Commercial Office Building For
For Sale
Contact for pricing
Pending
28 W 27th St, New York, NY 10001
Commercial office building with 6,000 square feet available for sale.
Property Size6,000 SF
Days on Market683
Property Features for 28 W 27th St
General Information
Standard status
Pending
Size
6,000 SF
Class
C
Property subtype
Office
Investment Type
Owner/User
Listing Agency:
Up Real Estate Advisors
Listed By:
Manny Advani · License #NY 40AD1074398
Source:
Crexi
Added: Sep 28, 2024
Changed: Aug 8
Last Checked: Aug 10 at 1:28PM
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 Up Real Estate Advisors
Investment Insights
Based on property information with market context.
This commercial property, suitable for office use, is available for sale. The building provides 6,000 square feet of space.
Key Highlights
- No property information was provided to extract selling points.
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
$187,876
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
6.33%
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%
$3,757,520
$3.8M
Cap Rate 7%
$2,683,943
$2.7M
Cap Rate 9%
$2,087,511
$2.1M
Market Conditions
NOI Build-Up for 6,000 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
$308.9K $51.48/SF
− Vacancy
−$58.4K −$9.73/SF
EGI
$250.5K $41.75/SF
− OpEx
−$62.6K −$10.44/SF
NOI
$187.9K $31.31/SF
Area
New York, NY
Vacancy
18.90%
Lease Rate
$51.48 /SF/Yr
Expense Ratio
25.00%
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%
$3,757,520
Cap Rate 7%
$2,683,943
Cap Rate 9%
$2,087,511
Alternative Uses
Best Use
Office B
$2.68M
$2.35M – $3.13M
NOI $187,876 @ 7.0% cap · market cap 6.33%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$14.93M
$13.07M – $17.42M
NOI $1,045,440 @ 7.0% cap · market cap 35.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
78,761
Businesses Nearby
Explore this area
Business Placement
Demographics for 10001, NY
32,612
Population
17,554
Households
1.9
Avg Household Size
35
Median Age
72%
College-Educated
93%
High-School Grad
0.6 sq mi
ZIP Area
54,353
Density / Sq Mi
$123,393
Median Household Income
$97,848
Median Earnings
$3,024
Median Rent
$793,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Commercial office building with 6,000 square feet available for sale.
Where is this office building located?
The property is located at 28 W 27th St New York, NY.
What is the asking price?
The asking price for this property is $2,970,000.
What are key features of this property?
This property features: No property information was provided to extract selling points.
