Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    172 106Th St New York, NY 10029
    Back to Search
    Property profile & analytics

    172 106Th St, New York, NY 10029

    View on Map
    • Lifestyle centers
    • 3,650 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • 106 Flower Shop / (Bike/Boat/Book/etc) Store / Florist

    Property Details for 172 106Th St

    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional commercial property at 172 E 106th Street in New York City offers 3,650 square feet of versatile retail and industrial space, currently fully vacant and ready for immediate occupancy. The building is divided into two suites, with a minimum divisible space of 1,500 square feet and a maximum contiguous space of 2,150 square feet, providing flexibility for various business needs. The property's strategic location in New York County, zip code 10029, ensures high visibility and accessibility. The building features attractive ceiling heights, varying between 13 and 10 feet, offering ample space and potential for creative layouts. Ideal for businesses requiring both retail and distribution capabilities, this property presents a unique opportunity to establish a strong presence in a vibrant New York City neighborhood. The multiple tenancy structure allows for potential subleasing or expansion opportunities. This is a rare chance to secure a fully vacant, well-located commercial property in a highly sought-after area of Manhattan. The property's size and layout make it suitable for a variety of uses, from retail showrooms to light industrial operations or a combination thereof. Contact us today to schedule a viewing and explore the possibilities.

    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
    -73.9454
    Latitude
    40.7916

    Comparable in this City

    • Value Estimation by Request
      16,200 SF

      1998 2Nd Ave

      Office Spaces
      1998 2Nd Ave, New York, NY 10029
      View Details
    • Value Estimation by Request
      1,838 SF

      5 111Th St

      Retail properties & Spaces
      5 111Th St, New York, NY 10029
      View Details
    • Value Estimation by Request
      300 SF

      151 103Rd St

      Retail properties & Spaces
      151 103Rd St, New York, NY 10029
      View Details
    • Value Estimation by Request
      1,800 SF

      1865 2Nd Ave

      Individual retail properties
      1865 2Nd Ave, New York, NY 10029
      View Details
    • Value Estimation by Request
      5,000 SF

      1861 Lexington Ave

      Retail properties & Spaces
      1861 Lexington Ave, New York, NY 10029
      View Details
    • Value Estimation by Request
      10,720 SF

      1590 Madison Ave

      Medical Office Space
      1590 Madison Ave, New York, NY 10029
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      Pending

      Harlem Mixed-Use Portfolio Opportunity

      Four mixed-use properties in East Harlem with significant development potential.
      1980 2Nd Ave, New York, NY 10029
      View Details
    • Contact for pricing
      10,716 SF

      1516 Park Ave, New York, NY 10029

      Retail space
      1516 Park Avenue, New York, NY 10029
      View Details
    • $1,800,000

      East Harlem Mixed-Use Building

      Four-story mixed-use building in East Harlem with development potential.
      352 E 116Th St, New York, NY 10029
      View Details
    • Contact for pricing

      East 110th Street Development Site

      60' wide development site near Central Park with retail.
      81-85 E 110Th St, New York, NY 10029
      View Details
    • Contact for pricing
      1,300 SF

      Upper East Side Retail Space

      Prime retail location on the Upper East Side.
      21 E 96Th St, New York, NY 10029
      View Details
    • Contact for pricing
      60,374 SF

      East Harlem Retail Development Opportunity

      60,374 SF retail space near upcoming Q train stop.
      2249 2Nd Ave, New York, NY 10029
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      900 SF

      Turn-Key Restaurant with Vent

      Corner restaurant space with vent and gas available for rent.
      137 E 116Th St, New York, NY 10029
      View Details
    • Contact for pricing

      Upper East Side Mixed-Use Property

      Mixed-use property in Manhattan's Upper East Side with spaces available.
      1590 Madison Ave, New York, NY 10029
      View Details
    • Contact for pricing
      1,500 SF

      Equipped Corner Store with Bakery

      Fully equipped corner store with vented kitchen and gas service.
      1565 Lexington Ave, New York, NY 10029
      View Details
    • Contact for pricing
      700 SF

      Second Generation Cafe Space

      Turn-key cafe space with kitchen equipment and heavy foot traffic.
      155-159 E 103Rd St, New York, NY 10029
      View Details
    • Contact for pricing

      Lexington Avenue Commercial Space

      Commercial space available for lease on Lexington Avenue.
      1677 Lexington Ave, New York, NY 10029
      View Details
    • Contact for pricing
      2,662 SF

      Madison Avenue Retail Space

      Retail space available on Madison Avenue.
      1411 Madison Ave, New York, NY 10029
      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.
    172 106Th St
    New York, NY 10029
    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
    172 106Th St, New York, NY, 10029
    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!