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

    28 26th St New York, NY 10010-2024

    • Apartment buildings
    • 14,217 SF
    • 0.06 lot acres
    OFF-MARKET
    Last Sale
    Oct 30, 2024
    $9,750,000
    Value Estimations
    $8,495,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3859646
    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

    • Cannabis Dispensary / (Bike/Boat/Book/etc) Store

    Property Details for 28 26th St

    Year built
    1925
    Lot size
    0.06 lot acres
    Property size
    14,217 SF
    Zone code
    M1-6
    Property type
    Apartment buildings
    APN
    00827-0063
    APU
    8270063

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $7,415,000
      6.5%
      $6,845,000
      7%
      $6,355,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,640,000
      Market price range: $3.48M - $14.2M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $7,695,000
      Current use
      WAREHOUSE, STORAGE
      $11,620,000
      Change: +51% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $10,300,000
      Change: +34% Conversion: Moderate
      OFFICE BUILDING
      $9,080,000
      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
    -73.9903
    Latitude
    40.7441
    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
    $156,681
    $286,200
    $1,434,090
    $1,720,290
    -
    $636,000
    $2,149,000
    $2,785,000

    Comparable in this City

    • Value Estimation
      $1,090,000
      67,048 SF

      320 22nd St, Unit 330

      APARTMENT HOUSE (5+ UNITS) • 67,048 SF
      320 22nd St, New York, NY 10010-5703
      View Details
    • Value Estimation
      $4,510,000
      16,782 SF

      137-139 26th St

      APARTMENT HOUSE (5+ UNITS) • 16,782 SF
      137-139 26th St, New York, NY 10010
      View Details
    • Value Estimation
      $8,000,000
      21,356 SF

      305 21st St

      APARTMENT HOUSE (5+ UNITS) • 21,356 SF
      305 21st St, New York, NY 10010-6507
      View Details
    • Value Estimation
      $14,790,000
      57,800 SF

      214 24th St

      APARTMENT HOUSE (5+ UNITS) • 57,800 SF
      214 24th St, New York, NY 10010-3900
      View Details
    • Value Estimation
      $4,900,000
      16,841 SF

      226 25th St

      APARTMENT HOUSE (5+ UNITS) • 16,841 SF
      226 25th St, New York, NY 10010-3150
      View Details
    • Value Estimation
      $4,210,000
      15,774 SF

      238-240 25th St

      APARTMENT HOUSE (5+ UNITS) • 15,774 SF
      238-240 25th St, New York, NY 10010
      View Details

    Similar Nearby for Sale

    • $560,000

      Apartment Building in New York

      Apartment building for sale in New York, NY.
      301 E 22Nd St, New York, NY 10010
      View Details
    • $529,000

      Kips Bay Co-op Apartment

      One-bedroom co-op near Madison Square Park with unlimited subletting.
      61 Lexington Ave, New York, NY 10010
      View Details
    • $1,800,000

      Apartment Building For Sale

      Apartment building for sale in New York, NY 10010.
      21 E 22Nd St, New York, NY 10010
      View Details
    • $425,000

      Apartment Building for Sale

      Apartment building for sale in New York, NY.
      235 E 22Nd St, New York, NY 10010
      View Details
    • $1,920,000

      Luxurious Live-Work Condo in NYC

      Two-bedroom condo designed for maximizing life and work.
      250 E 25Th St, New York City, NY 10010
      View Details
    • $2,395,000

      Residential Property in New York

      Residential property for sale in New York, NY.
      30 E 21St St, New York, NY 10010
      View Details

    Similar Nearby for Lease

    • $5,500 /Mo

      Rare South Facing Loft

      Unique studio loft in Flatiron, lots of light.
      254 Park Ave S, New York City, NY 10010
      View Details
    • $2,350 /Mo

      Inviting 1-Bedroom Upper Unit

      Bright 1-bedroom unit near shops, restaurants, and public transportation.
      30 Mckinley Ave, Franklin Square, NY 10010
      View Details
    • $200 SF/Yr
      14,000 SF

      Gramercy Park Restaurant - Turnkey

      Historic 14,000 SF Restaurant, Prime Location
      280 Park Avenue, New York, NY 10010
      View Details
    • $4,500 /Mo
      2,300 SF

      Loft with Madison Square Park Views

      Rare loft space overlooking Madison Square Park in New York.
      10 E 23Rd St, New York, NY 10010
      View Details
    • $12,100 /Mo
      3,300 SF

      Creative Office Space Available

      Move-in ready office with conference room, open area, and pantry.
      200 E 23Rd St, New York, NY 10010
      View Details
    • $42 SF/Yr
      2,300 SF

      Unique Creative Space Near Madison Square

      Historic building with exposed brick, high ceilings, and hardwood floors.
      333 Park Ave S, New York, NY 10010
      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.
    28 26th St
    New York, NY 10010-2024
    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.