Six-Unit Mixed-Use
For Sale
Contact for pricing
279 Church Street, New York, NY 10013
C6-2A/R8A equivalent zoning, Church Street frontage, and additional air rights support a versatile urban property profile.
Property Size8,971 SF
Lot Size0.04 Acres
Price / SF$1,031
Days on Market126
Property Features for 279 Church Street
General Information
Standard status
Active
Size
8,971 SF
Lot size
0.04 Acres
Property subtype
Retail, Mixed Use
Zoning
C6-2A/R8A equivalent
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$540,164
Additional Details
Road Access
Yes
Multifamily Units
6
Building Details
Buildings
1
Units
6
Tenancy
Multi
Listing Agency:
Marcus & Millichap - NYM Group
Listed By:
Joe Koicim · License #NY 10301208718
Source:
Crexi
Added: Apr 29
Changed: Aug 30
Last Checked: Sep 1 at 3:17AM
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 Marcus & Millichap - NYM Group
Investment Insights
Based on property information with market context.
This mixed-use property contains six units and approximately 8,971 square feet on a 25' x 75' lot. The building footprint measures 25' x 70', with 25 linear feet along Church Street. The property carries C6-2A/R8A equivalent zoning and includes 2,280 square feet of additional air rights.
The building is positioned on the east side of Church Street between Franklin Street and White Street in New York’s Tribeca neighborhood. Its established urban setting, defined street frontage, and mixed-use classification provide a clear framework for evaluating the existing improvements and available development capacity.
The building is positioned on the east side of Church Street between Franklin Street and White Street in New York’s Tribeca neighborhood. Its established urban setting, defined street frontage, and mixed-use classification provide a clear framework for evaluating the existing improvements and available development capacity.
Key Highlights
- Six‑unit mixed‑use property with approximately 8,971 square feet
- C6‑2A/R8A equivalent zoning
- 2,280 square feet of additional air rights
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
$285,951
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
3.09%
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%
$5,719,020
$5.7M
Cap Rate 7%
$4,085,014
$4.1M
Cap Rate 9%
$3,177,233
$3.2M
Market Conditions
NOI Build-Up for 8,971 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
$538.3K $60.00/SF
− Vacancy
−$80.7K −$9.00/SF
EGI
$457.5K $51.00/SF
− OpEx
−$171.6K −$19.13/SF
NOI
$286.0K $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%
$5,719,020
Cap Rate 7%
$4,085,014
Cap Rate 9%
$3,177,233
Alternative Uses
Best Use
Retail
$18.03M
$15.78M – $21.04M
NOI $1,262,440 @ 7.0% cap · market cap 13.65%
Second Best
Mixed Use
$4.09M
$3.57M – $4.77M
NOI $285,951 @ 7.0% cap · market cap 3.09%
Theoretical Best
Specialty Retail
$22.33M
$19.54M – $26.05M
NOI $1,563,107 @ 7.0% cap · market cap 16.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
31,868
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - C6-2A/R8A equivalent zoning, Church Street frontage, and additional air rights support a versatile urban property profile.
Where is this mixed-use property located?
The property is located at 279 Church Street New York, NY.
What is the asking price?
The asking price for this property is $9,250,000.
What are key features of this property?
This property features: Six‑unit mixed‑use property with approximately 8,971 square feet; C6‑2A/R8A equivalent zoning; 2,280 square feet of additional air rights
