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

    112 4Th Ave New York, NY 10003

    • Apartment buildings
    • 13,969 SF
    • 0.07 lot acres
    For Lease
    View listing
    $22,500,000
    Last Sale
    Mar 29, 2023
    $9,650,000
    Value Estimations
    $9,565,000
    Cap Rate Potential
    4.5%
    Apartment buildings
    Location Intelligence
    Property ID
    US63-3251067
    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

    • Shirley Green Photography / Photography Service / (Bike/Boat/Book/etc) Store
    • Gordon Joel / Photography Service / (Bike/Boat/Book/etc) Store
    • Elaine J. Abrams / Alternative Medicine Practice
    • Eisenberg Lauri / Law Firm

    Property Details for 112 4Th Ave

    Year built
    1900
    Lot size
    0.07 lot acres
    Property size
    13,969 SF
    Zone code
    C6-1
    Property type
    Apartment buildings
    APN
    00557-0025
    APU
    5570025

    Description

    This exceptional retail opportunity is located at 112 4th Avenue in New York City's vibrant New York County (zip code 10003). The property offers a total of 4,948 square feet of commercial space, currently entirely vacant and available for lease. This presents a unique chance for multiple businesses to establish themselves in a high-traffic area. The flexible layout allows for various configurations, with individual units ranging from a minimum of 1,048 square feet to a maximum contiguous space of 2,400 square feet. This adaptability makes it ideal for a variety of retail concepts, from smaller boutiques to larger flagship stores. The building's location in New York City ensures high visibility and foot traffic, providing excellent potential for attracting customers. The property is classified as a multi-tenant retail building, offering a diverse and dynamic environment. With its strategic location and ample space, this property represents a compelling investment opportunity for businesses seeking a prominent presence in one of New York City's most dynamic neighborhoods. The entire 4,948 square feet is available for lease, providing significant potential for a single tenant or multiple tenants. Interested parties are encouraged to inquire about lease terms and conditions.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $9,715,000
      ML approach
      $9,240,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $7,285,000
      6.5%
      $6,725,000
      7%
      $6,245,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $11,118,000
      Market price range: $6.57M - $19.5M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $12,805,000
      Current use
      COMMERCIAL (GENERAL)
      $11,815,000
      Change: -8% Conversion: Moderate
      WAREHOUSE, STORAGE
      $11,415,000
      Change: -11% 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
    -73.9905
    Latitude
    40.7326
    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
    $168,271
    $301,687
    $1,044,264
    $1,345,951
    -
    $1,970,000
    $6,819,000
    $8,789,000

    Comparable in this City

    • Value Estimation
      $10,245,000
      29,796 SF

      140-142 17th St

      APARTMENT HOUSE (5+ UNITS) • 29,796 SF
      140-142 17th St, New York, NY 10003
      View Details
    • Value Estimation
      $3,010,000
      8,240 SF

      235 12th St

      APARTMENT HOUSE (5+ UNITS) • 8,240 SF
      235 12th St, New York, NY 10003-9115
      View Details
    • Value Estimation
      $11,695,000
      34,708 SF

      52-54 13th St

      APARTMENT HOUSE (5+ UNITS) • 34,708 SF
      52-54 13th St, New York, NY 10003
      View Details
    • Value Estimation
      $8,165,000
      27,600 SF

      21 2nd St, Unit 27

      APARTMENT HOUSE (5+ UNITS) • 27,600 SF
      21 2nd St, New York, NY 10003-8929
      View Details
    • Value Estimation
      $3,965,000
      8,160 SF

      27 7th St

      APARTMENT HOUSE (5+ UNITS) • 8,160 SF
      27 7th St, New York, NY 10003-8295
      View Details
    • Value Estimation
      $8,415,000
      17,310 SF

      50-52 3rd St

      APARTMENT HOUSE (5+ UNITS) • 17,310 SF
      50-52 3rd St, New York, NY 10003
      View Details

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    112 4Th Ave
    New York, NY 10003
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    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
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