Mixed-Use Building with Hotel
For Sale
Contact for pricing
302 E 45th St, New York, NY 10017
Nine guest rooms sit above a full-floor commercial space with cellar storage.
Property Size6,680 SF
Price / SF$1,107
Days on Market150
Property Features for 302 E 45th St
General Information
Standard status
Active
Size
6,680 SF
Property subtype
Hospitality, Mixed Use, Multifamily, Office, Retail
Zoning
C1-9
Occupancy
100%
Net Operating Income
$532,360
Financials
Asking Price
$7,400,000
Cap Rate
7.2%
Building Details
Buildings
1
Stories
4
Units
10
Tenancy
Multi
Listing Agency:
Conway Property Advisors
Listed By:
Ryan Conway · License #10401388445
Source:
Crexi
Added: Apr 4
Changed: Aug 30
Last Checked: Aug 30 at 10:31PM
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 Conway Property Advisors
Investment Insights
Based on property information with market context.
This C1-9 mixed-use building contains 6,680 SF across 10 total units. The configuration includes a full-floor retail or commercial space, a 1,000 SF cellar, and 9 hotel rooms on the floors above. The property is operated through separate commercial and hospitality leases, with 3% annual increases specified in both agreements. Interior repairs and maintenance are handled by the tenants.
Located at 302 E 45th St in New York, the property sits between 1st and 2nd Avenue. Its layout combines street-level commercial use with nine guest accommodations, creating a compact mixed-use format suited to both retail and hospitality operations.
Located at 302 E 45th St in New York, the property sits between 1st and 2nd Avenue. Its layout combines street-level commercial use with nine guest accommodations, creating a compact mixed-use format suited to both retail and hospitality operations.
Key Highlights
- 6,680 SF mixed‑use building with 10 total units
- Full‑floor retail/commercial space with an additional 1,000 SF cellar
- 9 hotel rooms positioned above the commercial space
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
$212,925
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
2.88%
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%
$4,258,500
$4.3M
Cap Rate 7%
$3,041,786
$3.0M
Cap Rate 9%
$2,365,833
$2.4M
Market Conditions
NOI Build-Up for 6,680 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
$400.8K $60.00/SF
− Vacancy
−$60.1K −$9.00/SF
EGI
$340.7K $51.00/SF
− OpEx
−$127.8K −$19.13/SF
NOI
$212.9K $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%
$4,258,500
Cap Rate 7%
$3,041,786
Cap Rate 9%
$2,365,833
Alternative Uses
Best Use
Retail
$13.43M
$11.75M – $15.67M
NOI $940,040 @ 7.0% cap · market cap 12.70%
Second Best
Mixed Use
$3.04M
$2.66M – $3.55M
NOI $212,925 @ 7.0% cap · market cap 2.88%
Theoretical Best
Specialty Retail
$16.63M
$14.55M – $19.40M
NOI $1,163,923 @ 7.0% cap · market cap 15.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
48,551
Businesses Nearby
Explore this area
Business Placement
Demographics for 10017, NY
17,401
Population
12,866
Households
1.4
Avg Household Size
38
Median Age
85%
College-Educated
97%
High-School Grad
0.3 sq mi
ZIP Area
58,003
Density / Sq Mi
$132,518
Median Household Income
$94,214
Median Earnings
$2,980
Median Rent
$808,200
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 - Nine guest rooms sit above a full-floor commercial space with cellar storage.
Where is this mixed-use property located?
The property is located at 302 E 45th St New York, NY.
What is the asking price?
The asking price for this property is $7,400,000.
What are key features of this property?
This property features: 6,680 SF mixed‑use building with 10 total units; Full‑floor retail/commercial space with an additional 1,000 SF cellar; 9 hotel rooms positioned above the commercial space
