Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    45 1St Ave New York, NY 10003
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    45 1St Ave New York, NY 10003

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

    Current Use by Public Records

    • Seamless Media Inc / Marketing & Advertising
    • Aziza Cafe and Lounge / Bar & Pub / (Bike/Boat/Book/etc) Store
    • Organic and Convenience / Grocery & Convenience Store
    • City Fun / (Bike/Boat/Book/etc) Store
    • Cortex Ads / Marketing & Advertising / Advertising Agency

    Property Details for 45 1St Ave

    Property type
    Retail properties & Spaces

    Description

    This exceptional 500-square-foot retail space is ideally situated in the vibrant East Village, offering a prime location for a variety of businesses. The property boasts a desirable street-level presence on 1st Avenue, ensuring high visibility and foot traffic. The space is currently configured as a "white box," providing a blank canvas for a tenant to customize the layout and design to perfectly suit their needs. In addition to the ground floor space, a full basement is included, offering valuable extra storage or potential for expansion. The property's excellent location near a subway station ensures easy accessibility for both customers and employees. This makes it an attractive option for businesses seeking a high-traffic area with convenient public transportation. The space is perfect for a variety of uses, including but not limited to a hair salon, coffee shop, or wine store. However, please note that smoke shops and CBD businesses are not permitted. This is a rare opportunity to secure a well-located, versatile retail space in one of Manhattan's most sought-after neighborhoods. The property is offered as a single-tenant space in New York County. Don't miss this chance to establish your business in this thriving area.

    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
    -73.9878
    Latitude
    40.7244

    Comparable in this City

    • Value Estimation by Request
      2,664 SF

      137 13Th St

      Restaurants • 2,664 SF
      137 13Th St, New York, NY 10003
      View Details
    • Value Estimation by Request
      15,600 SF

      6 St Marks Pl

      Office properties & Spaces • 15,600 SF
      6 St Marks Pl, New York, NY 10003
      View Details
    • Value Estimation by Request

      14Th St

      Retail properties & Spaces
      0 14Th St, New York, NY 10003
      View Details
    • Value Estimation by Request

      14Th St

      Retail properties & Spaces
      0 14Th St, New York, NY 10003
      View Details
    • Value Estimation by Request

      7Th St

      Retail properties & Spaces
      0 7Th St, New York, NY 10003
      View Details
    • Value Estimation by Request
      3,000 SF

      52 13Th St

      Retail properties & Spaces • 3,000 SF
      52 13Th St, New York, NY 10003
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Vacant Retail/Medical/Office Opportunity

      Vacant retail, medical, or office space available for sale.
      21 E 17Th St, New York, NY 10003
      View Details
    • $150,000

      East Village Pizza Store

      Pizza store for sale in the heart of East Village.
      109 1St Ave, Manhattan, NY 10003
      View Details
    • Contact for pricing
      11,250 SF

      Historic Ladies' Mile Mixed-Use Property

      Historic property in Ladies' Mile District with multiple permitted uses.
      21 E 17Th St, New York, NY 10003
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space with Lower Level

      Retail space featuring ground floor and lower level options.
      214 E 9Th St, New York, NY 10003
      View Details
    • Contact for pricing
      11,000 SF

      Prime Location Near Union Square

      Located north of Union Square and Broadway pedestrian plaza.
      868 Broadway, New York, NY 10003
      View Details
    • Contact for pricing
      11,125 SF

      Vacant Retail/Medical/Office Opportunity

      Vacant property suitable for retail, medical, or office use.
      21 E 17Th St, New York, NY 10003
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      600 SF

      Turn Key Restaurant Space

      Restaurant space adjacent to Harvest Collegiate High School.
      18 E 14Th St, New York, NY 10003
      View Details
    • Contact for pricing

      Flatiron Office Co-Op Opportunity

      8,500 SF Flatiron office co-op available for lease.
      85 5Th Ave, New York, NY 10003
      View Details
    • $16,000 /Mo

      Restaurant Space with Outdoor Patio

      Restaurant space with backyard dining and full liquor license.
      182 2Nd Ave, New York, NY 10003
      View Details
    • Contact for pricing
      5,207 SF

      Retail Space in New York

      Retail property available for rent in New York, NY.
      784 Broadway, New York, NY 10003
      View Details
    • Contact for pricing
      1,000 SF

      Restaurant Space in Manhattan

      Vented restaurant space in prime Manhattan location.
      29 E 20Th St, New York, NY 10003
      View Details
    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease in New York, NY.
      761 Broadway, New York, NY 10003
      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.
    45 1St Ave
    New York, NY 10003
    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.
    Sign Up Successful!
    You now have access to more from Realmo!