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
    Back to Search
    Property profile & analytics

    120 3rd St New York, NY 10012-1235

    • Retail residential properties
    • 10,845 SF
    • 0.06 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1863801
    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

    • Manhattan Mounting TV AC / Handyman/Handywoman/Handyperson / Contractor
    • Hey Yogurt / Ice Cream Shop / Dessert Shop
    • 319Cleaners / House Cleaning Service / Carpet Cleaning Service
    • LibertyX Bitcoin ATM / Atm
    • Village Psychic / Doctor

    Property Details for 120 3rd St

    Year built
    1900
    Lot size
    0.06 lot acres
    Property size
    10,845 SF
    Zone code
    R7-2
    Property type
    Retail residential properties
    APN
    00543-0019
    APU
    5430019

    Description

    This exceptional 650-square-foot retail space is ideally situated at 120 West 3rd Street in Manhattan's coveted West Village neighborhood. The property boasts a single-tenant occupancy, offering a blank canvas for a discerning business owner. Previously occupied by a boutique and barber shop, this versatile space presents a unique opportunity for a variety of retail concepts. The building's total square footage mirrors the vacant space, ensuring complete control and flexibility for the new tenant. Located in New York County, with a 10012 zip code, this property benefits from high foot traffic and visibility in a vibrant and affluent area. The address, 120 West 3rd Street, places the property within easy reach of numerous residential buildings, popular restaurants, and other retail establishments. The space is ready for immediate occupancy, allowing for a swift and efficient start to operations. Its former uses as a boutique and barber shop suggest adaptability to a range of businesses. This is a rare opportunity to secure a prime retail location in one of Manhattan's most desirable neighborhoods. The property's size makes it perfect for a smaller boutique, salon, or other similar businesses seeking a high-profile location. The vacant status allows for complete customization to suit the specific needs of the new tenant. Don't miss this chance to establish your business in the heart of the West Village.

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -74.0005
    Latitude
    40.7304
    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
    $209,959
    $103,500
    $1,582,200
    $1,685,700
    -
    $230,000
    $3,502,000
    $3,732,000

    Comparable in this City

    • Value Estimation by Request
      13,750 SF

      78 Greene St

      STORES & APARTMENTS • 13,750 SF
      78 Greene St, New York, NY 10012-5100
      View Details
    • Value Estimation by Request
      20,547 SF

      134 Houston St

      STORES & APARTMENTS • 20,547 SF
      134 Houston St, New York, NY 10012-2512
      View Details
    • Value Estimation by Request
      21,463 SF

      86 Kenmare St, Unit 96

      STORES & APARTMENTS • 21,463 SF
      86 Kenmare St, New York, NY 10012-4541
      View Details
    • Value Estimation by Request
      10,392 SF

      50 Macdougal St

      STORES & APARTMENTS • 10,392 SF
      50 Macdougal St, New York, NY 10012-2938
      View Details
    • Value Estimation by Request
      9,155 SF

      99 Macdougal St

      STORES & APARTMENTS • 9,155 SF
      99 Macdougal St, New York, NY 10012-5031
      View Details
    • Value Estimation by Request
      11,500 SF

      119 Mercer St

      STORES & APARTMENTS • 11,500 SF
      119 Mercer St, New York, NY 10012-3878
      View Details

    Similar Nearby for Sale

    • $700,000

      Residential Income Property For Sale

      Residential income property available for purchase in New York.
      64 Macdougal St, New York, NY 10012
      View Details
    • $950,000

      Thompson Street Apartment Building

      Apartment building for sale in New York, NY.
      131 Thompson St, New York, NY 10012
      View Details
    • $18,750,000

      Sullivan Street Multifamily Opportunity

      Multifamily property for sale in New York, NY.
      179 Sullivan St, New York, NY 10012
      View Details
    • $3,099,000

      Wooster Street Specialty Property

      Specialty property available for sale in New York, NY.
      100 Wooster St, New York, NY 10012
      View Details
    • $2,375,000

      Residential Property in New York

      Residential property for sale in New York, priced at $2,375,000.
      99 Spring St, New York, NY 10012
      View Details
    • $3,995,000

      Residential Income Property in New York

      Residential income property for sale in New York, NY.
      684 Broadway 4E, New York, NY 10012
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,383 SF

      SoHo Parking Lot For Lease

      Prime SoHo location, 27 parking spaces.
      81 Mercer St, New York, NY 10012
      View Details
    • $40 SF/Yr
      600 SF

      Prime Soho Retail Space

      600 SF Basement Retail, Flexible Lease
      61 Sullivan St, New York, NY 10012
      View Details
    • $216,000
      650 SF

      Prime Nolita Retail Space

      Elizabeth St. Boutique Retail Opportunity
      237 Elizabeth St, New York, NY 10012
      View Details
    • $51 SF/Yr
      15,000 SF

      SoHo Office Space: Iconic Location

      15,000 SF, Flexible Lease Terms
      69 Mercer St, New York, NY 10012
      View Details
    • $330 /Mo
      400 SF

      Prime Nolita Retail Space

      400 sq ft, Mott St, Immediate Possession
      0 Mott St, New York, NY 10012
      View Details
    • Contact for pricing
      950 SF

      SoHo Retail Space Available

      Retail space in SoHo townhouse, dry use only.
      68 Prince St, New York, NY 10012
      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.
    120 3rd St
    New York, NY 10012-1235
    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.

    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
    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.