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

    115-117 23rd St New York, NY 10010

    • Banks
    • 69,007 SF
    • 0.14 lot acres
    OFF-MARKET
    Value Estimations
    $515,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-4234188
    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

    • Banks

    Property Details for 115-117 23rd St

    Year built
    1913
    Lot size
    0.14 lot acres
    Property size
    69,007 SF
    Zone code
    C64A
    Property type
    Banks
    APN
    00879-0009
    APU
    8790009

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9854
    Latitude
    40.7401
    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
    $748,125
    $1,768,500
    $5,294,610
    $7,063,110
    -
    $3,930,000
    $12,911,000
    $16,841,000

    Comparable in this City

    • Value Estimation by Request
      45,309 SF

      15-17 26th St

      FINANCIAL BUILDING • 45,309 SF
      15-17 26th St, New York, NY 10010
      View Details
    • Value Estimation by Request
      24,038 SF

      36 23rd St

      FINANCIAL BUILDING • 24,038 SF
      36 23rd St, New York, NY 10010-4409
      View Details
    • Value Estimation
      $1,465,000
      183,168 SF

      1129 Broadway, Unit 1137

      FINANCIAL BUILDING • 183,168 SF
      1129 Broadway, New York, NY 10010-2006
      View Details
    • Value Estimation by Request
      169,360 SF

      60 Madison Ave

      FINANCIAL BUILDING • 169,360 SF
      60 Madison Ave, New York, NY 10010-1600
      View Details
    • Value Estimation
      $39,250,000
      169,887 SF

      20 22nd St, Unit 26

      FINANCIAL BUILDING • 169,887 SF
      20 22nd St, New York, NY 10010-5804
      View Details
    • Value Estimation
      $2,090,000
      337,000 SF

      49 23rd St, Unit 57

      FINANCIAL BUILDING • 337,000 SF
      49 23rd St, New York, NY 10010-4206
      View Details

    Similar Nearby for Sale

    • $2,150,000

      Retail Condominium in Manhattan Submarket

      Retail condominium with ground level and basement space in Manhattan.
      139 E 23Rd St, New York, NY 10010
      View Details
    • $149,999

      Established Bakery in Prime Location

      Profitable bakery for sale in Franklin Square, Hempstead Turnpike.
      772 Hempstead Tpke, Franklin Square, NY 10010
      View Details
    • $1,000,000
      1,200 SF

      Retail Cooperative Unit in Flatiron

      Retail cooperative unit in Flatiron, New York, spanning 1,200 SF.
      28 E 22Nd St, New York, NY 10010
      View Details
    • Contact for pricing
      2,500 SF

      Prime NYC Storefront Retail Space

      2,500 SF Retail Space Near Baruch College
      125 23Rd St, New York, NY 10010
      View Details
    • $9,950,000
      11,000 SF

      Flatiron Retail Space For Sale

      11,000 SF retail space in the NOHO/Flatiron district.
      42 W 24Th St, New York, NY 10010
      View Details
    • $2,200,000
      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

    Similar Nearby for Lease

    • Contact for pricing
      5,946 SF

      Prime Retail Space in Manhattan

      Ideal for bank, restaurant, salon, medical, bar, or office.
      403 W 23Rd St, New York, NY 10010
      View Details
    • Contact for pricing
      3,354 SF

      Prime Retail Space Near Subway

      Retail space near Madison Square Park and subway station entrance.
      5 E 22Nd St, New York, NY 10010
      View Details
    • Contact for pricing
      2,960 SF

      Prime Manhattan Retail Opportunity

      High-visibility retail space in a busy Manhattan corridor.
      670 Avenue Of The Americas, New York, NY 10010
      View Details
    • $49 SF/Yr
      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
      750 SF

      Retail Space Near Subway Stop

      Prime retail location next to the 6 subway stop.
      295 Park Ave S, New York, NY 10010
      View Details
    • Contact for pricing

      Retail Space in Chelsea, NYC

      Prime retail space available in Chelsea, Manhattan.
      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.
    115-117 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.