Bi-Level Retail Building with
For Sale
Contact for pricing
426 W Broadway, New York, NY 10012
All-glass bi-level retail building with high ceilings, plus two rented recording studios in the lower level.
Property Size4,750 SF
Price / SF$2,094
Days on Market420
Property Features for 426 W Broadway
General Information
Standard status
Active
Size
4,750 SF
Property subtype
RETAIL
Listing Agency:
Sinvin Real Estate
(212) 604-9000
Listed By:
Christopher Owles
(212) 604-9002
Source:
Moodyscre
Added: Jul 25, 2025
Changed: Sep 13
Last Checked: Sep 16 at 8:46PM
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 Sinvin Real Estate
Investment Insights
Based on property information with market context.
This bi-level retail building offers up to 8,100 SF of selling space arranged over two levels. The lower level includes two recording studios that are currently rented, creating an income component alongside the retail offering.
The property features spectacular all-glass frontage and high ceilings on both levels. It is positioned in central Soho at 426 W Broadway, New York, NY 10012.
The property features spectacular all-glass frontage and high ceilings on both levels. It is positioned in central Soho at 426 W Broadway, New York, NY 10012.
Key Highlights
- Bi‑level building with up to 8,100 SF of selling space
- Sale includes two recording studios on the lower level that are currently rented
- Spectacular all‑glass frontage and high ceilings on both levels
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
$668,442
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
6.72%
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%
$13,368,840
$13.4M
Cap Rate 7%
$9,549,171
$9.5M
Cap Rate 9%
$7,427,133
$7.4M
Market Conditions
NOI Build-Up for 4,750 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
$1.12M $235.68/SF
− Vacancy
−$164.6K −$34.64/SF
EGI
$954.9K $201.04/SF
− OpEx
−$286.5K −$60.31/SF
NOI
$668.4K $140.72/SF
Area
New York, NY
Vacancy
14.70%
Lease Rate
$235.68 /SF/Yr
Expense Ratio
30.00%
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%
$13,368,840
Cap Rate 7%
$9,549,171
Cap Rate 9%
$7,427,133
Alternative Uses
Best Use
Retail
$9.55M
$8.36M – $11.14M
NOI $668,442 @ 7.0% cap · market cap 6.72%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$11.82M
$10.35M – $13.79M
NOI $827,640 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
28,746
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 10012, NY
23,125
Population
14,568
Households
1.6
Avg Household Size
35
Median Age
83%
College-Educated
96%
High-School Grad
0.3 sq mi
ZIP Area
77,083
Density / Sq Mi
$130,938
Median Household Income
$88,301
Median Earnings
$2,731
Median Rent
$1,500,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Storefront property - All-glass bi-level retail building with high ceilings, plus two rented recording studios in the lower level.
Where is this storefront property located?
The property is located at 426 W Broadway New York, NY.
What is the asking price?
The asking price for this property is $9,950,000.
What are key features of this property?
This property features: Bi‑level building with up to 8,100 SF of selling space; Sale includes two recording studios on the lower level that are currently rented; Spectacular all‑glass frontage and high ceilings on both levels
