Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    368 3Rd Ave New York, NY 10016
    Back to Search
    Property profile & analytics

    368 3Rd Ave New York, NY 10016

    View on Map
    • Retail properties & Spaces
    • 835,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • VU New York Condominiums / Condominium Complex

    Property Details for 368 3Rd Ave

    Property size
    835,000 SF
    Property type
    Retail properties & Spaces

    Description

    This exceptional retail opportunity in Kips Bay, Manhattan, presents two available spaces within a substantial 835,000 square foot building located at 368 3rd Avenue, New York, NY 10016. The property offers flexible layouts, with a minimum divisible space of 1,240 square feet and a maximum contiguous space of 2,923 square feet, catering to a variety of retail businesses. Currently, there are 4,163 square feet of vacant space available for lease. The building itself houses a total of two suites, providing a unique opportunity for businesses seeking a high-profile location in a vibrant New York City neighborhood. This prime location in New York County offers excellent visibility and accessibility, making it an ideal space for businesses looking to establish or expand their presence in a bustling commercial area. The property's size and layout provide ample space for various retail concepts, from smaller boutiques to larger-scale operations. This is a rare chance to secure a prominent retail space in a highly sought-after Manhattan location. Interested parties should inquire promptly to learn more about lease terms and availability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9815
    Latitude
    40.7412

    Comparable in this City

    • Value Estimation by Request
      3,200 SF

      420 Park Ave

      Retail properties & Spaces • 3,200 SF
      420 Park Ave, New York, NY 10016
      View Details
    • Value Estimation by Request
      6,100 SF

      435 5Th St

      Retail properties & Spaces • 6,100 SF
      435 5Th St, New York, NY 10016
      View Details
    • Value Estimation by Request
      6,118 SF

      441-445 5Th Ave

      Retail properties & Spaces • 6,118 SF
      441-445 5Th Ave, New York, NY 10016
      View Details
    • Value Estimation by Request
      12,678 SF

      411 Park Ave

      Office properties & Spaces • 12,678 SF
      411 Park Ave, New York, NY 10016
      View Details
    • Value Estimation by Request
      2,087 SF

      587 3Rd Ave

      Distribution properties • 2,087 SF
      587 3Rd Ave, New York, NY 10016
      View Details
    • Value Estimation by Request
      2,200 SF

      in 50s 7Th Ave

      Restaurants • 2,200 SF
      in 50s 7Th Ave, New York, NY 10016
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      17,500 SF

      Chelsea Mixed-Use Building for Sale

      Seven-story mixed-use building in Chelsea with retail and office space.
      242 W 27Th St, New York, NY 10016
      View Details
    • Contact for pricing
      7,680 SF

      Retail Property in Prime Location

      Retail property available for sale in New York, NY.
      39 E 31St St, New York, NY 10016
      View Details
    • Contact for pricing
      1,000 SF

      Quick-Serve Franchisor Business Opportunity

      Rapidly expanding national quick-serve franchisor with existing and planned locations.
      Award Winning Rapidly Expanding National Quick-Serve Franchisor Seeks, New York, NY 10016
      View Details
    • $1,800,000
      2,236 SF

      Retail Condominium in Kips Bay

      2,236 SF retail condo in luxury Kips Bay building.
      165 Lexington Ave, New York, NY 10016
      View Details
    • Contact for pricing
      43,320 SF

      Manhattan Mixed-Use Corner Property

      Prime mixed-use property in vibrant Manhattan neighborhood.
      587 1St Ave, New York, NY 10016
      View Details
    • Contact for pricing

      Kips Bay Mixed-Use Investment

      93% deregulated mixed-use property in prime Kips Bay location.
      212 E 29Th St, New York, NY 10016
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space on 3rd Avenue

      Retail space available for rent on 3rd Avenue.
      378 3Rd Ave, New York, NY 10016
      View Details
    • Contact for pricing
      7,049 SF

      Garment District Office/Retail Space

      Renovated office/retail space in the heart of the Garment District.
      247 W 37Th St, New York, NY 10016
      View Details
    • Contact for pricing
      1,400 SF

      Restaurant/Bar Space Near Subway

      Fully-built restaurant/bar space near 33rd Street subway entrance.
      33 E 33Rd St, New York, NY 10016
      View Details
    • $60 SF/Yr
      1,000 SF

      Prime Murray Hill Retail Space

      1,000 SF Retail Store, Immediate Occupancy
      0 Retail Spc On 3 Ave In Murray Hl, New York, NY 10016
      View Details
    • Contact for pricing
      600 SF

      Former QSR Restaurant Space Available

      Move-in ready restaurant space with basement and ADA access.
      97 Lexington Ave, New York, NY 10016
      View Details
    • Contact for pricing
      5,000 SF

      Restaurant Space Near Fifth Avenue

      Restaurant space with existing infrastructure near Fifth Avenue Hotel.
      255 5Th Ave, New York, NY 10016
      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.
    368 3Rd Ave
    New York, NY 10016
    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

    Thank You for Inquiry
    368 3Rd Ave, New York, NY, 10016
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!