Eighth Avenues, placing the space within a Manhattan commercial setting.
Multiple subway lines run along 23rd Street near the property, providing transit access throughout Manhattan. The address offers a clearly identified retail location with proximity to established avenues and subway service.
Multiple subway lines run along 23rd Street near the property, providing transit access throughout Manhattan. The address offers a clearly identified retail location with proximity to established avenues and subway service.
Key Highlights
- 6,218‑square‑foot retail space
- 267‑269 West 23rd Street, New York, NY 10011
- Situated between Seventh and Eighth Avenues in Chelsea
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
$875,025
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
6.48%
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%
$17,500,500
$17.5M
Cap Rate 7%
$12,500,357
$12.5M
Cap Rate 9%
$9,722,500
$9.7M
Market Conditions
NOI Build-Up for 6,218 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
$1.47M $235.68/SF
− Vacancy
−$215.4K −$34.64/SF
EGI
$1.25M $201.04/SF
− OpEx
−$375.0K −$60.31/SF
NOI
$875.0K $140.72/SF
Area
New York, NY
Vacancy
14.70%
Lease Rate
$235.68 /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%
$17,500,500
Cap Rate 7%
$12,500,357
Cap Rate 9%
$9,722,500
Alternative Uses
Best Use
Retail
$12.50M
$10.94M – $14.58M
NOI $875,025 @ 7.0% cap · market cap 6.48%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$15.48M
$13.54M – $18.06M
NOI $1,083,424 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
55,833
Businesses Nearby
Explore this area
Business Placement
Demographics for 10011, NY
53,318
Population
35,049
Households
1.5
Avg Household Size
39
Median Age
79%
College-Educated
96%
High-School Grad
0.6 sq mi
ZIP Area
88,863
Density / Sq Mi
$146,571
Median Household Income
$113,503
Median Earnings
$2,868
Median Rent
$1,165,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Located between Seventh and Eighth Avenues with access to multiple subway lines along 23rd Street.
Where is this retail space located?
The property is located at 267-269 West 23rd Street New York, NY.
What is the asking price?
The asking price for this property is $13,500,000.
What are key features of this property?
This property features: 6,218‑square‑foot retail space; 267‑269 West 23rd Street, New York, NY 10011; Situated between Seventh and Eighth Avenues in Chelsea
