Mixed-Use Building with
For Sale
Contact for pricing
402 West 40th Street, New York, NY 10018
Two-level property combines a ground-floor commercial unit with residential space above in a Midtown West setting.
Property Size4,337 SF
Price / SF$759.74
Days on Market103
Property Features for 402 West 40th Street
General Information
Standard status
Active
Size
4,337 SF
Property subtype
Mixed Use
Building Details
Buildings
1
Listing Agency:
SERHANT
Listed By:
Bernadette Brennan · License #NY 10301221862
(646) 480-7665
Source:
Crexi
Added: Jul 7
Changed: Oct 14
Last Checked: Oct 16 at 8:01AM
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
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Investment Insights
Based on property information with market context.
Located at 402 West 40th Street between Ninth and Tenth Avenues, this mixed-use property contains approximately 4,337 square feet across a ground-floor commercial unit and a residential unit above. The configuration brings distinct commercial and residential components within one building.
The property is positioned near Times Square, Hudson Yards, and the Port Authority Bus Terminal, placing it within a dense Midtown West area shaped by office, transit, and tourism activity. Its location provides access to major Manhattan destinations and transportation infrastructure.
The property is positioned near Times Square, Hudson Yards, and the Port Authority Bus Terminal, placing it within a dense Midtown West area shaped by office, transit, and tourism activity. Its location provides access to major Manhattan destinations and transportation infrastructure.
Key Highlights
- Approximately 4,337 square feet total
- Ground‑floor commercial unit with residential unit above
- Mixed‑use building at 402 West 40th Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$138,242
Cap Rate
4.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,764,840
$2.8M
Cap Rate 7%
$1,974,886
$2.0M
Cap Rate 9%
$1,536,022
$1.5M
Market Conditions
NOI Build-Up for 4,337 SF
Gross rent
$260.2K $60.00/SF
− Vacancy
−$39.0K −$9.00/SF
EGI
$221.2K $51.00/SF
− OpEx
−$82.9K −$19.13/SF
NOI
$138.2K $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%
$2,764,840
Cap Rate 7%
$1,974,886
Cap Rate 9%
$1,536,022
Alternative Uses
Best Use
Retail
$8.72M
$7.63M – $10.17M
NOI $610,322 @ 7.0% cap · market cap 18.52%
Second Best
Mixed Use
$1.97M
$1.73M – $2.30M
NOI $138,242 @ 7.0% cap · market cap 4.20%
Theoretical Best
Specialty Retail
$10.80M
$9.45M – $12.59M
NOI $755,679 @ 7.0% cap · market cap 22.93%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
45,903
Businesses Nearby
Explore this area
Business Placement
Demographics for 10018, NY
11,145
Population
5,678
Households
2
Avg Household Size
35
Median Age
75%
College-Educated
92%
High-School Grad
0.3 sq mi
ZIP Area
37,150
Density / Sq Mi
$133,042
Median Household Income
$103,655
Median Earnings
$3,501
Median Rent
$947,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level property combines a ground-floor commercial unit with residential space above in a Midtown West setting.
Where is this mixed-use property located?
The property is located at 402 West 40th Street New York, NY.
What is the asking price?
The asking price for this property is $3,295,000.
What are key features of this property?
This property features: Approximately 4,337 square feet total; Ground‑floor commercial unit with residential unit above; Mixed‑use building at 402 West 40th Street
