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

    251 33rd St New York, NY 10016-4804

    • Office buildings
    • 14,700 SF
    • 0.06 lot acres
    OFF-MARKET
    Value Estimations
    $4,175,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2608924
    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

    • Test Provider / Dentist
    • Hochman Joseph MD / Obstetrician-Gynecologist
    • Nachtigall Richard H MD / Internist
    • Kelly Janine S MD / Geriatrician
    • Manhattan Ob/gyn / Gynecologist

    Property Details for 251 33rd St

    Year built
    1920
    Lot size
    0.06 lot acres
    Property size
    14,700 SF
    Zone code
    C18A
    Property type
    Office buildings
    APN
    00914-0025
    APU
    9140025

    Description

    This exceptional retail property at 251 East 33rd Street in New York, NY 10016 offers three available commercial spaces totaling 8,638 square feet. Located in New York County, this multi-tenant building presents a unique opportunity for businesses seeking high-visibility locations in a vibrant urban setting. Each suite offers a minimum of 2,720 square feet, with the largest contiguous space measuring 2,959 square feet. The entire building is currently vacant, providing a blank canvas for a new tenant or a group of synergistic businesses. The property features convenient elevator access, ensuring easy movement of goods and personnel. This prime location provides excellent street visibility and accessibility, making it ideal for a variety of retail ventures. The address, 251 East 33rd Street, is easily identifiable and situated within a bustling commercial district, offering high foot traffic and potential for significant customer engagement. This is a rare opportunity to secure a substantial retail presence in a highly desirable New York City location. The building's size and layout offer flexibility for various business models, from single-occupancy to multi-tenant configurations. Don't miss this chance to establish your business in this dynamic and thriving area. Contact us today to learn more about leasing options and explore the possibilities.

    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
    -73.9767
    Latitude
    40.7445
    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
    $182,940
    $450,000
    $1,277,151
    $1,727,151
    -
    $1,000,000
    $3,208,000
    $4,208,000

    Comparable in this City

    • Value Estimation
      $4,510,000
      442,042 SF

      10 40th St Fl, Unit 14

      OFFICE BUILDING (MULTI-STORY) • 442,042 SF
      10 40th St Fl, New York, NY 10016-0212
      View Details
    • Value Estimation by Request
      444,716 SF

      259-263 5th Ave

      OFFICE BUILDING (MULTI-STORY) • 444,716 SF
      259-263 5th Ave, New York, NY 10016
      View Details
    • Value Estimation
      $2,820,000
      9,136 SF

      379 5th Ave

      OFFICE BUILDING (MULTI-STORY) • 9,136 SF
      379 5th Ave, New York, NY 10016-3324
      View Details
    • Value Estimation
      $1,390,000
      98,940 SF

      656-662 1st Ave

      OFFICE BUILDING (MULTI-STORY) • 98,940 SF
      656-662 1st Ave, New York, NY 10016
      View Details
    • Value Estimation
      $7,610,000
      654,168 SF

      99 Park Ave

      OFFICE BUILDING (MULTI-STORY) • 654,168 SF
      99 Park Ave, New York, NY 10016-1601
      View Details
    • Value Estimation
      $2,095,000
      7,500 SF

      144 39th St

      OFFICE BUILDING (MULTI-STORY) • 7,500 SF
      144 39th St, New York, NY 10016-0914
      View Details

    Similar Nearby for Sale

    • $770,000
      770 SF

      Office Space on Park Avenue

      Office building with 770 square feet of space.
      580 Park Ave, New York, NY 10016
      View Details
    • $1,185,000
      1,185 SF

      Prime Murray Hill Medical Office

      1,185 SF Medical Condo, $1M+
      333 34Th St, New York, NY 10016
      View Details
    • $4,999,950
      0.04 Acres

      Manhattan Multifamily Building Near Grand Central

      Multi-family property near Grand Central Terminal with redevelopment potential.
      115 E 39Th St, Manhattan, NY 10016
      View Details
    • $10,000,000
      17,500 SF

      Chelsea Mixed-Use Building for Sale

      Seven-story mixed-use building in Chelsea with retail and office space.
      242 W 27Th St, New York, NY 10016
      View Details
    • $500,000

      Park Avenue Professional Office Suite

      Professional suite with low maintenance in a convenient location.
      67 Park Ave, New York, NY 10016
      View Details
    • $275,000
      725 SF

      Upper East Side Medical Office

      Ground floor medical office in pre-war co-op building.
      910 Park Ave, New York, NY 10016
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,441 SF

      Murray Hill Office Building For Rent

      Six-story office building in Murray Hill neighborhood with communal outdoor space.
      29 E 31St St, New York, NY 10016
      View Details
    • Contact for pricing
      2,182 SF

      Midtown Manhattan Office Space Available

      Leasable office building in Midtown Manhattan's Chelsea neighborhood.
      245 W 29Th St, New York, NY 10016
      View Details
    • Contact for pricing
      19,258 SF

      Manhattan Office and Retail Building

      22-story Class B office and retail building in Murray Hill.
      10-16 E 34Th St, New York, NY 10016
      View Details
    • Contact for pricing
      17,959 SF

      Office Space on Park Avenue

      21-story office building with 17,959 SF available for rent.
      237 Park Ave, New York, NY 10016
      View Details
    • Contact for pricing
      54,100 SF

      Class A Office Building

      15-story Class-A office building in Madison Square Park.
      63 Madison Ave, New York, NY 10016
      View Details
    • Contact for pricing
      7,629 SF

      Manhattan Office Space for Lease

      Prime office space in NoMad neighborhood with excellent transportation access.
      443 Park Ave S, New York, NY 10016
      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.
    251 33rd St
    New York, NY 10016-4804
    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.