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

    21 Orch St New York, NY 10002-6268

    • Office Properties & Spaces
    • 3,125 SF
    • 0.02 lot acres
    OFF-MARKET
    Last Sale
    May 26, 2020
    Value Estimations
    $1,115,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2162080
    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

    • Maiden Name / Clothing Store

    Property Details for 21 Orch St

    Year built
    1900
    Lot size
    0.02 lot acres
    Property size
    3,125 SF
    Zone code
    C6-2
    Property type
    Office Properties & Spaces
    APN
    00299-0029
    APU
    2990029

    Description

    This exceptional 1,000-square-foot creative office space is situated on the second floor of 21 Orchard Street, in the heart of New York County's Lower East Side. The property is a single-tenant space, perfect for a business seeking a vibrant and inspiring work environment. The space boasts abundant natural light, enhancing productivity and creating a welcoming atmosphere. Two split HVAC units ensure efficient and comfortable climate control throughout the year. Beyond the immediate office space, tenants enjoy access to a shared rooftop lounge offering stunning city views – a unique amenity perfect for relaxation or informal meetings. The building's location on Orchard Street places you within a dynamic neighborhood known for its eclectic mix of art galleries, high-end boutiques, and a thriving culinary scene. This blend of historical charm and modern urban energy makes 21 Orchard Street an ideal location for businesses seeking a prestigious and convenient address. The property is classified as both retail and office space, and is currently configured as a creative office, though it could potentially suit traditional office needs as well. The Lower East Side's rich cultural history and its ongoing revitalization make this a highly desirable location for businesses of all types. This space offers a unique opportunity to establish a presence in one of Manhattan's most exciting and up-and-coming neighborhoods.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,640,000
      6.5%
      $1,515,000
      7%
      $1,405,000

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

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9918
    Latitude
    40.7154
    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
    $42,087
    $51,750
    $346,950
    $398,700
    -
    $115,000
    $768,000
    $883,000

    Comparable in this City

    • Value Estimation
      $1,605,000
      4,350 SF

      23 Division St

      OFFICE (GENERAL) • 4,350 SF
      23 Division St, New York, NY 10002-6707
      View Details
    • Value Estimation
      $2,595,000
      7,100 SF

      43 Broadway

      OFFICE (GENERAL) • 7,100 SF
      43 Broadway, New York, NY 10002-6804
      View Details
    • Value Estimation
      $2,075,000
      8,580 SF

      47 Canal St

      OFFICE (GENERAL) • 8,580 SF
      47 Canal St, New York, NY 10002-6126
      View Details
    • Value Estimation
      $1,710,000
      5,614 SF

      91 Canal St

      OFFICE (GENERAL) • 5,614 SF
      91 Canal St, New York, NY 10002-6045
      View Details
    • Value Estimation
      $770,000
      29,803 SF

      200th Orch St

      CONDOMINIUM OFFICES • 29,803 SF
      200th Orch St, New York, NY 10002-1457
      View Details
    • Value Estimation
      $2,305,000
      6,418 SF

      202 Broome St, Unit BSG

      CONDOMINIUM OFFICES • 6,418 SF
      202 Broome St, New York, NY 10002-6780
      View Details

    Similar Nearby for Sale

    • $4,500,000
      5,000 SF

      Chinatown Commercial Condo Gem

      5,000 SF Office/Retail Condo in NYC
      2 Allen St 2, New York, NY 10002
      View Details
    • $19,000,000

      Turnkey Retail in Lower Manhattan

      Vacant, move-in ready retail space in a dynamic location.
      113 Bowery St, New York, NY 10002
      View Details
    • $2,090,000

      Downtown Manhattan Medical Office Space

      Prime medical office space in the heart of Downtown Manhattan.
      89 Bowery, New York, NY 10002
      View Details
    • Contact for pricing
      1,582 SF

      Office Space with Private Terrace

      Office space with large private terrace in Two Bridges/Chinatown.
      148 Madison St, New York, NY 10002
      View Details
    • $11,125,000
      11,315 SF

      Madison Street Office Building

      Office building for sale in New York, NY.
      197-199 Madison St, New York, NY 10002
      View Details

    Similar Nearby for Lease

    • $78 SF/Yr
      1,950 SF

      Hester Street Retail & Office

      Prime NYC Retail/Office Spaces Available
      46 Hester St, New York, NY 10002
      View Details
    • Contact for pricing
      2,000 SF

      Prime Manhattan Executive Office Space

      Luxury Office Suites, 500-2000 sq ft
      122 Rivington St, New York, NY 10002
      View Details
    • Contact for pricing
      200,000 SF

      Mixed-Use Property in New York

      Residential and office space available for rent in New York.
      155 Delancey St, New York, NY 10002
      View Details
    • $4,000 /Mo

      30 Broadway Ny 10002

      Professional Space For Lease In Manhattan's Chinatown
      30 Broadway Ny 10002, New York, NY 10002
      View Details
    • Contact for pricing
      1,339 SF

      Renovated Office Space Near Transit

      Office space with recent renovations and convenient transportation access.
      1410 Broadway, New York, NY 10002
      View Details
    • Contact for pricing
      3,360 SF

      Bowery Plug-and-Play Office Space

      Sublease opportunity with existing installations and direct elevator access.
      109 Bowery, New York, NY 10002
      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.
    21 Orch St
    New York, NY 10002-6268
    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.