Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    597 Broadway New York, NY 10012

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $6,380,000

    Retail condo in prime SoHo location available for sale.

    Property size:
    4,500 SF

    Property Features for 597 Broadway

    General Information

    Standard status
    Active
    Size
    4,500 SF

    Building Details

    Year built
    1900

    We can help!

    Listing Contact
    Bryan Ware
    Bryan Ware
    Source: Crexi

    Listing Agency: Corcoran Listing Agent: Bryan Ware

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    SoHo Retail Condo For Sale

    This is a 4,500 square foot retail condo for sale situated on the 2nd floor. The property is located at Broadway and Houston in SoHo. The space features a recently renovated kitchen, conference rooms, private offices, and a bathroom. It also includes a private elevator. Neighbors on the block include Prada, Hugo Boss, and Arc'teryx. The property can be used as loft or office studio.
    Location Intelligence

    Current Use by Public Records

    eBay accounts for sale Business To Business Service The Vintage Twin (Bike/Boat/Book/etc) Store

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Daycare Center

    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
    -74.114764
    Latitude
    40.6263967

    Nearby Similar for Sale

    • $398,888

      Flushing Community Facility Condo

      Prime medical office space near hospitals in Flushing, NY.
      57-35 Lawrence St, Flushing, NY 11355
      View Details
    • $350,000
      1,975 SF

      Established Shanghai Restaurant, Manhattan

      Authentic Shanghai restaurant for sale in Manhattan's Upper West Side.
      467 Columbus Ave, Manhattan, NY 10024
      View Details
    • New
      $4,500,000
      4,875 SF

      West Houston Commercial Building

      Turn-of-the-century commercial space in prime location.
      205 West Houston St, New York, NY 10014
      View Details
    • $945,000
      786 SF

      Flushing Commercial Tower Unit For Sale

      Class A commercial space ideal for professional or medical use.
      37-16 Union St, Flushing, NY 11354
      View Details
    • New
      $580,000
      959 SF

      Flushing Community Facility Unit

      959 sqft Community Facility unit in prime Flushing location.
      14024 31St Dr, Flushing, NY 11354
      View Details
    • $371,000

      Flushing Retail Business For Sale

      Established nail supply business with exclusive wholesale rights.
      5904 Kissena Blvd, Flushing, NY 11355
      View Details
    • $749,000
      1,000 SF

      Retail Property in Jamaica, Queens

      Prime retail space with high visibility in a thriving commercial corridor.
      14703 Guy R Brewer Blvd, Jamaica, NY 11434
      View Details
    • $845,000
      1,600 SF

      Flushing Medical Condo For Sale

      1,600 SF medical condo in Downtown Flushing near transportation.
      133-47 Sanford Ave, Flushing, NY 11355
      View Details
    • $399,000
      1,871 SF

      Community Facility Unit in Flushing

      Income-producing commercial property in a high-demand location.
      31-18 Union St, Flushing, NY 11354
      View Details
    • $1,650,000
      4,620 SF

      Jamaica Commercial Building For Sale

      Four-unit commercial building near JFK and Motor Vehicle Department.
      148-11 175Th St, Jamaica, NY 11434
      View Details
    • $429,000
      437 SF

      Chinatown Office Space Available

      Vacant 437 sq ft office space in Chinatown.
      210 Canal St, New York, NY 10013
      View Details
    • $899,000
      1,318 SF

      Turn-Key Medical Office in Flushing

      Ground floor medical office in prime Downtown Flushing location.
      134-43 Maple Ave, Flushing, NY 11355
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail condo in prime SoHo location available for sale.
    Where is this retail space located?
    The property is located at 597 Broadway New York, NY.
    What is the asking price?
    The asking price for this property is $6,380,000.
    What are key features of this property?
    This property features: - Prime SoHo location (Broadway & Houston); - Approximately 4500SF loft/office studio; - Private elevator
    (917) 698-8545
    Request Owner's contact information
    597 Broadway New York, NY 10012
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    597 Broadway
    New York, NY 10012
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    597 Broadway New York, NY 10012
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Bryan Ware
    Bryan Ware
    Real Estate License ID: 10301213716
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!