Ground-Floor Retail
60 Reade St, New York, NY 10007
For Sale
New
Contact for pricing
A single occupant uses the space for medical and wellness services under a lease running through August 2039.
Property Size7,203 SF
Price / SF$693.46
Days on Market4
Property Features for 60 Reade St
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Neighborhood
Additional Details
Floor
Tenant in Place
Property Use
Building Details
Tenancy
Listing Agency:
JA Cohen Advisory Group
(718) 971-1675
Listed By:
Jack A Cohen · License NY #10491209522
(917) 533-8905
Source:
Moodyscre
Added: Nov 10
Changed: Nov 12
Last Checked: Nov 12 at 2:46PM
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 JA Cohen Advisory Group
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Investment Insights
Based on property information with market context.
This 7,203-square-foot retail condominium includes ground-floor space, a cellar, and a sub-cellar. It is fully occupied by one medical and wellness tenant, with a lease extending through August 2039. The tenant reimburses 100% of real estate taxes and common charges.
The property is at 60 Reade Street, between Church Street and West Broadway in Tribeca.
The property is at 60 Reade Street, between Church Street and West Broadway in Tribeca.
Key Highlights
- 7,203 SF ground‑floor retail condominium with cellar and sub‑cellar
- Fully occupied by a single medical and wellness tenant
- Lease term runs through August 2039
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$225,545
Cap Rate
4.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,510,900
$4.5M
Cap Rate 7%
$3,222,071
$3.2M
Cap Rate 9%
$2,506,056
$2.5M
Market Conditions
NOI Build-Up for 7,203 SF
Gross rent
$370.8K $51.48/SF
− Vacancy
−$70.1K −$9.73/SF
EGI
$300.7K $41.75/SF
− OpEx
−$75.2K −$10.44/SF
NOI
$225.5K $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%
$4,510,900
Cap Rate 7%
$3,222,071
Cap Rate 9%
$2,506,056
Alternative Uses
Best Use
Office B
$3.22M
$2.82M – $3.76M
NOI $225,545 @ 7.0% cap · market cap 4.52%
Second Best
Healthcare Medical
$3.07M
$2.68M – $3.58M
NOI $214,707 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$5.04M
$4.41M – $5.88M
NOI $352,504 @ 7.0% cap · market cap 7.06%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
38,250
Businesses Nearby
Explore this area
Business Placement
Demographics for 10007, NY
8,421
Population
3,711
Households
2.3
Avg Household Size
35
Median Age
86%
College-Educated
98%
High-School Grad
0.2 sq mi
ZIP Area
42,105
Density / Sq Mi
$250,001
Median Household Income
$150,470
Median Earnings
$3,501
Median Rent
$2,000,001
Median Home Value
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Market
Properties on Market for Retail space in New York
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - A single occupant uses the space for medical and wellness services under a lease running through August 2039.
Where is this retail space located?
The property is located at 60 Reade St New York, NY.
What is the asking price?
The asking price for this property is $4,995,000.
What are key features of this property?
This property features: 7,203 SF ground‑floor retail condominium with cellar and sub‑cellar; Fully occupied by a single medical and wellness tenant; Lease term runs through August 2039
