Turn-Key Professional Office
For Sale
Contact for pricing
330 3rd Avenue, New York, NY 10010
A turn-key Midtown South office suite suited for client-facing medical, wellness, or professional use.
Property Size885 SF
Price / SF$500
Days on Market84
Property Features for 330 3rd Avenue
General Information
Standard status
Active
Size
885 SF
Property subtype
Retail, Office
Listing Agency:
SERHANT
(646) 480-7665
Listed By:
Bernadette Brennan · License #NY 10301221862
Source:
Crexi
Added: Jun 2
Changed: Aug 21
Last Checked: Aug 24 at 11:14AM
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 SERHANT
Investment Insights
Based on property information with market context.
This for-sale office suite at 330 Third Avenue is presented as a turn-key space, offering a polished setting for professional and client-facing tenants. The suite is described as approximately 800+ square feet and is laid out for efficient day-to-day operation, with strong natural light and a professional building presence.
Located in the heart of Kips Bay/Midtown South, the property is positioned amid steady daytime population and dense residential traffic. It is also noted for its proximity to major healthcare institutions, including NYU Langone and Bellevue. Transit access is highlighted with immediate service to the 6 train at 28th Street and 33rd Street, plus crosstown bus service and walkable access to Gramercy, Murray Hill, and NoMad.
The configuration and turn-key presentation make this suite a practical fit for medical practitioners, wellness providers, legal professionals, or boutique service businesses seeking a ready-to-operate office in a highly trafficked Midtown South corridor. For tenants and buyers prioritizing a professional address and established client base from surrounding activity, this suite provides a compact, flexible option within a mainstream business location.
Located in the heart of Kips Bay/Midtown South, the property is positioned amid steady daytime population and dense residential traffic. It is also noted for its proximity to major healthcare institutions, including NYU Langone and Bellevue. Transit access is highlighted with immediate service to the 6 train at 28th Street and 33rd Street, plus crosstown bus service and walkable access to Gramercy, Murray Hill, and NoMad.
The configuration and turn-key presentation make this suite a practical fit for medical practitioners, wellness providers, legal professionals, or boutique service businesses seeking a ready-to-operate office in a highly trafficked Midtown South corridor. For tenants and buyers prioritizing a professional address and established client base from surrounding activity, this suite provides a compact, flexible option within a mainstream business location.
Key Highlights
- Premier professional office suite at 330 Third Avenue in Kips Bay
- 800+ square foot space with an efficient layout
- Suitable for client‑facing medical, wellness, legal, or boutique service uses
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
$27,712
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
6.26%
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%
$554,240
$554.2K
Cap Rate 7%
$395,886
$395.9K
Cap Rate 9%
$307,911
$307.9K
Market Conditions
NOI Build-Up for 885 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
$45.6K $51.48/SF
− Vacancy
−$8.6K −$9.73/SF
EGI
$36.9K $41.75/SF
− OpEx
−$9.2K −$10.44/SF
NOI
$27.7K $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%
$554,240
Cap Rate 7%
$395,886
Cap Rate 9%
$307,911
Alternative Uses
Best Use
Office B
$395.9K
$346.4K – $461.9K
NOI $27,712 @ 7.0% cap · market cap 6.26%
Second Best
Healthcare Medical
$376.9K
$329.8K – $439.7K
NOI $26,380 @ 7.0% cap · market cap 5.96%
Theoretical Best
Specialty Retail
$2.20M
$1.93M – $2.57M
NOI $154,202 @ 7.0% cap · market cap 34.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
49,216
Businesses Nearby
Explore this area
Business Placement
Demographics for 10010, NY
33,991
Population
19,014
Households
1.8
Avg Household Size
35
Median Age
81%
College-Educated
97%
High-School Grad
0.4 sq mi
ZIP Area
84,978
Density / Sq Mi
$156,127
Median Household Income
$109,691
Median Earnings
$3,113
Median Rent
$1,037,900
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - A turn-key Midtown South office suite suited for client-facing medical, wellness, or professional use.
Where is this office units located?
The property is located at 330 3rd Avenue New York, NY.
What is the asking price?
The asking price for this property is $442,500.
What are key features of this property?
This property features: Premier professional office suite at 330 Third Avenue in Kips Bay; 800+ square foot space with an efficient layout; Suitable for client‑facing medical, wellness, legal, or boutique service uses
