Corner Retail
For Sale
Contact for pricing
71 4th Ave, New York, NY 10003
Two fully leased commercial units with long-term tenancy and prominent corner exposure.
Property Size2,950 SF
Price / SF$2,135
Days on Market12
Property Features for 71 4th Ave
General Information
Standard status
Active
Size
2,950 SF
Property subtype
Retail
Zoning
C6-2A
Occupancy
100%
Financials
Asking Price
$6,300,000
Gross Income
$472,800
Site & Location
Frontage
165 ft
Corner Location
Yes
Building Details
Year Built
2019
Tenancy
Multi
Listing Agency:
Meridian Capital Group
Listed By:
David Schechtman · License #10301211874
(212) 468-5907
Source:
Crexi
Added: Sep 5
Changed: Sep 11
Last Checked: Sep 15 at 6:28AM
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 Meridian Capital Group
Investment Insights
Based on property information with market context.
This 2,950-square-foot retail condominium contains two fully leased commercial units in a 2019-built property. The wraparound corner configuration provides 165 feet of frontage along 4th Avenue and East 10th Street. Current occupants are Dumpling XI (Fusion Byte Express) and Sundays Studio, with leases that include 3% annual rent escalations and a 9.91-year weighted average lease term.
The property is located in Manhattan’s Central Village, near NYU’s primary campus, Washington Square Park, and Union Square. Subway access includes the 4, 6, N, Q, R, and W lines. The property is zoned C6-2A and positioned within a pedestrian-oriented commercial corridor serving students, professionals, residents, and visitors.
The property is located in Manhattan’s Central Village, near NYU’s primary campus, Washington Square Park, and Union Square. Subway access includes the 4, 6, N, Q, R, and W lines. The property is zoned C6-2A and positioned within a pedestrian-oriented commercial corridor serving students, professionals, residents, and visitors.
Key Highlights
- 2,950‑square‑foot retail condominium with two fully leased commercial units
- 2019 construction with a wraparound corner configuration
- 165 feet of frontage along 4th Avenue and East 10th Street
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
$415,137
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
6.59%
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%
$8,302,740
$8.3M
Cap Rate 7%
$5,930,529
$5.9M
Cap Rate 9%
$4,612,633
$4.6M
Market Conditions
NOI Build-Up for 2,950 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
$695.3K $235.68/SF
− Vacancy
−$102.2K −$34.64/SF
EGI
$593.1K $201.04/SF
− OpEx
−$177.9K −$60.31/SF
NOI
$415.1K $140.72/SF
Area
New York, NY
Vacancy
14.70%
Lease Rate
$235.68 /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%
$8,302,740
Cap Rate 7%
$5,930,529
Cap Rate 9%
$4,612,633
Alternative Uses
Best Use
Retail
$5.93M
$5.19M – $6.92M
NOI $415,137 @ 7.0% cap · market cap 6.59%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.34M
$6.43M – $8.57M
NOI $514,008 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
8,650
Businesses Nearby
214k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 48%
Shops & Services 37%
Groceries 6%
Hotels & Casinos 4%
Chick-fil-A
Dining
35,688 visits/mo
0.2 miles
Shell
Shops & Services
22,155 visits/mo
0.2 miles
Shake Shack
Dining
18,217 visits/mo
0.2 miles
TD Bank
Shops & Services
15,811 visits/mo
0.3 miles
Dinosaur Bar-B-Que
Dining
9,469 visits/mo
0.3 miles
Demographics for 10003, NY
57,076
Population
30,730
Households
1.9
Avg Household Size
32
Median Age
82%
College-Educated
96%
High-School Grad
0.6 sq mi
ZIP Area
95,127
Density / Sq Mi
$153,750
Median Household Income
$82,560
Median Earnings
$2,772
Median Rent
$1,137,000
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Two fully leased commercial units with long-term tenancy and prominent corner exposure.
Where is this storefront property located?
The property is located at 71 4th Ave New York, NY.
What is the asking price?
The asking price for this property is $6,300,000.
What are key features of this property?
This property features: 2,950‑square‑foot retail condominium with two fully leased commercial units; 2019 construction with a wraparound corner configuration; 165 feet of frontage along 4th Avenue and East 10th Street
