Prime Chinatown Commercial Corner
For Sale
$14,000,000
274 Canal Street, New York, NY 10013
Four-story mixed-use building in prime Chinatown location.
Property Size4,800 SF
Price / SF$2,870
Days on Market1058
Property Features for 274 Canal Street
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Commercial
Building Details
Building Size
4,800 SF
Listing Agency:
Ashford Homes LLC
Listed By:
Ray Long Wu
(929) 364-1301
Source:
Serhant
Added: Nov 28, 2023
Changed: Oct 7
Last Checked: Oct 19 at 4:30PM
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 Ashford Homes LLC
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Investment Insights
Based on property information with market context.
Located in the Chinatown area, this four-story commercial corner building offers a mixed-use opportunity. The property has an approved plan for 4,878 square feet of commercial space and 1,626 square feet of residential space. It is zoned M1-5 and is being sold in 'As Is' condition. The building's location is a key feature.
Key Highlights
- Prime Chinatown location
- Approved plan for mixed‑use development
- M1‑5 Zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$686,454
Cap Rate
4.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$13,729,080
$13.7M
Cap Rate 7%
$9,806,486
$9.8M
Cap Rate 9%
$7,627,267
$7.6M
Market Conditions
NOI Build-Up for 4,878 SF
Gross rent
$1.15M $235.68/SF
− Vacancy
−$169.0K −$34.64/SF
EGI
$980.6K $201.04/SF
− OpEx
−$294.2K −$60.31/SF
NOI
$686.5K $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 Rate 5%
$13,729,080
Cap Rate 7%
$9,806,486
Cap Rate 9%
$7,627,267
Alternative Uses
Best Use
Retail
$9.81M
$8.58M – $11.44M
NOI $686,454 @ 7.0% cap · market cap 4.90%
Second Best
Mixed Use
$2.22M
$1.94M – $2.59M
NOI $155,486 @ 7.0% cap · market cap 1.11%
Theoretical Best
Specialty Retail
$12.14M
$10.62M – $14.17M
NOI $849,943 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Four-story mixed-use building in prime Chinatown location.
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: Prime Chinatown location; Approved plan for mixed‑use development; M1‑5 Zoning
