Vacant Commercial Kitchen
For Sale
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532 W 46th St, New York, NY 10036
Vacant commercial kitchen facility formerly serving as a catering hub for food preparation, takeout, and delivery operations.
Property Size10,500 SF
Price / SF$333.33
Days on Market84
Property Features for 532 W 46th St
General Information
Standard status
Active
Size
10,500 SF
Property subtype
RETAIL
Listing Agency:
Ariel Property Advisors
Listed By:
Christoffer Brodhead
(212) 544-9500
Source:
Moodyscre
Added: Jun 24
Changed: Sep 7
Last Checked: Sep 14 at 11:55AM
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 Ariel Property Advisors
Investment Insights
Based on property information with market context.
532 W 46th St is a vacant commercial kitchen facility that was previously used by a national catering company as a hub for food preparation, takeout, and delivery operations throughout Manhattan. The space is currently available for food-service operators seeking kitchen-focused functionality.
The property totals 10,500 SF, providing a dedicated footprint for in-house food prep and back-of-house workflow tied to takeout and delivery service.
With its established catering-kitchen use, the facility may fit restaurants, caterers, and other food-service businesses looking for a ready kitchen environment.
The property totals 10,500 SF, providing a dedicated footprint for in-house food prep and back-of-house workflow tied to takeout and delivery service.
With its established catering-kitchen use, the facility may fit restaurants, caterers, and other food-service businesses looking for a ready kitchen environment.
Key Highlights
- Vacant commercial kitchen facility formerly used by a national catering company
- Food preparation, takeout, and delivery operations throughout Manhattan
- 10,500 SF facility for food‑service kitchen workflow
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
$152,529
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
4.36%
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%
$3,050,580
$3.1M
Cap Rate 7%
$2,178,986
$2.2M
Cap Rate 9%
$1,694,767
$1.7M
Market Conditions
NOI Build-Up for 10,500 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
$230.6K $21.96/SF
− Vacancy
−$12.7K −$1.21/SF
EGI
$217.9K $20.75/SF
− OpEx
−$65.4K −$6.23/SF
NOI
$152.5K $14.53/SF
Area
New York, NY
Vacancy
5.50%
Lease Rate
$21.96 /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%
$3,050,580
Cap Rate 7%
$2,178,986
Cap Rate 9%
$1,694,767
Alternative Uses
Best Use
Specialty Retail
$26.14M
$22.87M – $30.49M
NOI $1,829,520 @ 7.0% cap · market cap 52.27%
Second Best
Industrial
$2.18M
$1.91M – $2.54M
NOI $152,529 @ 7.0% cap · market cap 4.36%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
18,632
Businesses Nearby
Explore this area
Business Placement
Demographics for 10036, NY
33,868
Population
22,473
Households
1.5
Avg Household Size
37
Median Age
69%
College-Educated
93%
High-School Grad
0.4 sq mi
ZIP Area
84,670
Density / Sq Mi
$100,225
Median Household Income
$86,122
Median Earnings
$2,301
Median Rent
$988,000
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
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Frequently Asked Questions
What type of property is this?
Commercial kitchen - Vacant commercial kitchen facility formerly serving as a catering hub for food preparation, takeout, and delivery operations.
Where is this commercial kitchen located?
The property is located at 532 W 46th St New York, NY.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Vacant commercial kitchen facility formerly used by a national catering company; Food preparation, takeout, and delivery operations throughout Manhattan; 10,500 SF facility for food‑service kitchen workflow
