Elevator-Served Office
For Sale
$575,000
508-210 Canal St, New York, NY 10013
Fifth-floor workspace near Canal Street shopping, dining, entertainment and public transit.
Property Size575 SF
Price / SF$1,000
Days on Market10
Property Features for 508-210 Canal St
General Information
Standard status
Active
Size
575 SF
Elevators
Yes
Site & Location
Neighborhood
Downtown
Public Transit
Yes
Additional Details
Floor
5
Property Use
Office
Taxes and HOA fees
Annual Taxes
$4,119
Listing Agency:
eXp Realty
(888) 276-0630
Listed By:
Ismail S. Kolya · License #NY10301218725
(914) 215-1540
Source:
Exprealty
Added: Oct 26
Changed: Nov 3
Last Checked: Nov 3 at 2:32PM
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 eXp Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 575-square-foot office unit occupies the fifth floor of an elevator building. The property is in Chinatown’s Canal Street business district, near retail, restaurants and entertainment venues.
Nearby subway service includes the N, Q, R, W, J, Z, 4 and 6 lines; M103, M55 and M22 buses also serve the area. Unit 509 is available for sale as well, with the option to acquire both units together.
Nearby subway service includes the N, Q, R, W, J, Z, 4 and 6 lines; M103, M55 and M22 buses also serve the area. Unit 509 is available for sale as well, with the option to acquire both units together.
Key Highlights
- 575‑square‑foot office on the fifth floor
- Elevator building in the Canal Street business district
- Nearby subway lines: N, Q, R, W, J, Z, 4 and 6
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,005
Cap Rate
3.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$360,100
$360.1K
Cap Rate 7%
$257,214
$257.2K
Cap Rate 9%
$200,056
$200.1K
Market Conditions
NOI Build-Up for 575 SF
Gross rent
$29.6K $51.48/SF
− Vacancy
−$5.6K −$9.73/SF
EGI
$24.0K $41.75/SF
− OpEx
−$6.0K −$10.44/SF
NOI
$18.0K $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 Rate 5%
$360,100
Cap Rate 7%
$257,214
Cap Rate 9%
$200,056
Alternative Uses
Best Use
Office B
$257.2K
$225.1K – $300.1K
NOI $18,005 @ 7.0% cap · market cap 3.13%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.43M
$1.25M – $1.67M
NOI $100,188 @ 7.0% cap · market cap 17.42%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
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
Frequently Asked Questions
What type of property is this?
Office unit - Fifth-floor workspace near Canal Street shopping, dining, entertainment and public transit.
Where is this office unit located?
The property is located at 508-210 Canal St New York, NY.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 575‑square‑foot office on the fifth floor; Elevator building in the Canal Street business district; Nearby subway lines: N, Q, R, W, J, Z, 4 and 6
