Chelsea Mixed-Use Asset For
For Sale
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362 8th Avenue, New York, NY 10001
Mixed-use property in Chelsea with high visibility and transit access.
Property Size4,220 SF
Price / SF$829.38
Days on Market280
Property Features for 362 8th Avenue
General Information
Standard status
Active
Size
4,220 SF
Property subtype
Retail, Multifamily, Mixed Use
Investment Type
Stabilized
Net Operating Income
$290,361
Site & Location
Neighborhood
Midtown Manhattan
Building Details
Year Built
2006
Tenancy
Multi
Listing Agency:
Kassin Sabbagh Realty
Listed By:
Marc Sitt · License #NY
(646) 869-5528
Source:
Crexi
Added: Jan 23
Changed: Aug 8
Last Checked: Aug 8 at 6:38AM
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 Kassin Sabbagh Realty
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Investment Insights
Based on property information with market context.
Located in the heart of Chelsea, 362 8th Avenue is a mixed-use asset that benefits from transit access, being steps from Penn Station and multiple subway lines. This location drives consistent foot traffic and demand from residents and retailers. The property features a combination of residential units and ground-floor retail space. The building offers in-place income with upside potential through re-tenanting, modernization, and operational improvements. Situated amongst commercial corridors and new development activity, 362 8th Avenue is positioned in a high-growth, transit-oriented Manhattan location. The property size is 4,220 square feet.
Key Highlights
- Exceptional transit access near Penn Station and multiple subway lines.
- Stable in‑place income with upside through strategic re‑tenanting, modernization, and operational improvements.
- Located in the heart of Chelsea, one of Manhattan’s most active and resilient submarkets.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$134,513
Cap Rate
3.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,690,260
$2.7M
Cap Rate 7%
$1,921,614
$1.9M
Cap Rate 9%
$1,494,589
$1.5M
Market Conditions
NOI Build-Up for 4,220 SF
Gross rent
$253.2K $60.00/SF
− Vacancy
−$38.0K −$9.00/SF
EGI
$215.2K $51.00/SF
− OpEx
−$80.7K −$19.13/SF
NOI
$134.5K $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 Rate 5%
$2,690,260
Cap Rate 7%
$1,921,614
Cap Rate 9%
$1,494,589
Alternative Uses
Best Use
Retail
$8.48M
$7.42M – $9.90M
NOI $593,858 @ 7.0% cap · market cap 16.97%
Second Best
Mixed Use
$1.92M
$1.68M – $2.24M
NOI $134,513 @ 7.0% cap · market cap 3.84%
Theoretical Best
Specialty Retail
$10.50M
$9.19M – $12.25M
NOI $735,293 @ 7.0% cap · market cap 21.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
62,020
Businesses Nearby
Explore this area
Business Placement
Demographics for 10001, NY
32,612
Population
17,554
Households
1.9
Avg Household Size
35
Median Age
72%
College-Educated
93%
High-School Grad
0.6 sq mi
ZIP Area
54,353
Density / Sq Mi
$123,393
Median Household Income
$97,848
Median Earnings
$3,024
Median Rent
$793,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property in Chelsea with high visibility and transit access.
Where is this mixed-use property located?
The property is located at 362 8th Avenue New York, NY.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Exceptional transit access near Penn Station and multiple subway lines.; Stable in‑place income with upside through strategic re‑tenanting, modernization, and operational improvements.; Located in the heart of Chelsea, one of Manhattan’s most active and resilient submarkets.
