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    137 13Th St New York, NY 10003

    Sponsored
    For Sale
    $2,850,000

    Prime Manhattan restaurant, strong NOI.

    Property size:
    2,664 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Class A, 2,664 square foot retail condominium is located in the highly desirable Union Square neighborhood of Manhattan, at 137 E 13th St, New York, NY 10003. The property, built in 2006 and renovated in 2015, boasts a 100% occupancy rate with a single tenant under a Net Net + (NN+) lease expiring April 1, 2028, providing a remaining lease term of five years. The current monthly rent is $14,205, generating a substantial Net Operating Income (NOI) of $106,390. Features include central air conditioning, high ceilings, and outdoor space, along with a partial basement and backyard. The property sits on a 2,500 square foot lot and is zoned C4. This is a core investment opportunity in a prime location, minutes from NYU and public transportation, making it ideal for a 1031 exchange. The asking price is $2,850,000, representing a price per square foot of $1,069.82. This single-unit condominium offers a stable income stream and significant upside potential in a vibrant Manhattan market.

    Property Features for 137 13Th St

    General Information

    Property type
    Restaurants
    Square Feet
    2,664 SF
    Class
    A

    Building Details

    Year Built/Renovated
    2006/2015
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • Prime 2,649 SF retail condo for sale in Manhattan's Union Square, near NYU and public transit.
    • Features partial basement and backyard.
    • Includes central AC, high ceilings, and outdoor space.
    • Leased to restaurant until 2028, generating $14,205/month in rent.
    Property Profile Location Intelligence

    Current Use by Public Records

    Silky Kitchen Chinese Restaurant

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9882884
    Latitude
    40.7329306

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    FAQs

    What type of property is this?
    Restaurant - Prime Manhattan restaurant, strong NOI.
    Where is this restaurant located?
    The property is located at 137 13Th St New York, NY.
    What is the asking price?
    The asking price for this property is $2,850,000.
    What are key features of this property?
    This property features: Prime 2,649 SF retail condo for sale in Manhattan's Union Square, near NYU and public transit.; Features partial basement and backyard.; Includes central AC, high ceilings, and outdoor space.
    Request Owner's contact information
    137 13Th St New York, NY 10003
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    137 13Th St New York, NY 10003
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