Four-Story Mixed-Use
For Sale
$14,000,000
274 Canal Street, New York, NY 10013
COMMERCIAL - New York, NY
Property Size4,800 SF
Lot Size0.05 Acres
Price / SF$2,916
Days on Market988
Property Features for 274 Canal Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
M1-5
Basement
Unfinished
Subdivision
Tribeca
Standard status
Active
Size
4,800 SF
Lot size
0.05 Acres
Building Details
Building materials
Masonry
Listing Agency:
Ashford Homes LLC
(929) 364-1301
Listed By:
Ray Long Wu
(929) 364-1301
Added: Nov 28, 2023
Changed: Aug 4
Last Checked: Aug 12 at 4:06PM
MLS# 478469
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This four-story mixed-use property occupies a corner site at 274 Canal Street in New York’s Chinatown area. The building contains approximately 4,800 square feet and is constructed with masonry materials. It is offered in its existing condition, with an approved plan supporting both commercial and residential components.
The property is situated in Manhattan’s 10013 ZIP code and carries M1-5 zoning. Its corner configuration and established Chinatown setting provide clear physical and locational context for evaluating the building’s next use.
The property is situated in Manhattan’s 10013 ZIP code and carries M1-5 zoning. Its corner configuration and established Chinatown setting provide clear physical and locational context for evaluating the building’s next use.
Key Highlights
- Four‑story mixed‑use building at 274 Canal Street
- Approximately 4,800 square feet of property size
- M1‑5 zoning designation
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
$675,478
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
4.82%
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%
$13,509,560
$13.5M
Cap Rate 7%
$9,649,686
$9.6M
Cap Rate 9%
$7,505,311
$7.5M
Market Conditions
NOI Build-Up for 4,800 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
$1.13M $235.68/SF
− Vacancy
−$166.3K −$34.64/SF
EGI
$965.0K $201.04/SF
− OpEx
−$289.5K −$60.31/SF
NOI
$675.5K $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%
$13,509,560
Cap Rate 7%
$9,649,686
Cap Rate 9%
$7,505,311
Alternative Uses
Best Use
Retail
$9.65M
$8.44M – $11.26M
NOI $675,478 @ 7.0% cap · market cap 4.82%
Second Best
Mixed Use
$2.19M
$1.91M – $2.55M
NOI $153,000 @ 7.0% cap · market cap 1.09%
Theoretical Best
Specialty Retail
$11.95M
$10.45M – $13.94M
NOI $836,352 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
34,344
Businesses Nearby
Explore this area
Business Placement
Demographics for 10013, NY
31,042
Population
15,933
Households
1.9
Avg Household Size
36
Median Age
72%
College-Educated
89%
High-School Grad
0.5 sq mi
ZIP Area
62,084
Density / Sq Mi
$159,474
Median Household Income
$92,765
Median Earnings
$2,378
Median Rent
$2,000,001
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?
Mixed-use property - Corner property in Chinatown with M1-5 zoning, masonry construction, and an approved commercial-residential plan.
Where is this mixed-use property located?
The property is located at 274 Canal Street New York, NY.
What is the asking price?
The asking price for this property is $14,000,000.
What are key features of this property?
This property features: Four‑story mixed‑use building at 274 Canal Street; Approximately 4,800 square feet of property size; M1‑5 zoning designation
