Canal Street Condo
For Sale
Contact for pricing
210 Canal St, New York, NY 10013
Prime condo unit in excellent condition, move-in ready.
Property Size603 SF
Price / SF$941.96
Days on Market669
Property Features for 210 Canal St
General Information
Standard status
Active
Size
603 SF
Property subtype
Office, Retail
Building Details
Year Built
1920
Stories
6
Listing Agency:
Corcoran
Listed By:
Sandra Yu · License #NY 10401262495
Source:
Crexi
Added: Oct 10, 2024
Changed: Aug 8
Last Checked: Aug 8 at 11:45AM
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 Corcoran
Investment Insights
Based on property information with market context.
Located at 210 Canal Street, unit 510, this condo unit is situated in an elevator building with on-site property management. The property is located at the crossroads of Chinatown and Little Italy, surrounded by government and commercial buildings, offering convenient access to multiple train lines (N, R, 6, J, Z, B, D, Q, W). Currently operating as a high-end beauty spa, the unit can be delivered vacant. The property is in excellent condition, features a functional layout, and is move-in ready. The 603 square foot space can accommodate various business types, including creative online home offices, projected management firms, architectural firms, medical offices, insurance agencies, accounting firms, and immigration services. This is an opportunity to own business space in a high-traffic and desirable location. The space is also available for lease.
Key Highlights
- Prime location at the crossroads of Chinatown and Little Italy with easy access to multiple train lines (N, R, 6, J, Z, B, D, Q, W).
- Delivered vacant and in excellent, move‑in ready condition with a great layout.
- Suitable for various business types (Creative online home office, Architectural Firm, Medical Office, etc.).
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
$18,882
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
3.32%
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%
$377,640
$377.6K
Cap Rate 7%
$269,743
$269.7K
Cap Rate 9%
$209,800
$209.8K
Market Conditions
NOI Build-Up for 603 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
$31.0K $51.48/SF
− Vacancy
−$5.9K −$9.73/SF
EGI
$25.2K $41.75/SF
− OpEx
−$6.3K −$10.44/SF
NOI
$18.9K $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%
$377,640
Cap Rate 7%
$269,743
Cap Rate 9%
$209,800
Alternative Uses
Best Use
Office B
$269.7K
$236.0K – $314.7K
NOI $18,882 @ 7.0% cap · market cap 3.32%
Second Best
Healthcare Medical
$256.8K
$224.7K – $299.6K
NOI $17,974 @ 7.0% cap · market cap 3.16%
Theoretical Best
Specialty Retail
$1.50M
$1.31M – $1.75M
NOI $105,067 @ 7.0% cap · market cap 18.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
36,609
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10013, NY
31,042
Population
15,933
Households
1.9
Avg Household Size
36
Median Age
72%
College-Educated
89%
High-School Grad
0.5 sq mi
ZIP Area
62,084
Density / Sq Mi
$159,474
Median Household Income
$92,765
Median Earnings
$2,378
Median Rent
$2,000,001
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- CYPA Chung Ying Physical Therapy & Acupuncture — 80 Maiden Ln # 1007, New York, NY 10038
- sujith gmb — 39 Broadway, New York, NY 10006
- Michael Wiltse Acupuncture — 55 Broadway #201, New York, NY 10006
- Advanced Holistic Center — 65 Broadway Suite 902, New York, NY 10006
- Jennifer Gibbons — 61 Broadway #900, New York, NY 100062701
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Prime condo unit in excellent condition, move-in ready.
Where is this spa & wellness property located?
The property is located at 210 Canal St New York, NY.
What is the asking price?
The asking price for this property is $568,000.
What are key features of this property?
This property features: Prime location at the crossroads of Chinatown and Little Italy with easy access to multiple train lines (N, R, 6, J, Z, B, D, Q, W).; Delivered vacant and in excellent, move‑in ready condition with a great layout.; Suitable for various business types (Creative online home office, Architectural Firm, Medical Office, etc.).
