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    818 10Th Ave New York, NY 10019

    Sponsored
    For Lease
    $98 SF/Yr

    Prime NYC Retail, High Traffic Location

    Lot size:
    12,330 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    406
    This exceptional retail opportunity is located on Tenth Avenue in New York County, offering 12,330 square feet of space in a multi-tenant building. Currently, one unit of 1,250 square feet is available for lease. The property boasts a highly desirable location with significant foot traffic, benefiting from its proximity to a luxury residential building directly across the street and on each corner. Convenience stores such as CVS, Dunkin', and D'Agostino are all within a half block radius, ensuring high visibility and customer accessibility. The space itself includes a substantial 800-square-foot basement area, perfectly suited for storage, preparation, or office use. This basement space also features a walk-in cooler, prep area, office space, and an employee bathroom. The main retail area benefits from large glass French doors that fully open to the street, maximizing natural light and creating an inviting atmosphere. Outdoor space is also available in the form of a sizable garden area, ideal for additional seating or outdoor dining. The property features a newly installed HVAC system, ensuring year-round comfort. A wide range of food and dry uses are permitted, providing flexibility for potential tenants. This is a truly unique opportunity to establish a thriving business in a prime Manhattan location.

    Property Features for 818 10Th Ave

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    12,330 SF
    Total Rate
    101280.67

    Unit(s) available at that property

    Space
    Available Space 1
    Size
    1,250 SF
    Rate per SF
    $98

    We can help!

    Listing Contact
    Chris Salizzoni

    Learn more

    Property Insight Report

    HighLights

    • Retail and restaurant space totaling 12,330 square feet in multiple tenancies.
    • One 1,250 square foot retail space available.
    • High‑traffic Tenth Avenue location.
    • 800 square foot basement space with walk‑in, prep area, office, and employee bathroom.
    • Outdoor garden area.
    • French doors opening to the street.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mi Nidito Mexican ... Mexican Restaurant Mamasita Bar & Grill Mexican Restaurant Sall Restaurant & Lounge Seafood Restaurant Dyna's Handyman Services Handyman

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Hair Salon Dental Office 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
    State
    New York
    Longitude
    -73.989744743344
    Latitude
    40.767419854007

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    FAQs

    What type of property is this?
    Restaurant - Prime NYC Retail, High Traffic Location
    Where is this restaurant located?
    The property is located at 818 10Th Ave New York, NY.
    What is the lease rate?
    The lease rate is $98 SF/Yr.
    What are key features of this property?
    This property features: Retail and restaurant space totaling 12,330 square feet in multiple tenancies.; One 1,250 square foot retail space available.; High-traffic Tenth Avenue location.
    Request Owner's contact information
    818 10Th Ave New York, NY 10019
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    818 10Th Ave New York, NY 10019
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    We can help!
    Listing Contact
    Chris Salizzoni
    Real Estate License ID: NY 10311206024
    Learn more
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