Prime Chinatown Commercial Corner
274 Canal Street New York, NY 10013
274 Canal Street, New York, NY, 10013
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For Sale
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Four-story mixed-use building in prime Chinatown location.
Property Size4,800 SF
Price / SF$2,916
Days on Market826
Property Features for 274 Canal Street
General Information
- Standard status
- Active
- Size
- 4,800 SF
- Property subtype
- Office, Retail
Listing agency
Momentum Real Estate LLC
Listed by
Ray Wu · License #New York
Source
Crexi
Added: Apr 17, 2024 Updated: Jul 6 at 8:18AM Checked: Jul 19 at 7:44AM
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 Momentum Real Estate LLC
Investment Insights
Based on property information with market context.
Located in the Chinatown area, this four-story commercial corner building offers a mixed-use opportunity. The property has an approved plan for 4,878 square feet of commercial space and 1,626 square feet of residential space. It is zoned M1-5 and is being sold in 'As Is' condition. The building's location is a key feature.
Key Highlights
- Prime Chinatown location
- Approved plan for mixed‑use development
- M1‑5 Zoning
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.13M | $235.68 |
| − Vacancy | −$166.3k | −$34.64 |
| EGI | $965.0k | $201.04 |
| − OpEx | −$289.5k | −$60.31 |
| NOI | $675.5k | $140.72 |
4,800 SF · lease $235.68/SF/yr · vacancy 14.70% · expense 30.00%
Alternative Uses
Best Use
Retail
$9.65M
$8.44M – $11.26M
NOI $675,478 @ 7.0% cap · market cap 4.82%
Second Best
Mixed Use
$2.19M
$1.91M – $2.55M
NOI $153,000 @ 7.0% cap · market cap 1.09%
Theoretical Best
Specialty Retail
$11.95M
$10.45M – $13.94M
NOI $836,352 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Mixed-use properties
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Four-story mixed-use building in prime Chinatown location.
Where is this mixed-use property located?
The property is located at 274 Canal Street New York, NY.
What is the asking price?
The asking price for this property is $14,000,000.
What are key features of this property?
This property features: Prime Chinatown location; Approved plan for mixed‑use development; M1‑5 Zoning
