Iconic Mixed-Use Corner
For Sale
Contact for pricing
119 Mott St, New York, NY 10013
Mixed-use building with restaurant and residential units in Little Italy.
Property Size11,500 SF
Price / SF$765.22
Days on Market837
Property Features for 119 Mott St
General Information
Standard status
Active
Size
11,500 SF
Class
A
Property subtype
Mixed Use, Multifamily
Occupancy
100%
Lease Type
Net
Investment Type
Value Add
Building Details
Year Built
1938
Year Renovated
1988
Buildings
2
Stories
5
Units
12
Tenancy
Multi
Listing Agency:
Downtown Mgt. & Realty LLC
Listed By:
RAY BART · License #ny 10491207828
Source:
Crexi
Added: May 10, 2024
Changed: Aug 24
Last Checked: Aug 24 at 7:01AM
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 Downtown Mgt. & Realty LLC
Investment Insights
Based on property information with market context.
This mixed-use corner building, located in the Little Italy Chinatown area, features a ground floor restaurant with a full basement. The restaurant is currently operating with a 4 AM liquor license. The building offers approximately 11,500 square feet of space. The residential component consists of 50% free market units, 20% rent-controlled units, and 30% rent-stabilized units. The property is suitable for a restaurant operator or bar, offering high visibility. There is over 5,000 square feet of air rights available.
Key Highlights
- High‑visibility corner location in Little Italy/Chinatown.
- Existing 4AM liquor license.
- Currently operating restaurant with full basement.
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
$366,563
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
4.17%
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%
$7,331,260
$7.3M
Cap Rate 7%
$5,236,614
$5.2M
Cap Rate 9%
$4,072,922
$4.1M
Market Conditions
NOI Build-Up for 11,500 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
$690.0K $60.00/SF
− Vacancy
−$103.5K −$9.00/SF
EGI
$586.5K $51.00/SF
− OpEx
−$219.9K −$19.13/SF
NOI
$366.6K $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%
$7,331,260
Cap Rate 7%
$5,236,614
Cap Rate 9%
$4,072,922
Alternative Uses
Best Use
Specialty Retail
$28.63M
$25.05M – $33.40M
NOI $2,003,760 @ 7.0% cap · market cap 22.77%
Second Best
Mixed Use
$5.24M
$4.58M – $6.11M
NOI $366,563 @ 7.0% cap · market cap 4.17%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
30,870
Businesses Nearby
16k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 94%
Dining 6%
Citibank
Shops & Services
15,431 visits/mo
0.5 miles
Domino's Pizza
Dining
1,000 visits/mo
0.4 miles
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building with restaurant and residential units in Little Italy.
Where is this mixed-use property located?
The property is located at 119 Mott St New York, NY.
What is the asking price?
The asking price for this property is $8,800,000.
What are key features of this property?
This property features: High‑visibility corner location in Little Italy/Chinatown.; Existing 4AM liquor license.; Currently operating restaurant with full basement.
