Move-In Ready Medical Office
For Sale
$950,000
302-128 Mott St, New York, NY 10012
Commercial condo unit is move-in ready and offered for immediate occupancy in Manhattan’s Mott Street corridor.
Property Size1,197 SF
Price / SF$793.65
Days on Market186
Property Features for 302-128 Mott St
General Information
Standard status
Active
Size
1,197 SF
Taxes and HOA fees
Annual Taxes
$11,035
Listing Agency:
RE/MAX Edge
Listed By:
Allan H. Zhu · License #AHZ7089
(718) 612-3088
Source:
Exprealty
Added: Mar 13
Changed: Sep 11
Last Checked: Sep 13 at 2:55PM
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 RE/MAX Edge
Investment Insights
Based on property information with market context.
A prime commercial condo unit at 128 Mott St, suite 302, offering approximately 1,200 SF of move-in ready space with no renovation required. The layout is suited for professional use, with existing improvements intended to support immediate occupancy.
The unit is located in Manhattan within the Little Italy and Chinatown area, on Mott Street. The surrounding mix includes restaurants, retail, and residential buildings, supporting day-to-day foot traffic along a busy commercial corridor.
This offering is presented as a turnkey option for an owner-occupant or buyer seeking a professionally oriented office space with the ability to begin operations right away.
The unit is located in Manhattan within the Little Italy and Chinatown area, on Mott Street. The surrounding mix includes restaurants, retail, and residential buildings, supporting day-to-day foot traffic along a busy commercial corridor.
This offering is presented as a turnkey option for an owner-occupant or buyer seeking a professionally oriented office space with the ability to begin operations right away.
Key Highlights
- Approx. 1,200 SF commercial condo at 128 Mott St #302 in Manhattan (10013)
- Move‑in ready with immediate occupancy available
- Located on Manhattan’s Mott St commercial corridor in Little Italy/Chinatown
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
$37,481
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
3.95%
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%
$749,620
$749.6K
Cap Rate 7%
$535,443
$535.4K
Cap Rate 9%
$416,456
$416.5K
Market Conditions
NOI Build-Up for 1,197 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
$61.6K $51.48/SF
− Vacancy
−$11.6K −$9.73/SF
EGI
$50.0K $41.75/SF
− OpEx
−$12.5K −$10.44/SF
NOI
$37.5K $31.31/SF
Area
New York, NY
Vacancy
18.90%
Lease Rate
$51.48 /SF/Yr
Expense Ratio
25.00%
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%
$749,620
Cap Rate 7%
$535,443
Cap Rate 9%
$416,456
Alternative Uses
Best Use
Office B
$535.4K
$468.5K – $624.7K
NOI $37,481 @ 7.0% cap · market cap 3.95%
Second Best
Healthcare Medical
$509.7K
$446.0K – $594.7K
NOI $35,680 @ 7.0% cap · market cap 3.76%
Theoretical Best
Specialty Retail
$2.98M
$2.61M – $3.48M
NOI $208,565 @ 7.0% cap · market cap 21.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
32,206
Businesses Nearby
Explore this area
Business Placement
Demographics for 10012, NY
23,125
Population
14,568
Households
1.6
Avg Household Size
35
Median Age
83%
College-Educated
96%
High-School Grad
0.3 sq mi
ZIP Area
77,083
Density / Sq Mi
$130,938
Median Household Income
$88,301
Median Earnings
$2,731
Median Rent
$1,500,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Commercial condo unit is move-in ready and offered for immediate occupancy in Manhattan’s Mott Street corridor.
Where is this office units located?
The property is located at 302-128 Mott St New York, NY.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Approx. 1,200 SF commercial condo at 128 Mott St #302 in Manhattan (10013); Move‑in ready with immediate occupancy available; Located on Manhattan’s Mott St commercial corridor in Little Italy/Chinatown
