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

    235 Sullivan St New York, NY 10012-4805

    • Residential income homes
    • 4,163 SF
    • 0.02 lot acres
    OFF-MARKET
    Last Sale
    Nov 29, 2022
    $4,525,000
    Value Estimations
    $3,685,000
    Show details
    Cap Rate Potential
    3.5%
    Residential income homes
    Location Intelligence
    Property ID
    US63-2053504
    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

    • Top Thai Greenwich / Restaurant

    Property Details for 235 Sullivan St

    Year built
    1900
    Lot size
    0.02 lot acres
    Property size
    4,163 SF
    Zone code
    R7-2
    Property type
    Residential income homes
    Property subtype
    Serviced apartments
    APN
    00539-0013
    APU
    5390013

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,715,000
      ML approach
      $3,645,000

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $2,255,000
      Current use
      COMMERCIAL (GENERAL)
      $4,270,000
      Change: +90% Conversion: Moderate
      WAREHOUSE, STORAGE
      $3,400,000
      Change: +51% Conversion: Difficult
      OFFICE BUILDING
      $2,660,000
      Change: +18% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9994
    Latitude
    40.7298
    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
    $55,531
    $87,162
    $357,017
    $444,179
    -
    $677,000
    $2,773,000
    $3,450,000

    Comparable in this City

    • Value Estimation
      $2,525,000
      9,525 SF

      210 Sullivan St

      BOARDING/ROOMING HOUSE • 9,525 SF
      210 Sullivan St, New York, NY 10012-4823
      View Details
    • Value Estimation
      $3,410,000
      11,775 SF

      19 Cleveland Pl

      BOARDING/ROOMING HOUSE • 11,775 SF
      19 Cleveland Pl, New York, NY 10012-4053
      View Details
    • Value Estimation
      $2,745,000
      9,000 SF

      111 Sullivan St

      BOARDING/ROOMING HOUSE • 9,000 SF
      111 Sullivan St, New York, NY 10012-3673
      View Details
    • Value Estimation
      $1,900,000
      7,987 SF

      24 Prince St

      BOARDING/ROOMING HOUSE • 7,987 SF
      24 Prince St, New York, NY 10012-3531
      View Details
    • Value Estimation
      $9,020,000
      26,625 SF

      224 Sullivan St

      BOARDING/ROOMING HOUSE • 26,625 SF
      224 Sullivan St, New York, NY 10012-1356
      View Details
    • Value Estimation
      $2,545,000
      12,385 SF

      338-340 Bowery

      BOARDING/ROOMING HOUSE • 12,385 SF
      338-340 Bowery, New York, NY 10012
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,377 SF

      69 Macdougal St

      Multifamily properties • 3,377 SF
      69 Macdougal St, New York, NY 10012
      View Details
    • Contact for pricing
      39,020 SF

      Nolita Multifamily Portfolio

      Prime Nolita location, 40 units, high ROI.
      260 Elizabeth St, New York, NY 10012
      View Details
    • $3,995,000

      Residential Property in New York

      Residential property for sale in New York, NY.
      55 Prince St, New York, NY 10012
      View Details
    • $2,295,000

      LaGuardia Place Multifamily Opportunity

      Multifamily property for sale in New York, NY.
      520 Laguardia Pl, New York, NY 10012
      View Details
    • $3,500,000

      SoHo Loft with Private Roof

      Top-floor loft with 2,175 SF private roof deck.
      165 Spring St, New York, NY 10012
      View Details
    • $6,000,000

      Residential Property in New York

      Residential property for sale in New York, NY 10012.
      519 Broadway Phc, New York, NY 10012
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,383 SF

      SoHo Parking Lot For Lease

      Prime SoHo location, 27 parking spaces.
      81 Mercer St, New York, NY 10012
      View Details
    • $40 SF/Yr
      600 SF

      Prime Soho Retail Space

      600 SF Basement Retail, Flexible Lease
      61 Sullivan St, New York, NY 10012
      View Details
    • $216,000
      650 SF

      Prime Nolita Retail Space

      Elizabeth St. Boutique Retail Opportunity
      237 Elizabeth St, New York, NY 10012
      View Details
    • $51 SF/Yr
      15,000 SF

      SoHo Office Space: Iconic Location

      15,000 SF, Flexible Lease Terms
      69 Mercer St, New York, NY 10012
      View Details
    • $330 /Mo
      400 SF

      Prime Nolita Retail Space

      400 sq ft, Mott St, Immediate Possession
      0 Mott St, New York, NY 10012
      View Details
    • Contact for pricing
      950 SF

      SoHo Retail Space Available

      Retail space in SoHo townhouse, dry use only.
      68 Prince St, New York, NY 10012
      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.
    235 Sullivan St
    New York, NY 10012-4805
    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.