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    Property profile & analytics

    587 3Rd Ave New York, NY 10016

    • Warehouses
    • 2,087 SF
    OFF-MARKET
    Value Estimation
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 587 3Rd Ave

    Property size
    2,087 SF
    Property type
    Warehouses
    Property subtype
    Retail properties

    Description

    This exceptional commercial property at 587 3rd Avenue in New York City, NY 10016 offers a rare opportunity to lease warehouse space in a vibrant Midtown location. The building, totaling 2,087 square feet, is currently fully vacant and available for immediate occupancy. The property is classified as both retail and industrial, making it suitable for a variety of uses. Multiple tenancy options are available, with individual units ranging from a minimum of 830 square feet to a maximum contiguous space of 1,257 square feet. The warehouse boasts a generous ceiling height of 16 feet, providing ample vertical space for storage or high-volume operations. With a 20-foot frontage, the property offers excellent street visibility and accessibility. Located in New York County, this property benefits from the energy and convenience of a central Manhattan address. The property is ideal for businesses seeking flexible space options in a prime, high-traffic area. Contact us today to schedule a viewing and explore the possibilities this unique warehouse space offers.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9759
    Latitude
    40.7484

    Comparable in this City

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      31-33 28th Stsu-15

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      25 SF

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    • Value Estimation by Request
      21 SF

      31-33 28th Stsu-5

      WAREHOUSE, STORAGE • 21 SF
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      View Details
    • Value Estimation
      $3,015,000
      30 SF

      31-33 28th Stsu-10

      WAREHOUSE, STORAGE • 30 SF
      31-33 28th Stsu-10, New York, NY 10016
      View Details

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    587 3Rd Ave
    New York, NY 10016
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    Realmo Value Estimation

    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.

    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.

    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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