Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    68 Franklin Pl New York, NY 10013
    Back to Search
    Property profile & analytics

    68 Franklin Pl New York, NY 10013

    View on Map
    • Retail properties & Spaces
    • 5,560 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 68 Franklin Pl

    Property size
    5,560 SF
    Property type
    Retail properties & Spaces

    Description

    This exceptional retail property at 68 Franklin Place, New York, NY 10013, offers 5,560 square feet of space in a vibrant neighborhood. The property is zoned M1-5A and features multiple tenancies, with a minimum divisible space of 2,426 square feet and a maximum contiguous space of 5,044 square feet. Currently, 10,604 square feet are vacant, presenting a significant opportunity for businesses seeking a high-visibility location. The building's design allows for versatile customization to suit various business needs. High ceilings and modern fixtures create an attractive and comfortable environment for customers. The property benefits from high foot traffic and proximity to popular attractions, restaurants, and other businesses, ensuring a steady stream of potential customers. This location is ideal for a wide range of retail businesses, from boutiques and specialty shops to cafes and small-scale restaurants. The bustling neighborhood and diverse clientele create a favorable market for retailers seeking to establish or expand their presence in a highly desirable area of New York City. This is a unique opportunity to secure a prominent retail space in a thriving commercial district.

    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
    -74.0037
    Latitude
    40.7183

    Comparable in this City

    • Value Estimation by Request
      4,170 SF

      459 Broome St

      Retail properties & Spaces • 4,170 SF
      459 Broome St, New York, NY 10013
      View Details
    • Value Estimation by Request
      6,465 SF

      88 Leonard St

      Individual retail properties • 6,465 SF
      88 Leonard St, New York, NY 10013
      View Details
    • Value Estimation by Request
      9,437 SF

      21-25-27 Mercer St

      Retail properties & Spaces • 9,437 SF
      21-25-27 Mercer St, New York, NY 10013
      View Details
    • Value Estimation by Request
      4,000 SF

      15 Doyers St

      Hotels • 4,000 SF
      15 Doyers St, New York, NY 10013
      View Details
    • Value Estimation by Request
      7,835 SF

      125 Hudson St

      Retail properties & Spaces • 7,835 SF
      125 Hudson St, New York, NY 10013
      View Details
    • Value Estimation by Request
      30,000 SF

      230 Grand St

      Retail properties & Spaces • 30,000 SF
      230 Grand St, New York, NY 10013
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,800 SF

      Prime Chinatown Commercial Corner Building

      Four-story mixed-use building in prime Chinatown location.
      274 Canal St, New York, NY 10013
      View Details
    • $1,995,000

      Retail Property on Broadway, NYC

      Retail property for sale on Broadway in New York.
      391 Broadway, New York, NY 10013
      View Details
    • $14,000,000
      4,800 SF

      Chinatown Commercial Corner Building

      Four-story commercial building in prime Chinatown location with approved plans.
      274 Canal St, New York, NY 10013
      View Details
    • Contact for pricing
      19,873 SF

      SoHo Mixed-Use Conversion Opportunity

      Five-story mixed-use building in SoHo with conversion potential.
      151 Grand St, New York, NY 10013
      View Details
    • $7,990,000

      Chinatown Mixed-Use Elevator Building

      Mixed-use building in prime location with retail and residential units.
      198 Grand St, New York, NY 10013
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,000 SF

      TriBeCa Restaurant Space Available

      Fully built, vented restaurant space in prime TriBeCa location.
      317 Greenwich St, New York, NY 10013
      View Details
    • Contact for pricing
      1,000 SF

      Turn-Key Restaurant/Bar Opportunity

      Restaurant/bar with liquor license near Google Headquarters.
      324 Spring St, New York, NY 10013
      View Details
    • Contact for pricing
      11,840 SF

      Retail Space on Broadway, NY

      Retail property available for lease on Broadway in New York.
      442 Broadway, New York, NY 10013
      View Details
    • Contact for pricing
      700 SF

      Tribeca Corner Restaurant Space

      Corner restaurant space in Tribeca with kitchen and storage.
      130 W Broadway, New York, NY 10013
      View Details
    • Contact for pricing
      777 SF

      Vented Restaurant Space in Tribeca

      Fully-built restaurant space in Tribeca's Art and Design District.
      325 Church St, New York, NY 10013
      View Details
    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease in New York, NY.
      480 Broadway, New York, NY 10013
      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.
    68 Franklin Pl
    New York, NY 10013
    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
    68 Franklin Pl, New York, NY, 10013
    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!