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

    1271-1273 3rd Ave New York, NY 10021

    • Retail residential properties
    • 15,849 SF
    • 0.09 lot acres
    OFF-MARKET
    Last Sale
    May 24, 2023
    Value Estimations
    $2,950,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3384271
    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

    • Retail residential properties

    Property Details for 1271-1273 3rd Ave

    Year built
    1900
    Lot size
    0.09 lot acres
    Property size
    15,849 SF
    Zone code
    C1-9
    Property type
    Retail residential properties
    APN
    01428-0001
    APU
    14280001

    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
    -73.9597
    Latitude
    40.7704
    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
    $477,133
    $1,620,000
    $2,196,450
    $3,816,450
    -
    $3,600,000
    $4,881,000
    $8,481,000

    Comparable in this City

    • Value Estimation
      $7,105,000
      16,231 SF

      203-205 74th St

      STORES & APARTMENTS • 16,231 SF
      203-205 74th St, New York, NY 10021
      View Details
    • Value Estimation
      $1,465,000
      7,860 SF

      401 76th St

      STORES & APARTMENTS • 7,860 SF
      401 76th St, New York, NY 10021-2559
      View Details
    • Value Estimation
      $3,565,000
      9,550 SF

      311 76th St

      STORES & APARTMENTS • 9,550 SF
      311 76th St, New York, NY 10021-2414
      View Details
    • Value Estimation
      $3,410,000
      19,082 SF

      349-351 76th St

      STORE/OFFICE (MIXED USE) • 19,082 SF
      349-351 76th St, New York, NY 10021
      View Details
    • Value Estimation
      $885,000
      74,427 SF

      49 73rd St

      STORES & APARTMENTS • 74,427 SF
      49 73rd St, New York, NY 10021-3520
      View Details
    • Value Estimation
      $2,925,000
      188,810 SF

      945 5th Ave

      STORES & APARTMENTS • 188,810 SF
      945 5th Ave, New York, NY 10021-2661
      View Details

    Similar Nearby for Sale

    • $10,000,000

      Madison Avenue Co-op Opportunity

      Full-floor Upper East Side co-op near Central Park.
      29 E 72Nd St, New York, NY 10021
      View Details
    • $6,000,000
      5,660 SF

      Luxury Upper East Side Apartment Building

      Prime location, 9 units, high returns.
      61 E 75th St, New York, NY 10021
      View Details
    • $4,175,000

      Lenox Hill Mixed-Use Townhouse

      South-facing townhouse with mixed-use zoning in Lenox Hill.
      197 E 76Th St, New York City, NY 10021
      View Details
    • Contact for pricing
      5,108 SF

      Manhattan Upper East Side Development

      Block-through development opportunity on the Upper East Side.
      433 E 76Th St, New York, NY 10021
      View Details
    • $699,000

      Apartment Building in New York

      Apartment building for sale in New York, NY.
      410 E 73Rd St, New York, NY 10021
      View Details
    • $2,595,000

      Apartment Building in New York

      Apartment building for sale in New York, NY.
      190 E 72Nd St, New York, NY 10021
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,395 SF

      Prime NYC Retail Space Available

      Second Ave Storefront - 1,200-2,195 SF
      1316-1318 2Nd Ave, New York, NY 10021
      View Details
    • Contact for pricing
      672 SF

      York Avenue Retail Space Available

      Retail space in high-density residential area near Q Train.
      1427 York Ave, New York, NY 10021
      View Details
    • Contact for pricing
      2,753 SF

      Retail Space Near Hunter College

      Retail space at base of luxury co-op near subway.
      150 E 69Th St, New York, NY 10021
      View Details
    • Contact for pricing
      1,220 SF

      Madison Avenue Retail Opportunity

      Bi-level retail space near Madison Avenue available for rent.
      24 E 73Rd St, New York, NY 10021
      View Details
    • $20,000 /Mo
      288 SF

      Madison Avenue Retail Space

      Retail space available on Madison Avenue in New York.
      922 Madison Ave, New York, NY 10021
      View Details
    • $2,500 /Mo
      400 SF

      Medical Office Space Available Now

      Medical office space featuring exam rooms and consultation room.
      1317 3Rd Ave, New York, NY 10021
      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.
    1271-1273 3rd Ave
    New York, NY 10021
    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.