Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    115 Broadway New York, NY 10006

    • Office Properties & Spaces
    • 5,000 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Genova Burns LLC / Law Firm
    • Mortgage Automation | Dwella / (Bike/Boat/Book/etc) Store / Corporate Office
    • FiDi Therapy / Medical Clinic
    • Rock Shrimp Productions NY, LLC / Film Production / Television Studio
    • Schmidt Sam A / Law Firm

    Property Details for 115 Broadway

    Property size
    5,000 SF
    Property type
    Office Properties & Spaces

    Description

    This exceptional 5,000-square-foot office space at 115 Broadway in New York City's prestigious Grand Central area offers a unique opportunity for businesses seeking a modern and efficient workspace. The property is currently fully vacant and available for immediate occupancy. The space is divisible into two 2,500-square-foot units, providing flexibility for various tenant needs. Each unit boasts a dramatic, open layout with high ceilings, exposed brick, and stunning architectural details. Features include multiple large offices, a dedicated conference room, private bathrooms, stylish exposed spiral ducts, hardwood floors, abundant natural light from numerous windows, and a convenient wet pantry. This "plug and play" space is ready for immediate move-in, minimizing setup time and maximizing productivity. Located in New York County, NY, 10006, this prime location offers unparalleled access to Grand Central Terminal and all the amenities of downtown Manhattan. The asking rate is $39 per square foot. This is an incredible opportunity to secure a state-of-the-art office space in a highly desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -74.0113
    Latitude
    40.7089

    Comparable in this City

    • Value Estimation by Request
      293 SF

      120 Greenwich St, Unit TCU-A

      CONDOMINIUM OFFICES • 293 SF
      120 Greenwich St, New York, NY 10006-1500
      View Details
    • Value Estimation by Request
      310 SF

      120 Greenwich St, Unit TCU-B

      CONDOMINIUM OFFICES • 310 SF
      120 Greenwich St, New York, NY 10006-1500
      View Details
    • Value Estimation by Request
      5,983 SF

      77 Greenwich St

      Restaurants • 5,983 SF
      77 Greenwich St, New York, NY 10006
      View Details
    • Value Estimation by Request
      300 SF

      65 Broardway

      Office Properties & Spaces • 300 SF
      65 Broardway, New York, NY 10006
      View Details
    • Value Estimation
      $2,400,000
      396,607 SF

      115-119 Broadway

      OFFICE BUILDING (MULTI-STORY) • 396,607 SF
      115-119 Broadway, New York, NY 10006
      View Details
    • Value Estimation
      $2,665,000
      368,315 SF

      45 Broadway

      OFFICE BUILDING (MULTI-STORY) • 368,315 SF
      45 Broadway, New York, NY 10006-3007
      View Details

    Similar Nearby for Sale

    • $13,250,000
      5,332 SF

      Downtown Retail/Office Building For Sale

      Three-story retail/office building with outdoor seating in downtown New York.
      87 Greenwich St, New York, NY 10006
      View Details
    • Contact for pricing
      6,295 SF

      Office Condo For Sale/Lease

      Office condo available for immediate possession, lease, or sale.
      40 Rector St, New York, NY 10006
      View Details

    Similar Nearby for Lease

    • $40 SF/Yr
      300 SF

      Downtown Manhattan Office Space

      Prime 300 sq ft Office, Wall Street
      65 Broardway, New York, NY 10006
      View Details
    • Contact for pricing
      5,983 SF

      77 Greenwich St: Medical Office Space

      Prime NYC Medical Office Suites Available
      77 Greenwich St, New York, NY 10006
      View Details
    • $39 SF/Yr
      3,145 SF

      Financial District Office Space Available

      Prime office space in Manhattan's Financial District for rent.
      39 Broadway, New York, NY 10006
      View Details
    • Contact for pricing
      29,364 SF

      Office Space in Financial District

      29,364 SF office space available for lease.
      200 Liberty St, New York, NY 10006
      View Details
    • Contact for pricing

      Furnished Office Space with Terrace

      Office space for lease near the Financial District with amenities.
      4 World Trade Ctr, New York, NY 10006
      View Details
    • Contact for pricing
      44,025 SF

      Creative Office Space Available

      High-end creative installation with offices, conference room, and workstations.
      1 Liberty Plz, New York, NY 10006
      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.
    115 Broadway
    New York, NY 10006
    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.