Built-Out Restaurant with
For Sale
Contact for pricing
973 Columbus Ave, New York, NY 10025
Electric cooking infrastructure, included FF&E, and outdoor-area access support continued food-service operations.
Property Size550 SF
Price / SF$227.27
Days on Market188
Property Features for 973 Columbus Ave
General Information
Standard status
Active
Size
550 SF
Property subtype
Business for Sale, Retail
Building Details
Year Renovated
2025
Listing Agency:
The Agency NYC Real Estate
Listed By:
Evan Franca · License #10401394183
Source:
Crexi
Added: Feb 24
Changed: Aug 31
Last Checked: Aug 31 at 1:35AM
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 The Agency NYC Real Estate
Investment Insights
Based on property information with market context.
This conventional restaurant is a fully built-out food-service space with an electric kitchen, Type 2 venting, induction cooking equipment, refrigeration, and a convection oven. Furniture, fixtures, and equipment are included, while the basement adds substantial storage and operational space. Direct basement access leads to a backyard outdoor area that can support private events or special gatherings.
The property is located on the Upper West Side in Manhattan’s residential and retail corridor. Its electric configuration is suited to non-grease cooking concepts, including takeaway, bakery, café, juice bar, and specialty food operations. The lease has 9+ years remaining, and the space is configured for an operator seeking an established restaurant layout with existing equipment and support areas.
The property is located on the Upper West Side in Manhattan’s residential and retail corridor. Its electric configuration is suited to non-grease cooking concepts, including takeaway, bakery, café, juice bar, and specialty food operations. The lease has 9+ years remaining, and the space is configured for an operator seeking an established restaurant layout with existing equipment and support areas.
Key Highlights
- Fully built‑out conventional restaurant with included furniture, fixtures, and equipment
- Electric kitchen with Type 2 venting, induction cooking, refrigeration, and convection oven
- Large basement provides substantial storage and direct access to a backyard outdoor area
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
$5,616
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
4.49%
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%
$112,320
$112.3K
Cap Rate 7%
$80,229
$80.2K
Cap Rate 9%
$62,400
$62.4K
Market Conditions
NOI Build-Up for 550 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
$8.6K $15.60/SF
− Vacancy
−$558 −$1.01/SF
EGI
$8.0K $14.59/SF
− OpEx
−$2.4K −$4.38/SF
NOI
$5.6K $10.21/SF
Area
ZIP 10025
Vacancy
6.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
30.00%
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%
$112,320
Cap Rate 7%
$80,229
Cap Rate 9%
$62,400
Alternative Uses
Best Use
Specialty Retail
$2.17M
$1.90M – $2.53M
NOI $152,064 @ 7.0% cap · market cap 121.65%
Second Best
Industrial
$80.2K
$70.2K – $93.6K
NOI $5,616 @ 7.0% cap · market cap 4.49%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,614
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10025, NY
95,424
Population
47,649
Households
2
Avg Household Size
41
Median Age
69%
College-Educated
92%
High-School Grad
0.9 sq mi
ZIP Area
106,027
Density / Sq Mi
$109,195
Median Household Income
$64,827
Median Earnings
$2,009
Median Rent
$1,125,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Electric cooking infrastructure, included FF&E, and outdoor-area access support continued food-service operations.
Where is this conventional restaurant located?
The property is located at 973 Columbus Ave New York, NY.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: Fully built‑out conventional restaurant with included furniture, fixtures, and equipment; Electric kitchen with Type 2 venting, induction cooking, refrigeration, and convection oven; Large basement provides substantial storage and direct access to a backyard outdoor area
