Commercial Land Development
For Sale
Contact for pricing
793 Broadway, New York, NY 10003
Development parameters outline residential, commercial, and community facility use scenarios.
Property Size12,498 SF
Price / SF$424.07
Days on Market324
Property Features for 793 Broadway
General Information
Standard status
Active
Size
12,498 SF
Property subtype
RETAIL
Listing Agency:
Ariel Property Advisors
(212) 544-9500
Listed By:
Michael A. Tortorici · License #401085153
(212) 544-9500
Source:
Moodyscre
Added: Oct 13, 2025
Changed: Aug 29
Last Checked: Aug 30 at 11:49PM
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 Ariel Property Advisors
Investment Insights
Based on property information with market context.
This 12,498-square-foot commercial land parcel at 793 Broadway presents multiple development frameworks. Residential use is described at 3.44 FAR with up to 7,166 ZFA under the Universal Affordability Preference, or 5.01 FAR with up to 10,436 ZFA. Commercial use allows 6.0 FAR and up to 12,498 ZFA, while community facility use allows 6.5 FAR and up to 13,539 ZFA.
The property is located in New York, NY 10003, with development capacity varying by the selected use category and applicable framework.
The property is located in New York, NY 10003, with development capacity varying by the selected use category and applicable framework.
Key Highlights
- 12,498‑square‑foot commercial land parcel at 793 Broadway, New York, NY 10003
- Commercial use allows 6.0 FAR and up to 12,498 ZFA
- Community facility use allows 6.5 FAR and up to 13,539 ZFA
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
$398,374
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
7.52%
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%
$7,967,480
$8.0M
Cap Rate 7%
$5,691,057
$5.7M
Cap Rate 9%
$4,426,378
$4.4M
Market Conditions
NOI Build-Up for 12,498 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
$749.9K $60.00/SF
− Vacancy
−$112.5K −$9.00/SF
EGI
$637.4K $51.00/SF
− OpEx
−$239.0K −$19.13/SF
NOI
$398.4K $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%
$7,967,480
Cap Rate 7%
$5,691,057
Cap Rate 9%
$4,426,378
Alternative Uses
Best Use
Mixed Use
$5.69M
$4.98M – $6.64M
NOI $398,374 @ 7.0% cap · market cap 7.52%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$31.11M
$27.22M – $36.29M
NOI $2,177,652 @ 7.0% cap · market cap 41.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
35,753
Businesses Nearby
Explore this area
Business Placement
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Development parameters outline residential, commercial, and community facility use scenarios.
Where is this commercial land located?
The property is located at 793 Broadway New York, NY.
What is the asking price?
The asking price for this property is $5,300,000.
What are key features of this property?
This property features: 12,498‑square‑foot commercial land parcel at 793 Broadway, New York, NY 10003; Commercial use allows 6.0 FAR and up to 12,498 ZFA; Community facility use allows 6.5 FAR and up to 13,539 ZFA
