Mixed-Use Property with
For Sale
Contact for pricing
2733 Frederick Douglass Boulevard, New York, NY 10039
The property combines residential apartments with ground-floor retail spaces in Central Harlem.
Property Size12,434 SF
Price / SF$341.80
Days on Market10
Property Features for 2733 Frederick Douglass Boulevard
General Information
Standard status
Active
Size
12,434 SF
Property subtype
Mixed Use
Zoning
C4-4D (R8A)
Investment Type
Value Add
Net Operating Income
$263,500
Additional Details
Multifamily Units
12
Building Details
Stories
5
Units
12
Tenancy
Multi
Listing Agency:
Tahari Realty
Listed By:
Jack Sash Basora · License #10401388276
Source:
Crexi
Added: Aug 3
Changed: Aug 12
Last Checked: Aug 12 at 4:07AM
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 Tahari Realty
Investment Insights
Based on property information with market context.
Located at 2733 Frederick Douglass Boulevard in Central Harlem, this mixed-use property includes 12 residential apartments and 2 retail spaces at street level. The building contains approximately 12,434 existing square feet across its residential and commercial components.
The property is designated C4-4D (R8A) and includes remaining development rights. Its combination of apartment units and ground-floor retail creates a vertically integrated residential and commercial configuration along Frederick Douglass Boulevard.
The property is designated C4-4D (R8A) and includes remaining development rights. Its combination of apartment units and ground-floor retail creates a vertically integrated residential and commercial configuration along Frederick Douglass Boulevard.
Key Highlights
- 12 residential apartments
- 2 ground‑floor retail spaces
- Approximately 12,434 existing square feet
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
$389,026
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
9.15%
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%
$7,780,520
$7.8M
Cap Rate 7%
$5,557,514
$5.6M
Cap Rate 9%
$4,322,511
$4.3M
Market Conditions
NOI Build-Up for 12,434 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
$744.5K $59.88/SF
− Vacancy
−$37.2K −$2.99/SF
EGI
$707.3K $56.89/SF
− OpEx
−$318.3K −$25.60/SF
NOI
$389.0K $31.29/SF
Area
New York, NY
Vacancy
5.00%
Lease Rate
$59.88 /SF/Yr
Expense Ratio
45.00%
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%
$7,780,520
Cap Rate 7%
$5,557,514
Cap Rate 9%
$4,322,511
Alternative Uses
Best Use
Retail
$25.00M
$21.87M – $29.16M
NOI $1,749,769 @ 7.0% cap · market cap 41.17%
Second Best
Mixed Use
$5.66M
$4.95M – $6.61M
NOI $396,334 @ 7.0% cap · market cap 9.33%
Theoretical Best
Specialty Retail
$30.95M
$27.08M – $36.11M
NOI $2,166,500 @ 7.0% cap · market cap 50.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
5,364
Businesses Nearby
Explore this area
Business Placement
Demographics for 10039, NY
29,239
Population
13,300
Households
2.2
Avg Household Size
37
Median Age
27%
College-Educated
81%
High-School Grad
0.3 sq mi
ZIP Area
97,463
Density / Sq Mi
$48,792
Median Household Income
$36,142
Median Earnings
$1,211
Median Rent
$478,200
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 - The property combines residential apartments with ground-floor retail spaces in Central Harlem.
Where is this mixed-use property located?
The property is located at 2733 Frederick Douglass Boulevard New York, NY.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: 12 residential apartments; 2 ground‑floor retail spaces; Approximately 12,434 existing square feet
