Upper East Side Commercial
For Sale
$449,000
308 E 79th st, New York, NY 10075
Flexible ground-floor commercial co-op in prime Upper East Side location.
Property Size510 SF
Days on Market145
Property Features for 308 E 79th st
General Information
Standard status
Active
Size
510 SF
Property subtype
Commercial
Building Details
Building Size
510 SF
Listed By:
Kristin Irwin
(336) 420-1993
Source:
Elliman
Added: May 19
Changed: Oct 4
Last Checked: Oct 9 at 10:47PM
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 Kristin Irwin
Investment Insights
Based on property information with market context.
Located in the Upper East Side, Unit 1B at 308 East 79th Street presents an opportunity to acquire a ground-floor commercial co-op. The space is situated within a pre-war cooperative building. Currently configured as a medical office, the unit is suitable for professional, wellness, therapy, consulting, or boutique office use, as well as owner-user occupancy. The property features direct ground-floor access and neighborhood convenience, surrounded by residential buildings, luxury housing, established retail, and dining options. The location provides accessibility to major transportation options within an affluent Manhattan submarket. The co-op allows for residential conversion, pending co-op approval and regulations, offering flexibility for investors, live-work users, or end-users in the Upper East Side market. The location has a bike score of 80, indicating it is very bikeable, a walk score of 100, designating it as a walker's paradise, and a transit score of 100, identifying it as a rider's paradise.
Key Highlights
- Prime Upper East Side location with excellent walk and transit scores (100, 100 respectively) and a bike score of 80.
- Flexible ground‑floor commercial co‑op suitable for various professional uses.
- Residential conversion potential (subject to co‑op approval).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,969
Cap Rate
3.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$319,380
$319.4K
Cap Rate 7%
$228,129
$228.1K
Cap Rate 9%
$177,433
$177.4K
Market Conditions
NOI Build-Up for 510 SF
Gross rent
$26.3K $51.48/SF
− Vacancy
−$5.0K −$9.73/SF
EGI
$21.3K $41.75/SF
− OpEx
−$5.3K −$10.44/SF
NOI
$16.0K $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 Rate 5%
$319,380
Cap Rate 7%
$228,129
Cap Rate 9%
$177,433
Alternative Uses
Best Use
Office B
$228.1K
$199.6K – $266.2K
NOI $15,969 @ 7.0% cap · market cap 3.56%
Second Best
Healthcare Medical
$217.2K
$190.0K – $253.4K
NOI $15,202 @ 7.0% cap · market cap 3.39%
Theoretical Best
Specialty Retail
$1.27M
$1.11M – $1.48M
NOI $88,862 @ 7.0% cap · market cap 19.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
24,726
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10075, NY
27,796
Population
16,415
Households
1.7
Avg Household Size
41
Median Age
85%
College-Educated
98%
High-School Grad
0.2 sq mi
ZIP Area
138,980
Density / Sq Mi
$146,556
Median Household Income
$112,549
Median Earnings
$2,390
Median Rent
$1,097,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Similar Off Market Nearby
- Bond Vet - Upper East Side at 62nd Street — 1049 3rd Ave, Manhattan, NY 10065
- Veterinary Emergency Group — 1215 2nd Ave, New York, NY 10065
- Biscuits & Bath — 1035 3rd ave, new york, ny 10065
- Sutton Animal Hospital — 1147 1st Ave., New York, NY 10065
- Lawrence a Zola, DVM, PC, — 354 E 66th St, New York, NY 10065
Frequently Asked Questions
What type of property is this?
Medical Office Space - Flexible ground-floor commercial co-op in prime Upper East Side location.
Where is this medical office space located?
The property is located at 308 E 79th st New York, NY.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Prime Upper East Side location with excellent walk and transit scores (100, 100 respectively) and a bike score of 80.; Flexible ground‑floor commercial co‑op suitable for various professional uses.; Residential conversion potential (subject to co‑op approval).
