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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2162 3rd Ave, Unit 2172 New York, NY 10035-4003

    • Retail residential properties
    • 29,607 SF
    • 0.26 lot acres
    OFF-MARKET
    Value Estimations
    $5,455,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3372694
    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

    • Event On 3RD / Event Venue
    • Access Initiatives / Wellness Center / Gym
    • Active Life Spa / Health Spa

    Property Details for 2162 3rd Ave

    Year built
    1930
    Lot size
    0.26 lot acres
    Property size
    29,607 SF
    Zone code
    C4-6
    Property type
    Retail residential properties
    APN
    01767-0033
    APU
    17670033

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,212,000
      Market price range: $3.30M - $16.8M

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

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9392
    Latitude
    40.7996
    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
    $87,368
    $282,150
    $542,700
    $824,850
    -
    $627,000
    $1,346,000
    $1,973,000

    Comparable in this City

    • Value Estimation by Request
      316,658 SF

      2306 3rd Ave

      STORES & APARTMENTS • 316,658 SF
      2306 3rd Ave, New York, NY 10035-1777
      View Details
    • Value Estimation
      $4,605,000
      18,000 SF

      2026 Lexington Ave

      STORES & APARTMENTS • 18,000 SF
      2026 Lexington Ave, New York, NY 10035-2224
      View Details
    • Value Estimation
      $2,255,000
      122,000 SF

      1772 Madison Ave, Unit 1782

      STORES & APARTMENTS • 122,000 SF
      1772 Madison Ave, New York, NY 10035-4524
      View Details
    • Value Estimation
      $3,630,000
      17,124 SF

      320 Pleasant Ave

      STORES & APARTMENTS • 17,124 SF
      320 Pleasant Ave, New York, NY 10035-4411
      View Details
    • Value Estimation
      $36,185,000
      138,086 SF

      1844 Park Ave

      STORES & APARTMENTS • 138,086 SF
      1844 Park Ave, New York, NY 10035-1301
      View Details
    • Value Estimation
      $980,000
      6,920 SF

      2181 3rd Ave

      STORES & APARTMENTS • 6,920 SF
      2181 3rd Ave, New York, NY 10035-4040
      View Details

    Similar Nearby for Sale

    • $1,950,000
      3,612 SF

      Lexington Ave Mixed-Use Investment

      East Harlem, NY: Value-add opportunity
      1873 Lexington Ave, New York, NY 10035
      View Details
    • $1,250,000
      Pending

      East Harlem Mixed-Use Building

      Multi-use building in East Harlem with residential and commercial units.
      2056 Madison Ave, New York, NY 10035
      View Details
    • $1,800,000
      1,682 SF

      East Harlem Brownstone Investment

      Four-unit mixed-use building, prime location.
      329 118Th St, New York, NY 10035
      View Details
    • $990,000
      3,812 SF

      Harlem Brownstone Multifamily Investment Opportunity

      25-foot-wide, 7-unit building in prime Harlem location.
      51 E 126Th St, Manhattan, NY 10035
      View Details
    • $4,380,000
      2,014 SF

      East Harlem Retail Development Site

      Development site in East Harlem with strong growth potential.
      2413 2Nd Ave, Manhattan, NY 10035
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      35,624 SF

      Prime NYC Retail Space Available

      Upscale Fifth Avenue Retail, Multiple Units
      2033 5Th Ave, New York, NY 10035
      View Details
    • Contact for pricing
      33,462 SF

      Mixed-Use Property in Harlem

      Three-level mixed-use property with retail and residential components.
      158 E 126Th St, New York, NY 10035
      View Details
    • $47 SF/Yr
      60,000 SF

      Upper East Side Office Space

      Prestigious East Harlem Offices, 200-18,400 SF
      116 124Th St, New York, NY 10035
      View Details
    • $6,000 /Mo

      Prime Ground Floor Retail Space

      Retail space in high-traffic, dense residential neighborhood.
      2413B 2Nd Ave, New York, NY 10035
      View Details
    • New
      $4,600 /Mo

      East Harlem Storefront on 2nd Avenue

      Prime retail space in East Harlem with high visibility.
      2296 New York Plz, Manhattan, NY 10035
      View Details
    • Contact for pricing
      2,420 SF

      Prime Harlem Retail Space

      2,420 SF Vacant Retail Space in NYC
      79 125Th St, New York, NY 10035
      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.
    2162 3rd Ave, Unit 2172
    New York, NY 10035-4003
    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.