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    14Th St New York, NY 10003

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    For Lease
    Contact for pricing

    7,600 SF Vacant Office/Retail

    Lot size:
    7,600 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    408
    This exceptional 7,600-square-foot commercial space, located in the vibrant Union Square neighborhood of New York City on East 14th Street near Broadway, presents a unique opportunity for a single tenant. The property boasts a desirable ground and second-floor layout, offering excellent street frontage and high visibility. The space is currently entirely vacant, providing immediate occupancy for a new business. With impressive 15-foot ceilings, the interior offers ample flexibility for various retail or office configurations. The building is classified as Class B and is situated in New York County. The total building square footage is 7,600 square feet, all of which is currently available for lease. The flexible space allows for customization to suit a wide range of business needs. This prime location in Union Square offers unparalleled access to a dense population, high foot traffic, and excellent public transportation. The property's prominent street presence and expansive layout make it an ideal location for a business seeking to establish a strong presence in a thriving commercial district. The high ceilings contribute to a spacious and modern feel, enhancing the overall appeal of the property. This is a rare opportunity to secure a significant retail or office space in one of Manhattan's most sought-after locations. Don't miss out on this chance to establish your business in this dynamic and convenient area.

    Property Features for 0 14Th St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    7,600 SF
    Class
    B

    Unit(s) available at that property

    Space
    Ground, 2nd Fl
    Size
    7,600 SF

    We can help!

    Listing Contact
    Michael Gershuni
    Michael Gershuni

    Learn more

    HighLights

    • 7,600 SF retail and office space available for lease in New York County.
    • Single‑tenant occupancy.
    • Located on E 14th Street near Broadway in Union Square.
    • Ground and second floor space available.
    • Features 15‑foot ceilings and good street frontage.
    • Class B building.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9871815
    Latitude
    40.7332926

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    FAQs

    What type of property is this?
    Office Property Space - 7,600 SF Vacant Office/Retail
    Where is this office property space located?
    The property is located at 14Th St New York, NY.
    What are key features of this property?
    This property features: 7,600 SF retail and office space available for lease in New York County.; Single-tenant occupancy.; Located on E 14th Street near Broadway in Union Square.
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    14Th St New York, NY 10003
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    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
    14Th St New York, NY 10003
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    We can help!
    Listing Contact
    Michael Gershuni
    Michael Gershuni
    Real Estate License ID: NY
    Learn more
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