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    306 13Th St New York, NY 10014

    For Sale
    $2,360,000

    Prime NYC restaurant space, vacant, high NOI.

    Property size:
    2,478 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional investment opportunity presents a vacant, 2,478-square-foot restaurant space at 306 West 13th Street in New York, NY 10014. Located in the vibrant West Village, bordering the Meatpacking District, this property offers a prime retail location with approximately 22 feet of frontage on West 13th Street. The space features 10'6" ceiling heights and includes both ground floor and basement levels, each approximately 1,239 square feet. The property is situated in a mixed-use cooperative building, benefiting from a strong co-tenancy with a diverse range of high-end retailers, bars, restaurants, and cafes, including notable names such as LaserAway, Marni, Starbucks, Zimmerman, Hermes, Sweetgreen, Theory, and Restoration Hardware. The area boasts high residential density and proximity to newly developed Class A office buildings, ensuring a robust customer base. Convenient access to multiple subway lines (1, 2, 3, A, C, E, and L) further enhances its appeal. This value-add opportunity offers a pro-forma NOI of $173,000 and a pro-forma cap rate of 7.33%, making it an attractive investment for both users and investors seeking to capitalize on this desirable location. All uses are considered. The asking price is $2,360,000. Low annual property expenses contribute to the strong financial performance potential.

    Property Features for 306 13Th St

    General Information

    Property type
    Restaurants
    Square Feet
    2,478 SF

    HighLights

    • Prime Meatpacking District retail space.
    • Low operating expenses.
    • Suitable for a variety of commercial uses.
    • 22 feet of frontage on West 13th Street.
    • 10'6" ceiling height.
    • Convenient access to 1, 2, 3, A, C, E, and L subway lines.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Clothing Store Nail Salon 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
    -74.003608455802
    Latitude
    40.739293415751

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    FAQs

    What type of property is this?
    Restaurant - Prime NYC restaurant space, vacant, high NOI.
    Where is this restaurant located?
    The property is located at 306 13Th St New York, NY.
    What is the asking price?
    The asking price for this property is $2,360,000.
    What are key features of this property?
    This property features: Prime Meatpacking District retail space.; Low operating expenses.; Suitable for a variety of commercial uses.
    Request Owner's contact information
    306 13Th St New York, NY 10014
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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
    306 13Th St New York, NY 10014
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