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

    121 3rd St New York, NY 10012-1287

    • Investment properties
    • 6,398 SF
    • 0.04 lot acres
    OFF-MARKET
    Value Estimations
    $2,655,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3756182
    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

    • Gordon Randall Perry Design / IT Consulting Firm
    • west 3rd gourmet deli / Food Market / Restaurant
    • M363 The Neighborhood School / High School
    • The STAR Academy - P.S.63 / High School / Vocational School
    • gordonperry.com / (Bike/Boat/Book/etc) Store

    Property Details for 121 3rd St

    Year built
    1900
    Lot size
    0.04 lot acres
    Property size
    6,398 SF
    Zone code
    R7-2
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    00543-0061
    APU
    5430061

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,400,000
      6.5%
      $3,135,000
      7%
      $2,915,000

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

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -74.0003
    Latitude
    40.7307
    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
    $109,038
    $208,062
    $664,104
    $872,166
    -
    $1,180,000
    $3,766,400
    $4,946,400

    Comparable in this City

    • Value Estimation
      $1,115,000
      3,776 SF

      7 Bleecker St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,776 SF
      7 Bleecker St, New York, NY 10012-2402
      View Details
    • Value Estimation
      $4,585,000
      16,050 SF

      188 Bowery

      OFFICE/RESIDENTIAL (MIXED USE) • 16,050 SF
      188 Bowery, New York, NY 10012-4606
      View Details
    • Value Estimation
      $2,025,000
      10,634 SF

      96 Greene St

      OFFICE/RESIDENTIAL (MIXED USE) • 10,634 SF
      96 Greene St, New York, NY 10012-5220
      View Details
    • Value Estimation
      $4,500,000
      4,716 SF

      179 Mott St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,716 SF
      179 Mott St, New York, NY 10012-4502
      View Details
    • Value Estimation by Request
      6,375 SF

      238 Mulberry St

      OFFICE/RESIDENTIAL (MIXED USE) • 6,375 SF
      238 Mulberry St, New York, NY 10012-4288
      View Details
    • Value Estimation
      $2,655,000
      8,352 SF

      138-140 Houston St

      OFFICE/RESIDENTIAL (MIXED USE) • 8,352 SF
      138-140 Houston St, New York, NY 10012
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,950 SF

      Bowery Retail Space Available

      Retail space available for rent in New York, NY.
      258 Bowery, New York, NY 10012
      View Details
    • $4,000,000
      Pending

      Apartment Building in New York

      Apartment building for sale in New York, NY.
      465 W Broadway 3S, New York, NY 10012
      View Details
    • $549,500

      Bleecker Street Apartment for Sale

      Apartment building for sale, priced at $549,500.
      77 Bleecker St, New York, NY 10012
      View Details
    • $1,600,000
      Pending

      Residential Property in New York

      Residential property for sale in New York, NY 10012.
      25 Minetta Ln, New York, NY 10012
      View Details
    • $3,000,000

      Residential Property in New York

      Residential property for sale in New York, NY 10012.
      419 W Broadway 4S, New York, NY 10012
      View Details
    • $744,000

      Apartment Building in New York

      Apartment building for sale in New York, NY.
      210 Thompson St, New York, NY 10012
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,099 SF

      Retail Space on Bond Street

      Retail space available for rent in New York, NY.
      50 Bond St, New York, NY 10012
      View Details
    • Contact for pricing
      1,390 SF

      Greenwich Village Retail Space Available

      High-visibility corner retail space in the heart of Greenwich Village.
      184 Thompson St, New York, NY 10012
      View Details
    • Contact for pricing
      8,500 SF

      Office Space in New York

      8,500 SF office space available for rent in New York.
      295 Lafayette St, New York, NY 10012
      View Details
    • Contact for pricing
      25,000 SF

      Pre-built Furnished Office Space

      Pre-built and furnished office space available for rent.
      67-73 Spring St, New York, NY 10012
      View Details
    • Contact for pricing
      551 SF

      SoHo Office Building For Rent

      First-class, 15-story office building in SoHo with 24/7 access.
      270 Lafayette St, New York, NY 10012
      View Details
    • $13,550 /Mo

      New York, NY 10012

      PRIME NOLITA RETAIL STORE FOR RENT - HEAVY FOOT TRAFFIC
      New York, NY 10012
      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.
    121 3rd St
    New York, NY 10012-1287
    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!