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    7 Chatham Sq New York, NY 10038

    Sponsored
    For Sale
    $460,000

    Prime NYC Office/Retail Space, High Rental Income

    Property size:
    600 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 600-square-foot commercial condo, located at 7 Chatham Square C5 in New York City's vibrant Chinatown (zip code 10038), presents a lucrative investment opportunity. Situated within a larger eight-story building, this single-unit property boasts a spacious layout with 11-15 foot ceilings, ideal for a variety of uses. Currently generating approximately $3,000 in monthly rental income, the potential for increased revenue exists through separate leasing of the space. Further income streams are derived from mailbox rentals, encompassing 120 small ($50 annual fee), 32 medium ($75 annual fee), and 4 large ($100 annual fee) boxes. The property's 7,750-square-foot lot provides ample space, and its central Chinatown location offers high visibility and foot traffic, making it suitable for both professional office use and retail operations. This turnkey investment is perfect for entrepreneurs seeking a profitable venture in a thriving New York City neighborhood. The asking price for this remarkable property is $460,000. This is a package deal that includes units C6 and C7, totaling 600 square feet of commercial condo space.

    Property Features for 7 Chatham Sq

    General Information

    Property type
    Retail properties
    Square Feet
    600 SF

    Building Details

    Stories
    8
    Units
    1

    HighLights

    • $460,000 asking price.
    • 600 square foot office/retail condo.
    • Located at 7 Chatham Square C5, New York, NY 10038.
    • One unit in an eight‑story building.
    • 7,750 square foot lot.
    • 11‑15 foot ceiling height.
    Property Profile Location Intelligence

    Current Use by Public Records

    Tin Sun Metaphysics ... Alternative Medicine Practitioner Ivan Lee, DDS Dentist Christina Tsim Dpm Podiatrist Aung Zaw MD Internist Barry C Schneps ... Attorney

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York (Manhattan)
    State
    New York
    Longitude
    -73.998209
    Latitude
    40.713929

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    FAQs

    What type of property is this?
    Retail property - Prime NYC Office/Retail Space, High Rental Income
    Where is this retail property located?
    The property is located at 7 Chatham Sq New York, NY.
    What is the asking price?
    The asking price for this property is $460,000.
    What are key features of this property?
    This property features: $460,000 asking price.; 600 square foot office/retail condo.; Located at 7 Chatham Square C5, New York, NY 10038.
    Request Owner's contact information
    7 Chatham Sq New York, NY 10038
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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
    7 Chatham Sq New York, NY 10038
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