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

    1599 Lexington Ave, Unit 1605 New York, NY 10029-6122

    • Gas stations
    • 1,150 SF
    • 0.19 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3231842
    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

    • FULL SERVICE GAS STATION AND REPAIR SHOP / Auto Repair Shop
    • U-Haul Neighborhood Dealer / Car Rental Facility
    • Shell / Gas Station
    • Nitro Plus Service / Auto Repair Shop

    Property Details for 1599 Lexington Ave

    Year built
    1955
    Lot size
    0.19 lot acres
    Property size
    1,150 SF
    Zone code
    R7-2
    Property type
    Gas stations
    APN
    01629-0150
    APU
    16290150

    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
    -73.948
    Latitude
    40.7894
    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
    $36,415
    $168,750
    $175,050
    $343,800
    -
    $375,000
    $437,000
    $812,000

    Comparable in this City

    • Value Estimation by Request
      4,175 SF

      2043-2049 1st Ave

      SERVICE STATION (FULL SERVICE) • 4,175 SF
      2043-2049 1st Ave, New York, NY 10029
      View Details
    • Value Estimation
      $8,730,000
      617,062 SF

      545-547 116th St

      AUTO REPAIR, GARAGE • 617,062 SF
      545-547 116th St, New York, NY 10029
      View Details
    • Value Estimation
      $18,390,000
      15,600 SF

      2013 3rd Ave

      AUTO REPAIR, GARAGE • 15,600 SF
      2013 3rd Ave, New York, NY 10029-3208
      View Details
    • Value Estimation
      $1,860,000
      16,786 SF

      1465 Park Avegu

      PARKING GARAGE, PARKING STRUCTURE • 16,786 SF
      1465 Park Avegu, New York, NY 10029-3889
      View Details
    • Value Estimation by Request
      8,000 SF

      1943 1st Ave

      AUTO REPAIR, GARAGE • 8,000 SF
      1943 1st Ave, New York, NY 10029
      View Details
    • Value Estimation by Request
      1,600 SF

      2244 2nd Ave

      AUTO REPAIR, GARAGE • 1,600 SF
      2244 2nd Ave, New York, NY 10029-2202
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      50,000 SF

      Harlem Multifamily Portfolio

      Prime East Harlem Investment Opportunity
      1980 2Nd Ave, New York, NY 10029
      View Details
    • $6,900,000
      10,716 SF

      Park Avenue Retail Condo Opportunity

      10,716 SF Grocery Store, Vacant, $6.9M
      1516 Park Avenue, New York, NY 10029
      View Details
    • $2,350,000
      4,500 SF

      East Harlem Mixed-Use Investment

      Prime Retail, Residential, Value-Add
      151 116Th St, New York, NY 10029
      View Details
    • Contact for pricing
      60,374 SF

      East Harlem Retail Development Opportunity

      60,374 SF retail space near upcoming Q train stop.
      2249 2Nd Ave, New York, NY 10029
      View Details
    • $5,250,000

      East Harlem Development Site

      Prime location, retail tenants, high potential.
      81-85 110Th St, New York, NY 10029
      View Details
    • $689,000
      842 SF

      Upscale Residences Near Central Park

      42 upscale residences, studios to two-bedroom homes, modern interiors.
      168 E 111Th St, Manhattan, NY 10029
      View Details

    Similar Nearby for Lease

    • $73 SF/Yr
      1,800 SF

      Prime East Harlem Retail Space

      1,800 SF Retail Space - High Traffic
      2147 2Nd Ave, New York, NY 10029
      View Details
    • $810 /Mo
      800 SF

      Prime East Harlem Retail Space

      800 sq ft, High Traffic Location
      451 116Th St, New York, NY 10029
      View Details
    • $5,000 /Mo
      620 SF

      Retail Space on Second Avenue

      Retail space in white-box condition with high foot traffic.
      2164 2Nd Ave, New York, NY 10029
      View Details
    • Contact for pricing
      1,460 SF

      Madison Avenue Retail Space Available

      Retail space with high visibility and heavy pedestrian traffic.
      1490 Madison Ave, New York, NY 10029
      View Details
    • $70 SF/Yr
      2,192 SF

      Madison Ave Retail Spaces Available

      Prime NYC Retail: Two Units Available
      1600 Madison Ave, New York, NY 10029
      View Details
    • Contact for pricing
      2,900 SF

      Lexington Ave Medical Office Space

      Prime NYC Medical Office - 2,900 SF
      1677 Lexington Ave, New York, NY 10029
      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.
    1599 Lexington Ave, Unit 1605
    New York, NY 10029-6122
    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.