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    1263 Broadway New York, NY 10001-3593
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    Property profile & analytics

    1263 Broadway New York, NY 10001-3593

    View on Map
    • Investment properties
    • 10,752 SF
    • 0.06 lot acres
    Off-Market
    Property ID
    US63-3910243
    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.
    Value Estimations
    $5,130,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • KPOP NARA NYC / (Bike/Boat/Book/etc) Store
    • CREAM PREMIUM SMOKE SHOP / (Bike/Boat/Book/etc) Store
    • Divine Eyelash Studio / Hair Salon

    Property Details for 1263 Broadway

    Year built
    1910
    Lot size
    0.06 lot acres
    Property size
    10,752 SF
    Zone code
    C6-6
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    00833-0010
    APU
    8330010

    Description

    This exceptional commercial property, located at 1263 Broadway (also known as 884 Sixth Avenue) at the crossroads of 31st and 32nd Streets in the vibrant Koreatown and NoMad submarkets of New York City, offers a unique opportunity for businesses seeking flexible and strategically positioned space. The four-story building encompasses a total of 10,752 square feet, featuring six individual suites, ideal for a variety of uses including retail, showroom, and office space. Currently, 1,400 square feet are available for lease, with spaces ranging from a minimum of 800 square feet to a maximum contiguous space of 2,600 square feet. The building is equipped with elevators for convenient access to all floors. This prime location provides excellent visibility and accessibility, making it an attractive option for businesses seeking a high-traffic area with strong pedestrian and vehicular flow. The property's central location within Koreatown and NoMad offers proximity to a diverse range of businesses, residential areas, and public transportation, ensuring a thriving and dynamic environment for your business. The multiple suite configuration allows for flexibility in space requirements, catering to both small and medium-sized businesses. Don't miss this chance to secure your ideal space in one of Manhattan's most sought-after neighborhoods. The property is located in zip code 10001.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,710,000
      6.5%
      $5,275,000
      7%
      $4,895,000

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

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9886
    Latitude
    40.748
    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
    $270,398
    $900,000
    $1,652,850
    $2,552,850
    -
    $2,000,000
    $3,971,000
    $5,971,000

    Comparable in this City

    • Value Estimation
      $8,985,000
      8,681 SF

      140 34th St

      STORE/OFFICE (MIXED USE) • 8,681 SF
      140 34th St, New York, NY 10001-2102
      View Details
    • Value Estimation
      $910,000
      4,600 SF

      416 8th Ave

      STORE/OFFICE (MIXED USE) • 4,600 SF
      416 8th Ave, New York, NY 10001
      View Details
    • Value Estimation by Request
      2,962 SF

      421 9th Ave

      STORE/OFFICE (MIXED USE) • 2,962 SF
      421 9th Ave, New York, NY 10001-1618
      View Details
    • Value Estimation
      $875,000
      4,432 SF

      1177 Broadway

      STORE/OFFICE (MIXED USE) • 4,432 SF
      1177 Broadway, New York, NY 10001-7505
      View Details
    • Value Estimation
      $6,020,000
      13,194 SF

      32 32nd St

      STORE/OFFICE (MIXED USE) • 13,194 SF
      32 32nd St, New York, NY 10001-3818
      View Details
    • Value Estimation
      $510,000
      2,469 SF

      137 33rd St

      STORE/OFFICE (MIXED USE) • 2,469 SF
      137 33rd St, New York, NY 10001-2903
      View Details

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      Chelsea Mixed-Use Property with Air Rights

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      Prime NYC Executive Office Space

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      Retail Space for Lease

      Retail space available for lease in New York, NY.
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      Office Space for Lease

      Office space available for lease in New York, NY.
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      Prime Corner Pizzeria/QSR Location

      High-traffic corner location with vented lower level seating.
      421 7Th Ave, New York, NY 10001
      View Details
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      W 33rd St, New York, NY 10001

      Office properties & Spaces
      W 33Rd St, New York, NY 10001
      View Details
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      Prime Times Square Retail Space

      Retail space in Times Square with high foot traffic.
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      View Details
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    1263 Broadway
    New York, NY 10001-3593
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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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