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 Market100
Property Features for 308 E 79th st
General Information
Standard status
Active
Size
510 SF
Property subtype
Commercial
Building Details
Building Size
510 SF
Listing Agency:
Douglas Elliman Real Estate Douglas Elliman Commercial
(336) 420-1993
Listed By:
Kristin Irwin · License #10301209876
(336) 420-1993
Source:
Elliman
Added: May 19
Changed: Aug 17
Last Checked: Aug 25 at 9:46AM
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 Douglas Elliman Real Estate Douglas Elliman Commercial
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 = 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
$15,969
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
3.56%
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%
$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
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
$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 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%
$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
Property Profile
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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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).
