Mixed-Use Apartment and Retail
332 E 9th St, New York, NY 10003
For Sale
$10,500,000
Five-story, 25-foot-wide mixed-use building with 22 apartments and two retail units along an East Village corridor.
Property Size11,400 SF
Price / SF$921.05
Days on Market107
Property Features for 332 E 9th St
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Additional Details
Cap Rate
Multifamily Units
Amenities
Prime East Village Location Between 1st and 2nd Avenue
Two Commercial Spaces in Prime Corridor
22 Apartments with 50% Free Market Component
Strong in Place Cash Flow
Close proximity to Tompkins Square Park
Building Details
Building Size
Stories
Units
Tenancy
Listing Agency:
Marcus & Millichap - Manhattan
Listed By:
Dylan Torey · License #License(s): NY: 10401287828
(646) 805-1444
Source:
Marcusmillichap
Added: Jul 26
Changed: Nov 3
Last Checked: Nov 8 at 2:19AM
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 Marcus & Millichap - Manhattan
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Investment Insights
Based on property information with market context.
This five-story, 25-foot-wide mixed-use building includes 22 apartments and two retail units. The property measures 25 feet by 76 feet and is zoned R8B (4.07 FAR). All free-market residential units, common areas, and the retail spaces have been upgraded.
The two commercial units total approximately 1,750 square feet and are occupied by Lady Wong Bakery and Sushi Kai, each operating at the property for more than a decade. The building is located in the East Village between First and Second Avenues, one block from Tompkins Square Park and St. Mark's Place.
With half of the residential units described as free-market and positioned above street-level retail, the property offers an established mixed-use configuration designed for ongoing residential and retail occupancy.
The two commercial units total approximately 1,750 square feet and are occupied by Lady Wong Bakery and Sushi Kai, each operating at the property for more than a decade. The building is located in the East Village between First and Second Avenues, one block from Tompkins Square Park and St. Mark's Place.
With half of the residential units described as free-market and positioned above street-level retail, the property offers an established mixed-use configuration designed for ongoing residential and retail occupancy.
Key Highlights
- 11,400 SF, five‑story mixed‑use building with 25‑ft width (25 ft x 76 ft) and 22 apartments plus two retail units
- Two retail units totaling approx. 1,750 SF leased to Lady Wong Bakery and Sushi Kai, each operating at the property for 10+ years
- Building includes 22 apartments, with 50% free‑market units for potential future rent increases and repositioning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$356,675
Cap Rate
3.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,133,500
$7.1M
Cap Rate 7%
$5,095,357
$5.1M
Cap Rate 9%
$3,963,056
$4.0M
Market Conditions
NOI Build-Up for 11,400 SF
Gross rent
$682.6K $59.88/SF
− Vacancy
−$34.1K −$2.99/SF
EGI
$648.5K $56.89/SF
− OpEx
−$291.8K −$25.60/SF
NOI
$356.7K $31.29/SF
Area
New York, NY
Vacancy
5.00%
Lease Rate
$59.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,133,500
Cap Rate 7%
$5,095,357
Cap Rate 9%
$3,963,056
Alternative Uses
Best Use
Apartment 5plus
$5.10M
$4.46M – $5.94M
NOI $356,675 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.97M
$6.97M – $9.30M
NOI $557,899 @ 7.0% cap · market cap 5.31%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
22
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
7,969
Businesses Nearby
Explore this area
Business Placement
Demographics for 10003, NY
57,076
Population
30,730
Households
1.9
Avg Household Size
32
Median Age
82%
College-Educated
96%
High-School Grad
0.6 sq mi
ZIP Area
95,127
Density / Sq Mi
$153,750
Median Household Income
$82,560
Median Earnings
$2,772
Median Rent
$1,137,000
Median Home Value
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Market
Properties on Market for Apartment buildings in New York
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Five-story, 25-foot-wide mixed-use building with 22 apartments and two retail units along an East Village corridor.
Where is this apartment building located?
The property is located at 332 E 9th St New York, NY.
What is the asking price?
The asking price for this property is $10,500,000.
What are key features of this property?
This property features: 11,400 SF, five‑story mixed‑use building with 25‑ft width (25 ft x 76 ft) and 22 apartments plus two retail units; Two retail units totaling approx. 1,750 SF leased to Lady Wong Bakery and Sushi Kai, each operating at the property for 10+ years; Building includes 22 apartments, with 50% free‑market units for potential future rent increases and repositioning
