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

    408 58th St New York, NY 10019-1102

    • Office buildings
    • 3,545 SF
    • 0.04 lot acres
    OFF-MARKET
    Value Estimations
    $740,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2227764
    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

    • Office buildings

    Property Details for 408 58th St

    Year built
    1910
    Lot size
    0.04 lot acres
    Property size
    3,545 SF
    Zone code
    R8
    Property type
    Office buildings
    APN
    01067-0037
    APU
    10670037

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $879,000
      Market price range: $537k - $4.35M

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

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9859
    Latitude
    40.7686
    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
    $22,679
    $131,850
    $82,260
    $214,110
    -
    $293,000
    $196,000
    $489,000

    Comparable in this City

    • Value Estimation by Request
      277,684 SF

      640 5th Ave

      OFFICE BUILDING (MULTI-STORY) • 277,684 SF
      640 5th Ave, New York, NY 10019-6102
      View Details
    • Value Estimation
      $11,095,000
      46,000 SF

      515-517 57th St

      OFFICE BUILDING (MULTI-STORY) • 46,000 SF
      515-517 57th St, New York, NY 10019
      View Details
    • Value Estimation
      $3,110,000
      13,542 SF

      620 52nd St

      OFFICE BUILDING (MULTI-STORY) • 13,542 SF
      620 52nd St, New York, NY 10019-5013
      View Details
    • Value Estimation by Request
      1,596,521 SF

      825-829 8th Ave

      OFFICE BUILDING (MULTI-STORY) • 1,596,521 SF
      825-829 8th Ave, New York, NY 10019
      View Details
    • Value Estimation
      $12,955,000
      260,703 SF

      123 57th St, Unit 141

      OFFICE BUILDING (MULTI-STORY) • 260,703 SF
      123 57th St, New York, NY 10019-2200
      View Details
    • Value Estimation by Request
      21,530 SF

      30 56th St

      OFFICE BUILDING (MULTI-STORY) • 21,530 SF
      30 56th St, New York, NY 10019-3801
      View Details

    Similar Nearby for Sale

    • $7,990,000
      14,514 SF

      Office Building in New York

      Office building with 14,514 square feet of space.
      421-423 W 54Th St, New York, NY 10019
      View Details
    • Contact for pricing
      12,549 SF

      West 54th Street Office Building

      Office building in evolving neighborhood with dining and park access.
      539 W 54Th St, New York, NY 10019
      View Details
    • $21,900,000
      3,317 SF

      Prime Midtown Office Building

      Five-story office building with frontage on East 55th Street.
      57 E 55Th St, New York, NY 10019
      View Details
    • $349,000
      350 SF

      Medical Office Condo For Sale

      Medical office condo with exam and consultation rooms available.
      347-349 E 53Rd St, New York, NY 10019
      View Details
    • $10,000,000
      27,458 SF

      Prime Midtown Medical Office Portfolio

      28 Suites, 27,500 SF, High NOI
      162 56Th St, New York, NY 10019
      View Details
    • $8,653,050
      19,229 SF

      Renovated Office Space with Terraces

      Pre-built office space with terraces, convenient Midtown location.
      825 7Th Ave, New York, NY 10019
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      10,799 SF

      Sixty-Story Office Building For Rent

      60-story office building with 535,219 rentable square feet.
      152 W 57Th St, New York, NY 10019
      View Details
    • Contact for pricing

      Premier Office and Retail Venue

      Office, retail, and parking space with access to amenities.
      1 Columbus Cir, New York, NY 10019
      View Details
    • Contact for pricing

      Class A Office Space

      36-story office building with 533,076 rentable square feet.
      750 7Th Ave, New York, NY 10019
      View Details
    • Contact for pricing

      Midtown Manhattan Office Space Available

      33-story office building in Midtown Manhattan with 471,761 SF.
      75 Rockefeller Plz, New York, NY 10019
      View Details
    • Contact for pricing

      36-Story Office Building For Rent

      327,570 square foot office building available for rent.
      650 5Th Ave, New York, NY 10019
      View Details
    • Contact for pricing
      56,272 SF

      Class A Office Space

      42-story office building with 1,473,950 rentable square feet.
      1285 Avenue Of The Americas, New York, NY 10019
      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.
    408 58th St
    New York, NY 10019-1102
    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.