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
    Property profile & analytics

    104 Franklin St New York, NY 10013

    • Office buildings
    • 11,355 SF
    • 0.06 lot acres
    For Lease
    View listing
    Last Sale
    Jun 28, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3305409
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Dr Julie Von / Holistic Medicine Practitioner
    • Temboo / Software Company
    • Erika Bloom Pilates / Pilates Studio
    • NYC Lease Car / Car Leasing Service
    • Erika Bloom Wellness / Pilates Studio

    Property Details for 104 Franklin St

    Year built
    1900
    Lot size
    0.06 lot acres
    Property size
    11,355 SF
    Zone code
    C62A
    Property type
    Office buildings
    APN
    00178-0005
    APU
    1780005

    Description

    This exceptional executive office space at 104 Franklin Street in New York City offers a rare opportunity to lease a highly desirable location. The building boasts a total of 5,121 square feet, currently entirely vacant and available for lease. Two contiguous spaces are available, with a minimum divisible space of 2,617 square feet and a maximum contiguous space of 2,504 square feet. This presents flexibility for businesses seeking either a single large suite or the possibility of dividing the space to accommodate multiple tenants. The property is classified as an executive office building, reflecting its high-quality construction and ideal location within New York County. The building features impressive ceiling heights ranging from 12 to 16 feet, creating a spacious and modern atmosphere. The address, 104 Franklin Street, places the property in a prime location within the vibrant New York City landscape, offering excellent accessibility and visibility. The zip code is 10013. This is an unparalleled opportunity to secure prestigious office space in a highly sought-after area of Manhattan. The entire 5,121 square feet is immediately available. This property is perfect for businesses seeking a sophisticated and functional workspace in the heart of New York City. The building's multiple tenancy option allows for a variety of configurations to suit individual business needs.

    Value Estimations

    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
    -74.0056
    Latitude
    40.7186
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $167,319
    $452,250
    $1,127,420
    $1,579,670
    -
    $1,005,000
    $2,548,000
    $3,553,000

    Comparable in this City

    • Value Estimation by Request
      53,200 SF

      22-26 Howard St

      OFFICE BUILDING (MULTI-STORY) • 53,200 SF
      22-26 Howard St, New York, NY 10013
      View Details
    • Value Estimation by Request
      17,000 SF

      122 Hudson St

      OFFICE BUILDING (MULTI-STORY) • 17,000 SF
      122 Hudson St, New York, NY 10013-2355
      View Details
    • Value Estimation by Request
      402,111 SF

      101 Ave Of The Americas

      OFFICE BUILDING (MULTI-STORY) • 402,111 SF
      101 Ave Of The Americas, New York, NY 10013-1933
      View Details
    • Value Estimation by Request
      10,350 SF

      556 Broome St

      OFFICE BUILDING (MULTI-STORY) • 10,350 SF
      556 Broome St, New York, NY 10013-1517
      View Details
    • Value Estimation by Request
      23,823 SF

      468 Broome St

      OFFICE BUILDING (MULTI-STORY) • 23,823 SF
      468 Broome St, New York, NY 10013-2611
      View Details
    • Value Estimation by Request
      10,900 SF

      343 Canal St

      OFFICE BUILDING (MULTI-STORY) • 10,900 SF
      343 Canal St, New York, NY 10013-2533
      View Details

    Similar Nearby for Sale

    • $11,000,000
      146,861 SF

      Prime NYC Executive Office Space

      146,861 SF Office Building, $11M
      121 Varick St, New York, NY 10013
      View Details
    • $14,000,000
      7,971 SF

      Tribeca Commercial Condo For Sale

      7,971 SF commercial condo in prime Tribeca location.
      66 White St, New York, NY 10013
      View Details
    • Contact for pricing
      425 SF

      Renovated Office Space in Tribeca

      Private, bright, and quiet office space for sale.
      105-107 Hudson St, New York, NY 10013
      View Details
    • $568,000

      Vacant Chinatown Office Condo

      807 sq ft office condo in the heart of Chinatown.
      210 New York Plz, Manhattan, NY 10013
      View Details
    • $1,488,000
      1,847 SF

      Chinatown Commercial Condo For Sale

      Turn-key 1847 sqft commercial condo in prime Chinatown location.
      198 Canal St, Manhattan, NY 10013
      View Details
    • $599,999
      807 SF

      Manhattan Office Space in Chinatown

      Versatile 807 Sqft office space in prime Manhattan location.
      210 Canal St, Manhattan, NY 10013
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      12,742 SF

      SoHo Cast Iron Building

      Cast iron building in SoHo with high ceilings.
      435 Broome St, New York, NY 10013
      View Details
    • $45 SF/Yr
      11,254 SF

      Hudson Street Office Space Available

      6-story office building with 60,000 square feet for rent.
      174 Hudson St, New York, NY 10013
      View Details
    • Contact for pricing
      1,353 SF

      Classic Office Building with Amenities

      Landmark office building in Lower Manhattan with modern amenities.
      120 Broadway, New York, NY 10013
      View Details
    • Contact for pricing
      6,125 SF

      Modern Office Building For Lease

      10-story office building with 39,930 square feet available for rent.
      202-204 Canal St, New York, NY 10013
      View Details
    • $82 SF/Yr
      37,819 SF

      Art Deco Office Space Available

      Landmarked Art Deco office building with renovated spaces for rent.
      32 Avenue Of The Americas, New York, NY 10013
      View Details
    • $110 SF/Yr
      4,000 SF

      Soho Executive Office Space, Nolita

      Prime Soho office, 4,000 sq ft, ideal for creative businesses.
      127 Elizabeth St, 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.
    104 Franklin St
    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.

    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.