High-Ceiling Salon
For Sale
$4,400,000
91 Franklin Street RETAIL, New York City, NY 10013
Flexible salon space with high ceilings, lower-level storage, and a month-to-month tenant in Tribeca.
Property Size2,200 SF
Price / SF$2,000
Days on Market66
Property Features for 91 Franklin Street RETAIL
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Apartment
Amenities
Blade Sign
Full bathroom with shower
Building Details
Building Size
2,200 SF
Year Built
1920
Listing Agency:
Compass
(917) 664-1452
Listed By:
David Graff
(917) 664-1452
Source:
Nilelundgren
Added: May 27
Changed: Jul 31
Last Checked: Jul 31 at 6:03AM
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 Compass
Investment Insights
Based on property information with market context.
This spa & wellness property offers a flexible layout currently operating as a salon with a month-to-month tenant. The space features 12 1/2 foot ceilings and includes a full bathroom with shower in the lower level, supported by 2200 SF of lower level storage. A 4 foot tall blade sign is also in place, providing building-mounted visibility for the tenant’s storefront presence.
Located at 91 Franklin Street in Tribeca, New York City, the setting supports neighborhood retail and service activity, with restaurants and shopping nearby.
Built in 1920, the property can be adapted for alternative uses that align with the existing flexible configuration, including retail and gallery-style concepts that benefit from storage and lower-level support space.
Located at 91 Franklin Street in Tribeca, New York City, the setting supports neighborhood retail and service activity, with restaurants and shopping nearby.
Built in 1920, the property can be adapted for alternative uses that align with the existing flexible configuration, including retail and gallery-style concepts that benefit from storage and lower-level support space.
Key Highlights
- 12 1/2 foot ceilings
- 4 foot tall blade sign
- 2200 SF of lower level storage
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $518.5k | $235.68 |
| − Vacancy | −$76.2k | −$34.64 |
| EGI | $442.3k | $201.04 |
| − OpEx | −$132.7k | −$60.31 |
| NOI | $309.6k | $140.72 |
2,200 SF · lease $235.68/SF/yr · vacancy 14.70% · expense 30.00%
Alternative Uses
Best Use
Retail
$4.42M
$3.87M – $5.16M
NOI $309,594 @ 7.0% cap · market cap 7.04%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.48M
$4.79M – $6.39M
NOI $383,328 @ 7.0% cap · market cap 8.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
34,910
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10013, NY
31,042
Population
15,933
Households
1.9
Avg Household Size
36
Median Age
72%
College-Educated
89%
High-School Grad
0.5 sq mi
ZIP Area
62,084
Density / Sq Mi
$159,474
Median Household Income
$92,765
Median Earnings
$2,378
Median Rent
$2,000,001
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Spa & wellness property - Flexible salon space with high ceilings, lower-level storage, and a month-to-month tenant in Tribeca.
Where is this spa & wellness property located?
The property is located at 91 Franklin Street RETAIL New York City, NY.
What is the asking price?
The asking price for this property is $4,400,000.
What are key features of this property?
This property features: 12 1/2 foot ceilings; 4 foot tall blade sign; 2200 SF of lower level storage
