Five-Story Mixed-Use
For Sale
Contact for pricing
691 10th Avenue, New York, NY 10036
Walkup property combining occupied apartments with ground-floor retail space and recent building-system upgrades.
Property Size9,725 SF
Price / SF$462.72
Days on Market52
Property Features for 691 10th Avenue
General Information
Standard status
Active
Size
9,725 SF
Property subtype
Multifamily, Mixed Use
Zoning
R8, C2-5, L
Occupancy
100%
Additional Details
Average Monthly Rent
$1,737
Multifamily Units
18
Building Details
Year Built
1910
Buildings
1
Stories
5
Units
20
Construction
walkup
Tenancy
Multi
Listing Agency:
CBRE - New York
Listed By:
Nick Kontos · License #NY10401291353
Source:
Crexi
Added: Aug 27
Changed: Oct 2
Last Checked: Oct 16 at 6:09AM
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 CBRE - New York
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Investment Insights
Based on property information with market context.
This five-story walkup contains approximately 9,725 gross square feet and 20 total units, including 18 residential apartments and two ground-floor retail spaces. The residential portion is 100% occupied, with a unit mix of 17% free-market apartments and 83% rent-stabilized apartments. Retail space totals approximately 950 square feet and is occupied by a pizzeria and a coffee operator. Both retail leases include scheduled rent increases.
Capital work completed over the past four years includes extensive façade improvements, roof renovation, full sidewalk reconstruction, replacement of gas piping, and replacement of electric risers. The property was built in 1910 and is identified with R8, C2-5, and L zoning. Located at 691 10th Avenue in Manhattan’s Hell’s Kitchen submarket, the building is near Midtown employment hubs and along Tenth Avenue.
Capital work completed over the past four years includes extensive façade improvements, roof renovation, full sidewalk reconstruction, replacement of gas piping, and replacement of electric risers. The property was built in 1910 and is identified with R8, C2-5, and L zoning. Located at 691 10th Avenue in Manhattan’s Hell’s Kitchen submarket, the building is near Midtown employment hubs and along Tenth Avenue.
Key Highlights
- Approximately 9,725 gross square feet across a five‑story walkup building
- 20 total units: 18 residential apartments and 2 ground‑floor retail spaces
- Residential component is 100% occupied with an 83% rent‑stabilized and 17% free‑market mix
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$309,984
Cap Rate
6.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,199,680
$6.2M
Cap Rate 7%
$4,428,343
$4.4M
Cap Rate 9%
$3,444,267
$3.4M
Market Conditions
NOI Build-Up for 9,725 SF
Gross rent
$583.5K $60.00/SF
− Vacancy
−$87.5K −$9.00/SF
EGI
$496.0K $51.00/SF
− OpEx
−$186.0K −$19.13/SF
NOI
$310.0K $31.88/SF
Area
New York, NY
Vacancy
15.00%
Lease Rate
$60.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,199,680
Cap Rate 7%
$4,428,343
Cap Rate 9%
$3,444,267
Alternative Uses
Best Use
Retail
$19.55M
$17.11M – $22.81M
NOI $1,368,546 @ 7.0% cap · market cap 30.41%
Second Best
Mixed Use
$4.43M
$3.87M – $5.17M
NOI $309,984 @ 7.0% cap · market cap 6.89%
Theoretical Best
Specialty Retail
$24.21M
$21.18M – $28.24M
NOI $1,694,484 @ 7.0% cap · market cap 37.66%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
18
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
28,628
Businesses Nearby
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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 Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Walkup property combining occupied apartments with ground-floor retail space and recent building-system upgrades.
Where is this mixed-use property located?
The property is located at 691 10th Avenue New York, NY.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Approximately 9,725 gross square feet across a five‑story walkup building; 20 total units: 18 residential apartments and 2 ground‑floor retail spaces; Residential component is 100% occupied with an 83% rent‑stabilized and 17% free‑market mix
