Five-Story Mixed-Use
For Sale
$2,888,000
303 W 116th Street New York, Manhattan, NY 10026
Commercial Sale, New York (Manhattan), NY
Property Size6,590 SF
Lot Size0.05 Acres
Price / SF$438.24
Days on Market334
Property Features for 303 W 116th Street New York
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Parking features
On Street
Basement
Full
Standard status
Active
APN
1943-0128
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
12801
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1910
Floors in Building
5
Number of units
5
Building materials
Brick
Listing Agency:
RE/MAX Distinguished Hms.&Prop · RE/MAX International
(914) 346-8255
Listed By:
Ayleen Aybar · License #1040129216
(816) 812-6240
Added: Sep 24, 2025
Changed: Aug 20
Last Checked: Aug 23 at 1:06AM
MLS# 916944
Copyright © 2026 OneKey MLS. 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 five-story brick mixed-use building contains four full-floor residential apartments above a ground-floor retail space. The property offers approximately 6,590+ square feet, with hardwood floors, high ceilings, and a full basement connected directly to the backyard. Public water and sewer serve the building, while heating is provided by baseboard systems and cooling by window or wall units.
The building occupies a 20' x 100.92' lot with an approximately 20' x 63' footprint at 303 W 116th Street in New York (Manhattan). It is near the B/C trains and close to the 2/3 lines, with Columbia University, Morningside Park, and dining along Frederick Douglass Blvd. nearby. The property is zoned R7A / R8A with a C1-4 commercial overlay, and all units are delivered vacant.
The building occupies a 20' x 100.92' lot with an approximately 20' x 63' footprint at 303 W 116th Street in New York (Manhattan). It is near the B/C trains and close to the 2/3 lines, with Columbia University, Morningside Park, and dining along Frederick Douglass Blvd. nearby. The property is zoned R7A / R8A with a C1-4 commercial overlay, and all units are delivered vacant.
Key Highlights
- Five‑story brick building with four full‑floor residential apartments over ground‑floor retail
- Approximately 6,590+ square feet of total space
- Full basement with direct access to the backyard
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
$210,056
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
7.27%
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%
$4,201,120
$4.2M
Cap Rate 7%
$3,000,800
$3.0M
Cap Rate 9%
$2,333,956
$2.3M
Market Conditions
NOI Build-Up for 6,590 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
$395.4K $60.00/SF
− Vacancy
−$59.3K −$9.00/SF
EGI
$336.1K $51.00/SF
− OpEx
−$126.0K −$19.13/SF
NOI
$210.1K $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%
$4,201,120
Cap Rate 7%
$3,000,800
Cap Rate 9%
$2,333,956
Alternative Uses
Best Use
Retail
$13.25M
$11.59M – $15.46M
NOI $927,375 @ 7.0% cap · market cap 32.11%
Second Best
Mixed Use
$3.00M
$2.63M – $3.50M
NOI $210,056 @ 7.0% cap · market cap 7.27%
Theoretical Best
Specialty Retail
$16.40M
$14.35M – $19.14M
NOI $1,148,242 @ 7.0% cap · market cap 39.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
9,113
Businesses Nearby
Explore this area
Business Placement
Demographics for 10026, NY
35,644
Population
17,648
Households
2
Avg Household Size
37
Median Age
54%
College-Educated
90%
High-School Grad
0.4 sq mi
ZIP Area
89,110
Density / Sq Mi
$74,140
Median Household Income
$56,919
Median Earnings
$1,546
Median Rent
$1,014,100
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Mixed-use property - Brick property with residential apartments, ground-floor retail, and a full basement with backyard access.
Where is this mixed-use property located?
The property is located at 303 W 116th Street New York Manhattan, NY.
What is the asking price?
The asking price for this property is $2,888,000.
What are key features of this property?
This property features: Five‑story brick building with four full‑floor residential apartments over ground‑floor retail; Approximately 6,590+ square feet of total space; Full basement with direct access to the backyard
