Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    1663 1st Ave New York, NY 10028-4767

    • Retail residential properties
    • 6,184 SF
    • 0.04 lot acres
    OFF-MARKET
    Value Estimations
    $435,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3979523
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Outpost: New Pop-ups Every Week / Restaurant / Asian Fusion Restaurant
    • Lashevet Restaurant / Breakfast Restaurant / Coffee Shop
    • Padoca Bakery / Bakery

    Property Details for 1663 1st Ave

    Year built
    1910
    Lot size
    0.04 lot acres
    Property size
    6,184 SF
    Zone code
    C28A
    Property type
    Retail residential properties
    APN
    01549-0029
    APU
    15490029

    Description

    This exceptional 1,000-square-foot restaurant space is available for lease at 1663 1st Avenue in New York City's vibrant New York County. Located in the 10028 zip code, this single-tenant property presents a fantastic opportunity for a discerning restaurateur. The entire building comprises 1,000 square feet, offering a completely vacant space ready for immediate occupancy and customization. The property is classified as retail, specifically designed for restaurant use, ensuring it meets all necessary requirements for food service operations. Its prime location in New York City offers unparalleled access to a dense population and high foot traffic, creating a strong potential customer base. This is an ideal space for a new restaurant concept or an established business seeking to expand its presence in a high-demand area. The property's size is perfectly suited for a variety of restaurant styles, from intimate dining experiences to bustling cafes. Interested parties are encouraged to inquire promptly to secure this exceptional opportunity in one of New York City's most dynamic neighborhoods. The property's address is 1663 1st Avenue, New York, NY 10028. The geographic coordinates are latitude 40.777448 and longitude -73.9492768.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $435,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9493
    Latitude
    40.7774
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $62,996
    $141,438
    $362,447
    $503,885
    -
    $759,000
    $1,945,000
    $2,704,000

    Comparable in this City

    • Value Estimation
      $260,000
      11,650 SF

      1594 York Ave

      STORES & APARTMENTS • 11,650 SF
      1594 York Ave, New York, NY 10028-6204
      View Details
    • Value Estimation
      $400,000
      281,902 SF

      1520 York Ave, Unit 1528

      STORES & APARTMENTS • 281,902 SF
      1520 York Ave, New York, NY 10028-7008
      View Details
    • Value Estimation
      $235,000
      10,110 SF

      227 81st St

      STORES & APARTMENTS • 10,110 SF
      227 81st St, New York, NY 10028-3209
      View Details
    • Value Estimation
      $195,000
      16,640 SF

      507 81st St

      STORES & APARTMENTS • 16,640 SF
      507 81st St, New York, NY 10028-2532
      View Details
    • Value Estimation
      $440,000
      26,400 SF

      42nd E 82nd St

      STORES & APARTMENTS • 26,400 SF
      42nd E 82nd St, New York, NY 10028
      View Details
    • Value Estimation
      $240,000
      9,275 SF

      309 83rd St

      STORES & APARTMENTS • 9,275 SF
      309 83rd St, New York, NY 10028-4368
      View Details

    Similar Nearby for Sale

    • $600,000
      1,000 SF

      Park Avenue Medical Office Building

      Prime Upper East Side Medical Office - $600,000
      969 Park Avenue, New York, NY 10028
      View Details
    • $1,523,805
      1,695 SF

      Prime Upper East Side Medical Office

      1,695 SF Medical Office - $899/SF
      90 End Ave, New York, NY 10028
      View Details
    • Contact for pricing
      38,838 SF

      Upper West Side Opportunity

      Vacant building in coveted Upper West Side location.
      150 W 85Th St, New York, NY 10028
      View Details
    • $2,599,999

      Apartment Building in New York

      Apartment building for sale in New York, NY.
      1001 5Th Ave, New York, NY 10028
      View Details
    • $375,000

      Apartment Building in New York

      Apartment building for sale in New York, NY.
      305 E 83Rd St, New York, NY 10028
      View Details
    • $1,495,000

      Residential Property in New York

      Residential property for sale in New York, NY.
      311 E 83Rd St, New York, NY 10028
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,530 SF

      Lexington Ave Retail Space

      Prime NYC Retail, Multiple Units Available
      1170 Lexington Ave, New York, NY 10028
      View Details
    • $147 SF/Yr
      2,000 SF

      East 86th Street Retail Space

      Prime Yorkville retail space, 2,000 sq ft.
      0 86Th St, New York, NY 10028
      View Details
    • $10,000 /Mo
      780 SF

      Corner Retail Space Available

      780 square foot corner retail space suitable for various uses.
      401 E 81St St, New York, NY 10028
      View Details
    • Contact for pricing
      3,000 SF

      Carnegie Hill Day Care Center

      Day care center in Carnegie Hill, ready for immediate occupancy.
      1190 Park Ave, New York, NY 10028
      View Details
    • $6,000 /Mo
      500 SF

      Prime Retail Space on UWS

      Retail space in affluent area with heavy foot traffic.
      175 W 85Th St, New York, NY 10028
      View Details
    • Contact for pricing
      400 SF

      Prime Retail Space Available

      Retail space with high foot traffic near multiple subway lines.
      244 E 86Th St, New York, NY 10028
      View Details
    Request Owner's contact information
    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.
    1663 1st Ave
    New York, NY 10028-4767
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.