Chatham Square Commercial Office
For Sale
$155,000
7 Chatham Sq 7, New York, NY 10038
Prime Chinatown commercial condo for sale or rent.
Property Size154 SF
Lot Size0.18 Acres
Days on Market155
Property Features for 7 Chatham Sq 7
General Information
Standard status
Active
Size
154 SF
Lot size
0.18 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,789
Building Details
Building Size
154 SF
Year Built
1920
Listing Agency:
CPRE Elite Inc
(917) 705-7063
Listed By:
Xiaoyan He
(917) 705-7063
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 8 at 2:24PM
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 CPRE Elite Inc
Investment Insights
Based on property information with market context.
Located in the heart of Chinatown, this commercial condo is situated in Chatham Square, offering a prime commercial office location. The property is available for sale or rent due to the owner's retirement. It is one of three commercial condos for sale in a building that houses both offices and retail units. The property is suitable for use as a professional office or a retail store. The location provides convenient access to subway lines and bus lines. The unit also features air conditioning.
Key Highlights
- Prime commercial office location in the heart of Chinatown
- Suitable for professional office or retail store use
- For sale or rent, offering flexibility to potential buyers
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
$4,822
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
3.11%
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%
$96,440
$96.4K
Cap Rate 7%
$68,886
$68.9K
Cap Rate 9%
$53,578
$53.6K
Market Conditions
NOI Build-Up for 154 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
$7.9K $51.48/SF
− Vacancy
−$1.5K −$9.73/SF
EGI
$6.4K $41.75/SF
− OpEx
−$1.6K −$10.44/SF
NOI
$4.8K $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%
$96,440
Cap Rate 7%
$68,886
Cap Rate 9%
$53,578
Alternative Uses
Best Use
Retail
$309.6K
$270.9K – $361.2K
NOI $21,672 @ 7.0% cap · market cap 13.98%
Second Best
Office B
$68.9K
$60.3K – $80.4K
NOI $4,822 @ 7.0% cap · market cap 3.11%
Theoretical Best
Specialty Retail
$383.3K
$335.4K – $447.2K
NOI $26,833 @ 7.0% cap · market cap 17.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
36,022
Businesses Nearby
Explore this area
Business Placement
Demographics for 10038, NY
25,332
Population
12,624
Households
2
Avg Household Size
33
Median Age
62%
College-Educated
83%
High-School Grad
0.3 sq mi
ZIP Area
84,440
Density / Sq Mi
$115,121
Median Household Income
$87,698
Median Earnings
$3,140
Median Rent
$865,700
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 - Prime Chinatown commercial condo for sale or rent.
Where is this office units located?
The property is located at 7 Chatham Sq 7 New York, NY.
What is the asking price?
The asking price for this property is $155,000.
What are key features of this property?
This property features: Prime commercial office location in the heart of Chinatown; Suitable for professional office or retail store use; For sale or rent, offering flexibility to potential buyers
