Add Listing
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

    1005 1st Ave New York, NY 10022

    • Schools
    • 398,214 SF
    • 0.82 lot acres
    OFF-MARKET
    Value Estimations
    $5,225,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1311654
    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

    • Schools

    Property Details for 1005 1st Ave

    Year built
    1907
    Lot size
    0.82 lot acres
    Property size
    398,214 SF
    Zone code
    R10
    Property type
    Schools
    APN
    01348-0023
    APU
    13480023

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $5,226,000
      Market price range: $1.51M - $8.67M

    • Alternative Use

      Use
      Estimation
      COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE
      $5,210,000
      Current use
      OFFICE BUILDING
      $5,575,000
      Change: +7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9641
    Latitude
    40.7575
    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
    $0.00
    $20,471,850
    $32,135,940
    $52,607,790
    -
    $45,493,000
    $76,403,000
    $121,896,000

    Comparable in this City

    • Value Estimation by Request
      15,500 SF

      340 54th St

      COLLEGE, UNIVERSITY, VOC SCHOOL • 15,500 SF
      340 54th St, New York, NY 10022-5017
      View Details
    • Value Estimation by Request

      644 Lexington Ave

      Restaurants
      644 Lexington Ave, New York, NY 10022
      View Details
    • Value Estimation
      $19,785,000
      7,444 SF

      991 3rd Ave

      FUNERAL HOME • 7,444 SF
      991 3rd Ave, New York, NY 10022-1207
      View Details
    • Value Estimation by Request

      300 52Nd St

      Restaurants
      300 52Nd St, New York, NY 10022
      View Details
    • Value Estimation by Request

      60Th St

      Office properties & Spaces
      0 60Th St, New York, NY 10022
      View Details
    • Value Estimation by Request
      62,210 SF

      687-689 Lexington Ave

      HOTEL • 62,210 SF
      687-689 Lexington Ave, New York, NY 10022
      View Details

    Similar Nearby for Sale

    • $695,000

      New York Specialty Property For Sale

      Specialty property available for purchase in New York, NY.
      433 E 56Th St, New York, NY 10022
      View Details
    • $1,875,000
      Pending

      New York Specialty Property For Sale

      Specialty property available in New York, NY.
      315 E 52Nd St, New York, NY 10022
      View Details
    • $540,000
      Pending

      Specialty Property for Sale

      Specialty property available for sale in New York, NY.
      337 E 50Th St, New York, NY 10022
      View Details
    • Contact for pricing

      Manhattan Property with Cultural Significance

      Property with 120-year history, suitable for various high-end uses.
      57 East 55Th St, New York, NY 10022
      View Details
    • $1,100,000
      Pending

      Specialty Property in New York

      Specialty property available for sale in New York, NY.
      444 E 52Nd St, New York, NY 10022
      View Details
    • $395,000
      Pending

      Specialty Property for Sale

      Specialty property available for purchase in New York, NY.
      220 E 57Th St, New York, NY 10022
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      477 Madison Ave

      Discover many ways to work your way in Presidential Circle
      477 Madison Avenue Brg, New York, NY 10022
      View Details
    • $87 SF/Yr
      20,000 SF

      Midtown East Retail Space - 230 E 58th St

      Prime Midtown East Retail Opportunity
      230 58Th St, New York, NY 10022
      View Details
    • Contact for pricing

      445 Park Avenue

      Discover many ways to work your way in 445 Park Avenue
      445 Park Avenue, New York, NY 10022
      View Details
    • $210,000
      1,000 SF

      Lexington Ave Restaurant Space

      Prime Midtown East Cafe, 1054 SF
      644 Lexington Ave, New York, NY 10022
      View Details
    • Contact for pricing
      3,156 SF

      Prime NYC Retail Space Available

      East 60th Street Restaurant Opportunity
      205 60Th St, New York, NY 10022
      View Details
    • Contact for pricing
      342 SF

      Prime NYC Retail Space For Lease

      East 60th Street Retail Opportunity
      213 60Th St, New York, NY 10022
      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.
    1005 1st Ave
    New York, NY 10022
    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!