Vacant Office
For Sale
$429,000
505-210 Canal St, New York, NY 10013
Fully vacant office suite suited for professional services in a high-traffic Chinatown setting.
Property Size437 SF
Price / SF$981.69
Days on Market96
Property Features for 505-210 Canal St
General Information
Standard status
Active
Size
437 SF
Taxes and HOA fees
Annual Taxes
$4,836
Building Details
Tenancy
Single
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Yan Mei (Jamie) Zheng
(917) 708-9966
Source:
Exprealty
Added: May 18
Changed: Aug 20
Last Checked: Aug 20 at 11:00AM
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 Tiger Realty
Investment Insights
Based on property information with market context.
This fully vacant office suite is offered for sale and totals 437 sq. ft. The space is ready to be tailored to a tenant or owner’s specific operational needs, making it a straightforward option for professionals seeking an immediately usable layout.
The suite is located in Chinatown at 505-210 Canal St, in an area described as high-traffic and positioned for day-to-day business convenience. The property also notes excellent visibility, which can support client-facing operations that benefit from street-level presence.
Monthly maintenance is approximately $507.65 and is described as covering essential services, providing ongoing cost predictability for ownership. With the suite already vacant, the space can be planned around your business requirements without the disruption of an existing tenant. Overall, it’s a compact, adaptable office offering in a busy commercial district, designed for professional uses and a practical, move-in-ready ownership decision.
The suite is located in Chinatown at 505-210 Canal St, in an area described as high-traffic and positioned for day-to-day business convenience. The property also notes excellent visibility, which can support client-facing operations that benefit from street-level presence.
Monthly maintenance is approximately $507.65 and is described as covering essential services, providing ongoing cost predictability for ownership. With the suite already vacant, the space can be planned around your business requirements without the disruption of an existing tenant. Overall, it’s a compact, adaptable office offering in a busy commercial district, designed for professional uses and a practical, move-in-ready ownership decision.
Key Highlights
- Fully vacant 437 SF office space ready for a new tenant’s buildout
- Suites professional services in a Chinatown high‑traffic setting
- Monthly maintenance is approximately $507.65 for essential services
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
$13,684
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
3.19%
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%
$273,680
$273.7K
Cap Rate 7%
$195,486
$195.5K
Cap Rate 9%
$152,044
$152.0K
Market Conditions
NOI Build-Up for 437 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
$22.5K $51.48/SF
− Vacancy
−$4.3K −$9.73/SF
EGI
$18.2K $41.75/SF
− OpEx
−$4.6K −$10.44/SF
NOI
$13.7K $31.31/SF
Area
New York, NY
Vacancy
18.90%
Lease Rate
$51.48 /SF/Yr
Expense Ratio
25.00%
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%
$273,680
Cap Rate 7%
$195,486
Cap Rate 9%
$152,044
Alternative Uses
Best Use
Office B
$195.5K
$171.1K – $228.1K
NOI $13,684 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.09M
$951.8K – $1.27M
NOI $76,143 @ 7.0% cap · market cap 17.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
19,820
Businesses Nearby
Explore this area
Business Placement
Demographics for 10013, NY
31,042
Population
15,933
Households
1.9
Avg Household Size
36
Median Age
72%
College-Educated
89%
High-School Grad
0.5 sq mi
ZIP Area
62,084
Density / Sq Mi
$159,474
Median Household Income
$92,765
Median Earnings
$2,378
Median Rent
$2,000,001
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?
Office units - Fully vacant office suite suited for professional services in a high-traffic Chinatown setting.
Where is this office units located?
The property is located at 505-210 Canal St New York, NY.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Fully vacant 437 SF office space ready for a new tenant’s buildout; Suites professional services in a Chinatown high‑traffic setting; Monthly maintenance is approximately $507.65 for essential services
