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

    241 20th St New York, NY 10011-3670

    • Investment properties
    • 4,450 SF
    • 0.04 lot acres
    OFF-MARKET
    Last Sale
    Nov 10, 2022
    $4,800,000
    Value Estimations
    $4,490,000
    Show details
    Cap Rate Potential
    3.5%
    Investment properties
    Location Intelligence
    Property ID
    US63-1221881
    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

    • Investment properties

    Property Details for 241 20th St

    Year built
    1920
    Lot size
    0.04 lot acres
    Property size
    4,450 SF
    Zone code
    R8B
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    00770-0018
    APU
    7700018

    Description

    This exceptional mixed-use building at 241 West 20th Street in New York City's vibrant Chelsea neighborhood presents a compelling investment opportunity. The four-story property boasts a total of 4,450 square feet, strategically situated between 7th and 8th Avenues, offering 23 feet of street frontage. The building's composition includes three residential apartments and one ground-floor retail space, all currently occupied, generating robust and consistent cash flow. Each residential unit has undergone a recent renovation, showcasing high-end finishes. The property benefits from its central location, providing immediate access to a wealth of dining, entertainment, and shopping options. Furthermore, its proximity to multiple subway lines (A, C, E, and L) ensures excellent accessibility. The building enjoys the protection of Tax Class 2A, offering further financial advantages. This is a rare chance to acquire a fully occupied, renovated mixed-use property in one of Manhattan's most desirable neighborhoods. The strong tenant occupancy and prime location make this an ideal investment for those seeking stable returns and significant appreciation potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,095,000
      ML approach
      $4,275,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,540,000
      Market price range: $2.68M - $9.42M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $5,195,000
      Current 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
    -73.9986
    Latitude
    40.7431
    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
    $74,571
    $237,520
    $358,951
    $596,471
    -
    $1,370,000
    $2,070,400
    $3,440,400

    Comparable in this City

    • Value Estimation
      $1,615,000
      8,400 SF

      205 14th St

      OFFICE/RESIDENTIAL (MIXED USE) • 8,400 SF
      205 14th St, New York, NY 10011-7100
      View Details
    • Value Estimation
      $2,580,000
      5,807 SF

      14 19th St

      OFFICE/RESIDENTIAL (MIXED USE) • 5,807 SF
      14 19th St, New York, NY 10011-4226
      View Details
    • Value Estimation by Request
      4,800 SF

      135 13th St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,800 SF
      135 13th St, New York, NY 10011-7830
      View Details
    • Value Estimation by Request
      2,343 SF

      113 10th St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,343 SF
      113 10th St, New York, NY 10011-8345
      View Details
    • Value Estimation
      $2,295,000
      3,795 SF

      205 7th Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,795 SF
      205 7th Ave, New York, NY 10011-1852
      View Details
    • Value Estimation
      $915,000
      4,424 SF

      150 9th Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 4,424 SF
      150 9th Ave, New York, NY 10011-4904
      View Details

    Similar Nearby for Sale

    • $5,250,000
      2,850 SF

      Chelsea Mixed-Use Investment

      Prime Chelsea location, high NOI, value-add potential.
      94 8Th Ave, New York, NY 10011
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    • Contact for pricing
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      220 16Th St

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      Prime NYC mixed-use, 11,550 SF
      131 14Th St, New York, NY 10011
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    • $2,500,000
      1,724 SF

      Chelsea Retail Condo - $2.5M

      1,724 SF Retail Condo, 100% Occupied
      124 18Th St, New York, NY 10011
      View Details
    • $699,000

      Charming Chelsea Garden Apartment

      Private entrance, renovated kitchen, and in-unit laundry in vibrant Chelsea.
      162 9Th Ave, New York City, NY 10011
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    • $575,000

      Chelsea One-Bedroom Apartment with Charm

      Charming Chelsea one-bedroom with modern finishes and desirable location.
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    Similar Nearby for Lease

    • $67 SF/Yr
      2,325 SF

      19th St. Full Floor Loft Office

      Stunning full-floor loft office, 2,325 sq ft.
      137 19Th St, New York, NY 10011
      View Details
    • $66 SF/Yr
      900 SF

      Prime Chelsea Retail Space

      900 SF Turnkey Hair Salon, Great Location
      0 16Th St, New York, NY 10011
      View Details
    • Contact for pricing
      5,859 SF

      West Village Corner Retail Space

      Prime corner retail space with outdoor seating in West Village.
      87 7Th Ave, New York, NY 10011
      View Details
    • Contact for pricing
      6,900 SF

      Chelsea/Flatiron Loft Office Space

      Full floor office space with sky terrace and city views.
      150 W 22Nd St, New York, NY 10011
      View Details
    • Contact for pricing
      3,600 SF

      Prime West Chelsea Retail Space

      Exceptional retail space in a vibrant, high-traffic Manhattan neighborhood.
      500 W 22Nd St, Manhattan, NY 10011
      View Details
    • Contact for pricing
      8,250 SF

      Flatiron District Office Space

      100,000 sq ft, 12-story loft building near Madison Square Park.
      118 W 22Nd St, New York, NY 10011
      View Details
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    241 20th St
    New York, NY 10011-3670
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    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
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