Mixed-Use Property with Retail
For Sale
Contact for pricing
402 East 55th Street, New York, NY 10022
Ground-floor commercial space combines a customer-facing area with private professional offices in a prominent residential building.
Property Size4,880 SF
Price / SF$736.68
Days on Market124
Property Features for 402 East 55th Street
General Information
Standard status
Active
Size
4,880 SF
Class
A
Property subtype
Retail, Office, Hospitality
Zoning
r10
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Floor
Ground Floor
Office Units
1
Amenities
private restrooms
wheelchair accessibility
open-air plaza
security
Building Details
Year Built
1969
Buildings
1
Stories
40
Listing Agency:
First Pioneer Properties
Listed By:
David Dynak · License #NY 10301216476
Source:
Crexi
Added: May 2
Changed: Aug 30
Last Checked: Aug 30 at 11:55PM
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 First Pioneer Properties
Investment Insights
Based on property information with market context.
This 4,880 SF ground-floor mixed-use property is configured with distinct retail and professional office areas. The layout includes private restrooms, wheelchair accessibility, and a separation between customer-facing space and quieter rooms suited to consultations or administrative work. The property was built in 1969 and is currently arranged for professional use.
The suite occupies the base of a 38-story residential building in Sutton Place, with access to nearly 600 residential units within the building. Its Manhattan setting provides proximity to subway service on the 4, 5, 6, N, R, W, E, and M lines, as well as the FDR Drive. The space can accommodate professional, medical, wellness, or boutique fitness operations where both public-facing and private functions are useful.
The suite occupies the base of a 38-story residential building in Sutton Place, with access to nearly 600 residential units within the building. Its Manhattan setting provides proximity to subway service on the 4, 5, 6, N, R, W, E, and M lines, as well as the FDR Drive. The space can accommodate professional, medical, wellness, or boutique fitness operations where both public-facing and private functions are useful.
Key Highlights
- 4,880 SF of ground‑floor mixed‑use commercial space
- Separate retail and professional office areas
- Private restrooms and wheelchair accessibility
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
$155,550
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
4.33%
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%
$3,111,000
$3.1M
Cap Rate 7%
$2,222,143
$2.2M
Cap Rate 9%
$1,728,333
$1.7M
Market Conditions
NOI Build-Up for 4,880 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
$292.8K $60.00/SF
− Vacancy
−$43.9K −$9.00/SF
EGI
$248.9K $51.00/SF
− OpEx
−$93.3K −$19.13/SF
NOI
$155.6K $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 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%
$3,111,000
Cap Rate 7%
$2,222,143
Cap Rate 9%
$1,728,333
Alternative Uses
Best Use
Retail
$9.81M
$8.58M – $11.45M
NOI $686,736 @ 7.0% cap · market cap 19.10%
Second Best
Mixed Use
$2.22M
$1.94M – $2.59M
NOI $155,550 @ 7.0% cap · market cap 4.33%
Theoretical Best
Specialty Retail
$12.15M
$10.63M – $14.17M
NOI $850,291 @ 7.0% cap · market cap 23.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
39,600
Businesses Nearby
Explore this area
Business Placement
Demographics for 10022, NY
36,708
Population
25,686
Households
1.4
Avg Household Size
45
Median Age
84%
College-Educated
98%
High-School Grad
0.4 sq mi
ZIP Area
91,770
Density / Sq Mi
$171,038
Median Household Income
$119,657
Median Earnings
$2,928
Median Rent
$1,116,700
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?
Mixed-use property - Ground-floor commercial space combines a customer-facing area with private professional offices in a prominent residential building.
Where is this mixed-use property located?
The property is located at 402 East 55th Street New York, NY.
What is the asking price?
The asking price for this property is $3,595,000.
What are key features of this property?
This property features: 4,880 SF of ground‑floor mixed‑use commercial space; Separate retail and professional office areas; Private restrooms and wheelchair accessibility
