Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    112 23Rd St New York, NY 10010

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    112 23Rd St New York, NY 10010

    View on Map
    • Retail properties & Spaces
    • 12,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • SkinShine EXPERT Microneedling NYC / Spa & Massage Center / Alternative Medicine Practice
    • Manhattan Medspa / Medical Clinic / Skin Care Clinic
    • Skin Shine Bar / Medical Clinic / Skin Care Clinic
    • Wendy's / Restaurant / Take-out & Catering
    • JINJINWELLNESS ACUPUNCTURE / Gym & Fitness Center / Alternative Medicine Practice

    Property Details for 112 23Rd St

    Year built
    1900
    Property size
    12,000 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Office properties & Spaces

    Description

    This exceptional 12,000 square foot multi-tenant building at 112 E 23rd St, New York, NY 10010 offers a unique opportunity for businesses seeking flexible space in a vibrant Manhattan location. Built in 1900, this four-story building currently has 3,500 square feet of vacant space available, divisible into units as small as 1,000 square feet and up to a contiguous 2,500 square feet. The property is zoned for retail and office use, including medical practices. A prime second-floor loft space is highlighted, boasting attractive features such as hardwood floors, impressive 11-foot ceilings, and a private bathroom. The space benefits from excellent street exposure, with windows facing 23rd Street, ensuring high visibility for your business. Convenient access is provided via both elevator and stairwells. The building's central location in New York City offers unparalleled access to transportation, amenities, and a diverse workforce. All uses are considered, making this a versatile option for a variety of businesses. This is a rare chance to secure a well-located, adaptable space in a thriving Manhattan neighborhood.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    Saratoga
    State
    New York
    Longitude
    -73.9859
    Latitude
    40.7396

    Comparable in this City

    • Value Estimation by Request
      11,700 SF

      110 23Rd St

      Restaurants • 11,700 SF
      110 23Rd St, New York, NY 10010
      View Details
    • Value Estimation by Request
      4,500 SF

      51 25Th St

      Medical Office Space • 4,500 SF
      51 25Th St, New York, NY 10010
      View Details
    • Value Estimation by Request
      32,948 SF

      110 23Rd St

      Individual retail properties • 32,948 SF
      110 23Rd St, New York, NY 10010
      View Details
    • Value Estimation by Request
      2,513 SF

      139 23Rd St

      Strip malls • 2,513 SF
      139 23Rd St, New York, NY 10010
      View Details
    • Value Estimation by Request

      23Rd St

      Retail properties & Spaces
      0 23Rd St, New York, NY 10010
      View Details
    • Value Estimation by Request
      650 SF

      383 2Nd Ave

      Retail properties & Spaces • 650 SF
      383 2Nd Ave, New York, NY 10010
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,100 SF

      Five-Story Mixed-Use Building in Flatiron

      Mixed-use building in Flatiron, New York, spanning 7,100 square feet.
      25 W 23Rd St, New York, NY 10010
      View Details
    • $4,500,000
      2,628 SF

      East 21st Street Mixed-Use Building

      Prime NYC location, high cash flow, strong NOI.
      343 21St St, New York, NY 10010
      View Details
    • Contact for pricing
      6,630 SF

      Flatiron District Retail Co-op

      6,630 SF retail co-op in Flatiron District.
      40 W 22Nd St, New York, NY 10010
      View Details
    • Contact for pricing
      17,078 SF

      Office Building in New York

      17,078 square foot office building for sale.
      42 E 23Rd St, New York, NY 10010
      View Details
    • $1,790,000
      3,102 SF

      Gramercy Park Office Condominium

      Full-floor commercial condo in prime Manhattan location.
      316 East 22Nd St, New York, NY 10010
      View Details
    • Contact for pricing
      18,500 SF

      Flatiron Office with Architectural Design

      Flatiron office space featuring brick arches, high ceilings, and natural light.
      936 Broadway, New York, NY 10010
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      285 SF

      Restaurant Space in Chelsea/NoMad

      Restaurant space with potential for hotel room service.
      125 West 26Th St, New York, NY 10010
      View Details
    • $247 SF/Yr
      1,456 SF

      Lexington Ave Restaurant Space

      Upscale Lenox Hill restaurant, turnkey.
      0 Restaurant Spc On Lexington Ave In Lenox Hl, New York, NY 10010
      View Details
    • Contact for pricing
      8,119 SF

      Restaurant Space with Kitchen Infrastructure

      Restaurant space with existing kitchen infrastructure, formerly Outback Steakhouse.
      60 W 23Rd St, New York, NY 10010
      View Details
    • Contact for pricing
      3,800 SF

      Fifth Avenue Retail/Office Space

      Prime Flatiron location, ideal for retail or office use.
      166 5Th Ave, New York, NY 10010
      View Details
    • Contact for pricing

      Retail and Office Spaces Available

      Retail and office spaces available for rent in New York.
      139 E 23Rd St, New York, NY 10010
      View Details
    • Contact for pricing

      Retail and Office Spaces Available

      Retail and office spaces for rent in New York.
      220 E 23Rd St, New York, NY 10010
      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.
    112 23Rd St
    New York, NY 10010
    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!