Mixed-Use Building in Prime
5 Eldridge St New York, NY 10002
5 Eldridge St, New York, NY, 10002
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For Sale
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Mixed-use building with commercial and residential units in vibrant neighborhood.
Property Size8,768 SF
Price / SF$912.41
Days on Market1995
Property Features for 5 Eldridge St
General Information
- Standard status
- Active
- Size
- 8,768 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1900
Listing Agency
eXp Realty
(561) 777-5227
Listed by
Ilya Kulichkin · License #NY 10401310377
Source
Crexi
Added: Feb 1, 2021 Checked: Jul 19 at 8:39 am
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 eXp Realty
Investment Insights
Based on property information with market context.
Located between Canal and Division Streets, this mixed-use building spans 8,370 square feet and features 6 commercial and 8 residential units. Constructed around 1900, the 6-story building is situated in an area with heavy foot traffic, close to shops, cafes, hotels, diners, parks, museums, and houses of worship. The roof is currently rented for billboard use, and the partially open side of the building offers additional advertising opportunities. The property has 3,178 square feet of air rights, presenting potential for expansion or development. The location is at the intersection of the Lower East Side, Bowery, Chinatown, and Two Bridges. The building's proximity to the bridge ensures city views and sunsets. It is a few blocks from East Broadway and Grand Street Subway stations. The property can be delivered with some vacant units. The building has attracted commercial tenants such as Beverly's Exhibitions art gallery, Azikiwe Mohammed art studio and gallery, Oso Advisory art gallery, and LESC motorcycle shop.
Key Highlights
- Significant upside potential through renovations and expansion using 3,178 sq ft of air rights.
- Prime location at the intersection of the Lower East Side, Bowery, Chinatown, and Two Bridges.
- Mixed‑use building (6 commercial, 8 residential) with income from roof billboard rental and potential for side advertising.
Local Financial Insights For Mixed Use
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 | $526.1k | $60.00 |
| − Vacancy | −$84.2k | −$9.60 |
| EGI | $441.9k | $50.40 |
| − OpEx | −$165.7k | −$18.90 |
| NOI | $276.2k | $31.50 |
8,768 SF · lease $60.00/SF/yr · vacancy 16.00% · expense 37.50%
Alternative Uses
Best Use
Retail
$17.78M
$15.56M – $20.74M
NOI $1,244,553 @ 7.0% cap · market cap 15.56%
Second Best
Mixed Use
$3.95M
$3.45M – $4.60M
NOI $276,192 @ 7.0% cap · market cap 3.45%
Theoretical Best
Specialty Retail
$21.82M
$19.10M – $25.46M
NOI $1,527,736 @ 7.0% cap · market cap 19.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Contractor Construction NYC
Construction Company
China Employment Agency
Employment Agency
New World Employment ...
Employment Agency
Jobs
Employment Agency
Shing Tao Employment ...
Employment Agency
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FAQs
What type of property is this?
Mixed-use property - Mixed-use building with commercial and residential units in vibrant neighborhood.
Where is this mixed-use property located?
The property is located at 5 Eldridge St New York, NY.
What is the asking price?
The asking price for this property is $8,000,000.
What are key features of this property?
This property features: **Significant upside potential** through renovations and expansion using 3,178 sq ft of air rights.; **Prime location** at the intersection of the Lower East Side, Bowery, Chinatown, and Two Bridges.; Mixed‑use building (6 commercial, 8 residential) with income from roof billboard rental and potential for side advertising.
