Add Listing
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

    234 5th Ave New York, NY 10001-7607

    • Office buildings
    • 20,530 SF
    • 0.10 lot acres
    OFF-MARKET
    Value Estimations
    $5,455,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2433649
    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

    • William Tennant LLC / Law Firm
    • outré creative / Marketing & Advertising / (Bike/Boat/Book/etc) Store
    • Signpost / (Bike/Boat/Book/etc) Store / Corporate Office
    • Lexter Antonio Law Office / Law Firm
    • Burrell Law, P.C. / Law Firm

    Property Details for 234 5th Ave

    Year built
    1950
    Lot size
    0.10 lot acres
    Property size
    20,530 SF
    Zone code
    C5-2
    Property type
    Office buildings
    APN
    00829-0035
    APU
    8290035

    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
    -73.988
    Latitude
    40.7443
    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
    $213,201
    $670,500
    $1,342,350
    $2,012,850
    -
    $1,490,000
    $4,188,000
    $5,678,000

    Comparable in this City

    • Value Estimation
      $6,125,000
      15,040 SF

      342348 7th Ave

      OFFICE BUILDING (MULTI-STORY) • 15,040 SF
      342348 7th Ave, New York, NY 10001-5012
      View Details
    • Value Estimation by Request
      2,521,850 SF

      427-429 10th Ave

      OFFICE BUILDING (MULTI-STORY) • 2,521,850 SF
      427-429 10th Ave, New York, NY 10001
      View Details
    • Value Estimation
      $11,235,000
      43,903 SF

      122-126 30th St

      OFFICE BUILDING (MULTI-STORY) • 43,903 SF
      122-126 30th St, New York, NY 10001
      View Details
    • Value Estimation
      $9,165,000
      39,821 SF

      43-47 33rd St

      OFFICE BUILDING (MULTI-STORY) • 39,821 SF
      43-47 33rd St, New York, NY 10001
      View Details
    • Value Estimation
      $8,945,000
      23,406 SF

      1204 Broadway, Unit 1210

      OFFICE BUILDING (MULTI-STORY) • 23,406 SF
      1204 Broadway, New York, NY 10001-4308
      View Details
    • Value Estimation by Request
      1,178,640 SF

      380 11th Ave

      OFFICE BUILDING (MULTI-STORY) • 1,178,640 SF
      380 11th Ave, New York, NY 10001
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,000 SF

      Commercial Office Building For Sale

      Commercial office building with 6,000 square feet available for sale.
      28 W 27Th St, New York, NY 10001
      View Details
    • Contact for pricing
      10,595 SF

      NoMad Office Building For Sale

      Five-story commercial office building in NoMad, delivered vacant.
      3 W 30Th St, New York, NY 10001
      View Details
    • Contact for pricing
      102,137 SF

      West Chelsea Block-Through Frontage Buildings

      Two adjacent buildings in West Chelsea with block-through frontage.
      548 West 28Th St, New York, NY 10001
      View Details
    • $5,600,000
      8,000 SF

      Prime NYC Executive Office Space

      Luxury 8,000 SF Penthouse Loft, $5.6M
      134 26Th St, New York, NY 10001
      View Details
    • Contact for pricing

      Accessible Herald Square Location

      Located near public transportation and major transit hubs.
      18 W 33Rd St, New York, NY 10001
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Prime Midtown Manhattan Office Building

      Coveted business address near transportation, retail, and entertainment.
      370 7Th Ave, New York, NY 10001
      View Details
    • Contact for pricing

      Prime Location Office/Retail Building

      18-story building in Manhattan's Herald Square, near Macy's.
      147 W 35Th St, New York, NY 10001
      View Details
    • Contact for pricing

      Class A Medical Office Space

      Modernized Class A medical office space for lease in New York.
      E 60Th St, New York, NY 10001
      View Details
    • Contact for pricing
      72,180 SF

      NoMad Boutique Trophy Office Space

      Class A office building in NoMad near Penn Station.
      1245 Broadway, New York, NY 10001
      View Details
    • Contact for pricing
      1,912 SF

      Midtown Manhattan Mixed-Use Office Building

      15-story leasable office building in Midtown Manhattan's Chelsea neighborhood.
      236 W 27Th St, New York, NY 10001
      View Details
    • Contact for pricing

      GRND Penn Plaza Office Space

      Office space available for rent in GRND Penn Plaza.
      312 5Th Ave, New York, NY 10001
      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.
    234 5th Ave
    New York, NY 10001-7607
    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.
    Sign Up Successful!
    You now have access to more from Realmo!