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    2276 12Th Ave New York, NY 10027
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    Property profile & analytics

    2276 12Th Ave New York, NY 10027

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    • Retail properties & Spaces
    • 5,793 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Columbia Engineering Innovation Hub / University

    Property Details for 2276 12Th Ave

    Property size
    5,793 SF
    Property type
    Retail properties & Spaces

    Description

    This exceptional retail opportunity in West Harlem, Manhattanville, presents two available spaces totaling 5,793 square feet, with a minimum divisible space of 1,000 square feet and a maximum contiguous space of 4,793 square feet. Located at 2276 12th Ave, New York, NY 10027, this property boasts a highly desirable location, situated near the intersection of St. Claire's Place, 12th Avenue, and W 125th Street. The property is zoned M1 and benefits from its proximity to a significant concentration of educational institutions, including Columbia University, City College of New York, Barnard College, and several others. The area has experienced substantial recent investment in commercial, residential, and retail sectors, contributing to a vibrant and high-quality neighborhood. The adjacent Columbia University Manhattanville campus, a large-scale development encompassing teaching, research, housing, and support services, further enhances the area's appeal and potential for growth. This campus includes notable facilities such as the Jerome L. Greene Science Center, the Lenfest Center for the Arts, and the soon-to-open Columbia Business School. The property's high-traffic location is further amplified by the presence of a popular, high-volume restaurant, Dinosaur BBQ, operating adjacent to the site. This presents a unique opportunity for businesses seeking exposure to a dense population of students, faculty, residents, and visitors. The property's size flexibility allows for a range of retail concepts, catering to the diverse needs of the community.

    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
    -73.9609
    Latitude
    40.8178

    Comparable in this City

    • Value Estimation by Request
      2,500 SF

      64 125Th St

      Retail properties & Spaces • 2,500 SF
      64 125Th St, New York, NY 10027
      View Details
    • Value Estimation by Request
      986 SF

      1215 Amsterdam Ave

      Retail properties & Spaces • 986 SF
      1215 Amsterdam Ave, New York, NY 10027
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    • Value Estimation by Request
      19,120 SF

      300 125Th St

      Restaurants • 19,120 SF
      300 125Th St, New York, NY 10027
      View Details
    • Value Estimation by Request
      5,793 SF

      2276 12Th Ave

      Retail properties & Spaces • 5,793 SF
      2276 12Th Ave, New York, NY 10027
      View Details
    • Value Estimation by Request
      3,800 SF

      86 125Th St

      Restaurants • 3,800 SF
      86 125Th St, New York, NY 10027
      View Details
    • Value Estimation by Request
      1,100 SF

      350 Lenox Ave

      Restaurants • 1,100 SF
      350 Lenox Ave, New York, NY 10027
      View Details

    Similar Nearby for Sale

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      34,474 SF

      Mixed-Use Properties on 125th Street

      Two contiguous mixed-use properties with retail and residential units.
      28 W 125Th St, New York, NY 10027
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    Similar Nearby for Lease

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      1,000 SF

      Restaurant Space Near Columbia University

      Restaurant space for rent, formerly Floridita, near Columbia University.
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      Restaurant and Bar Space Available

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      218 Malcolm X Blvd, New York, NY 10027
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      West 125th Street Retail Space

      Retail and restaurant spaces available for lease on West 125th.
      712-726 West 125Th St, New York, NY 10027
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    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease in New York, NY.
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    New York, NY 10027
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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
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