Mixed-Use Buildings with
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718 and 720 10th Ave, New York, NY 10019
Two mixed-use buildings featuring retail spaces and free-market apartments.
Property Size8,810 SF
Price / SF$1,135
Days on Market171
Property Features for 718 and 720 10th Ave
General Information
Standard status
Active
Size
8,810 SF
Property subtype
Mixed Use, Multifamily, Retail
Zoning
Zoned R8, C2-5,
Occupancy
88%
Investment Type
Value Add
Net Operating Income
$322,189
Building Details
Year Built
1931
Year Renovated
1996
Buildings
2
Stories
4
Units
8
Listing Agency:
Marcus & Millichap - Manhattan
Listed By:
Saiid Boukhalfa · License #NY 30BO1115908
Source:
Crexi
Added: Feb 21
Changed: Aug 8
Last Checked: Aug 8 at 6:36AM
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 Marcus & Millichap - Manhattan
Investment Insights
Based on property information with market context.
This offering features two mixed-use, free-market buildings. The properties include two ground-floor retail stores and six free-market, floor-through apartments. Each apartment provides approximately 1000 square feet of living space. The total property size encompasses 8810 square feet.
Key Highlights
- Two mixed‑use buildings
- Six free market apartments offering investment upside
- Two ground floor retail stores
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
$280,819
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
2.81%
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%
$5,616,380
$5.6M
Cap Rate 7%
$4,011,700
$4.0M
Cap Rate 9%
$3,120,211
$3.1M
Market Conditions
NOI Build-Up for 8,810 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
$528.6K $60.00/SF
− Vacancy
−$79.3K −$9.00/SF
EGI
$449.3K $51.00/SF
− OpEx
−$168.5K −$19.13/SF
NOI
$280.8K $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 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%
$5,616,380
Cap Rate 7%
$4,011,700
Cap Rate 9%
$3,120,211
Alternative Uses
Best Use
Retail
$17.71M
$15.50M – $20.66M
NOI $1,239,783 @ 7.0% cap · market cap 12.40%
Second Best
Mixed Use
$4.01M
$3.51M – $4.68M
NOI $280,819 @ 7.0% cap · market cap 2.81%
Theoretical Best
Specialty Retail
$21.93M
$19.19M – $25.58M
NOI $1,535,054 @ 7.0% cap · market cap 15.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
20,242
Businesses Nearby
Explore this area
Business Placement
Demographics for 10019, NY
49,029
Population
33,279
Households
1.5
Avg Household Size
38
Median Age
78%
College-Educated
98%
High-School Grad
0.7 sq mi
ZIP Area
70,041
Density / Sq Mi
$121,835
Median Household Income
$108,231
Median Earnings
$2,619
Median Rent
$1,066,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two mixed-use buildings featuring retail spaces and free-market apartments.
Where is this mixed-use property located?
The property is located at 718 and 720 10th Ave New York, NY.
What is the asking price?
The asking price for this property is $10,000,000.
What are key features of this property?
This property features: Two mixed‑use buildings; Six free market apartments offering investment upside; Two ground floor retail stores
