Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    885 Park Ave Apartment New York, NY 10075

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    885 Park Ave Apartment New York, NY 10075

    View on Map
    • Office properties & Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 885 Park Ave Apartment

    Property type
    Office properties & Spaces
    Property subtype
    Medical Office Space

    Description

    This exceptional 725,000 USD executive or medical office suite, located at 885 Park Avenue, Apartment #1A, New York, NY 10075, presents a unique opportunity in a prestigious full-service building. Situated on the ground floor with a convenient lobby entrance, this pre-war space boasts a spacious layout ideal for various medical or executive uses. The suite features a welcoming waiting room and reception area, two consultation rooms (one lead-lined), and two exam rooms, providing ample space for patient interaction or client meetings. Three restrooms ensure convenience, while abundant file storage and two Park Avenue-facing windows enhance the professional atmosphere. The building offers elevator access and allows pets. This prime Upper East Side location provides easy access to major hospitals and public transportation. Note that a 3% flip tax applies to this sale. The suite includes four rooms, two full bathrooms, and one half bathroom. This is a truly remarkable opportunity to establish a thriving practice or executive office in one of Manhattan's most desirable addresses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9605
    Latitude
    40.775

    Comparable in this City

    • Value Estimation by Request

      77Th St

      Medical Office Space
      0 77Th St, New York, NY 10075
      View Details
    • Value Estimation by Request
      725 SF

      910 Park Ave

      Medical Office Space • 725 SF
      910 Park Ave, New York, NY 10075
      View Details
    • Value Estimation by Request

      333 79Th St

      Medical Office Space
      333 79Th St, New York, NY 10075
      View Details
    • Value Estimation by Request
      1,300 SF

      23 79Th St

      Medical Office Space • 1,300 SF
      23 79Th St, New York, NY 10075
      View Details
    • Value Estimation by Request
      38,106 SF

      430 80th St

      MEDICAL CLINIC • 38,106 SF
      430 80th St, New York, NY 10075-1048
      View Details
    • Value Estimation by Request
      16,625 SF

      974 5th Ave

      OFFICE (GENERAL) • 16,625 SF
      974 5th Ave, New York, NY 10075
      View Details

    Similar Nearby for Sale

    • $3,450,000
      3,573 SF

      Modern Medical Suite on Park Avenue

      Fully-equipped, adaptable medical space on the Upper East Side.
      911 Park Avenue, New York, NY 10075
      View Details
    • $499,000
      862 SF

      Upper East Side Medical Office

      Ground floor medical office in pre-war co-op building.
      133 East 80Th St, New York, NY 10075
      View Details
    • $10,750,000
      8,637 SF

      Medical Office Building on 80th

      Newly constructed medical office building in prime Upper East Side.
      168 East 80Th St, New York, NY 10075
      View Details
    • Contact for pricing
      1,500 SF

      Medical Office with Private Entrance

      Medical office featuring exam rooms, consultation room, and private entrance.
      325 E 79Th St, New York, NY 10075
      View Details
    • $750,000
      1,300 SF

      Upper East Side Medical Office

      Medical office in pre-war co-op building on Upper East Side.
      21 E 79Th St, New York, NY 10075
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,637 SF

      Medical Office Building in Manhattan

      Newly constructed medical office building in a prime location.
      168 East 80Th St, New York, NY 10075
      View Details
    • Contact for pricing

      Medical Office Building in Prime Location

      Newly constructed medical office building near major hospitals and cultural institutions.
      168 E 80Th St, New York, NY 10075
      View Details
    • Contact for pricing

      Third Avenue Retail Space Available

      Prime retail space with high pedestrian traffic and cooking ventilation.
      1379 3Rd Ave, New York, NY 10075
      View Details
    • Contact for pricing

      Madison Avenue Office Space

      Fifth floor office space available for rent on Madison Avenue.
      801 Madison Avenue Brg, New York, NY 10075
      View Details
    • Contact for pricing
      4,000 SF

      Madison Avenue Turn-Key Space

      Turn-key gallery, office, retail, and showroom space on Madison Avenue.
      1011 Madison Ave, New York, NY 10075
      View Details
    • Contact for pricing
      19,539 SF

      Prime Office Space Available

      Office space for rent in New York, NY.
      1411 3Rd Ave, New York, NY 10075
      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.
    885 Park Ave Apartment
    New York, NY 10075
    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.
    Sign Up Successful!
    You now have access to more from Realmo!