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

    453 48Th St New York, NY 10036

    • Apartment buildings
    • 6,135 SF
    • 0.04 lot acres
    For Lease
    View listing
    Last Sale
    Oct 14, 2022
    Value Estimations
    $225,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3334742
    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

    • Peter Scalera Construction Services / Construction Company

    Property Details for 453 48Th St

    Year built
    1930
    Lot size
    0.04 lot acres
    Property size
    6,135 SF
    Zone code
    R8
    Property type
    Apartment buildings
    APN
    01058-0104
    APU
    10580104

    Description

    This exceptional 306-square-foot executive office space is ideally located at 453 West 48th Street in New York City's vibrant Midtown West. The property is a single-tenant space, perfect for a small business or individual professional seeking a prestigious address. The suite is currently vacant and ready for immediate occupancy, offering flexibility for customization to meet your specific needs. Classified as both retail and office space, this versatile property presents a unique opportunity in a high-demand area. Its location in New York County provides easy access to major transportation hubs, including subway lines and bus routes, ensuring convenient commutes for employees and clients. The building's total square footage mirrors the available space, indicating a dedicated, self-contained unit. This prime location offers unparalleled visibility and accessibility, making it an attractive option for businesses seeking a strategic presence in the heart of Manhattan. The property's classification as an executive office space suggests a high-quality finish and potentially desirable amenities. This is a rare opportunity to secure a well-situated, fully vacant office space in a highly sought-after New York City location. The 10036 zip code further underscores the property's prime location within a bustling commercial district. This listing presents a unique chance to establish a thriving business in a dynamic and convenient environment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $275,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $169,000
      Market price range: $113k - $534k

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

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9921
    Latitude
    40.7634
    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
    $77,896
    $166,500
    $456,570
    $623,070
    -
    $370,000
    $1,049,000
    $1,419,000

    Comparable in this City

    • Value Estimation
      $345,000
      32,520 SF

      352-356 46th St

      APARTMENT HOUSE (5+ UNITS) • 32,520 SF
      352-356 46th St, New York, NY 10036
      View Details
    • Value Estimation
      $280,000
      52,850 SF

      525-531 47th St

      APARTMENT HOUSE (5+ UNITS) • 52,850 SF
      525-531 47th St, New York, NY 10036
      View Details
    • Value Estimation
      $285,000
      9,855 SF

      447 43rd St

      APARTMENT HOUSE (5+ UNITS) • 9,855 SF
      447 43rd St, New York, NY 10036-5313
      View Details
    • Value Estimation
      $510,000
      21,660 SF

      451-453 44th St

      APARTMENT HOUSE (5+ UNITS) • 21,660 SF
      451-453 44th St, New York, NY 10036
      View Details
    • Value Estimation
      $250,000
      10,008 SF

      414 45th St

      APARTMENT HOUSE (5+ UNITS) • 10,008 SF
      414 45th St, New York, NY 10036-3594
      View Details
    • Value Estimation by Request
      264,451 SF

      546 44th St

      APARTMENT HOUSE (5+ UNITS) • 264,451 SF
      546 44th St, New York, NY 10036-3425
      View Details

    Similar Nearby for Sale

    • $895,000

      Residential Property in New York

      Residential property for sale in New York, NY.
      350 W 48Th St, New York, NY 10036
      View Details
    • $615,000

      Sunlit Alcove Condo Studio

      South-facing condo studio with tenant until 2026.
      516 W 47Th St, New York City, NY 10036
      View Details
    • $429,000

      Midtown Apartment with Exposed Brick

      Affordable co-op in Hell's Kitchen near transportation.
      430 W 46Th St, New York, NY 10036
      View Details
    • $695,000

      Residential Income Property For Sale

      Residential income property available for purchase.
      323 W 43Rd St, New York, NY 10036
      View Details
    • $595,000

      West 45th Street Apartment

      Apartment located on West 45th Street in New York.
      325 W 45Th St, New York, NY 10036
      View Details
    • $2,100,000

      Residential Property in New York

      Residential property for sale in New York, NY.
      521 W 47Th St, New York, NY 10036
      View Details

    Similar Nearby for Lease

    • $2,850 /Mo

      North Facing Studio Apartment

      Studio apartment in Hell's Kitchen near transit and amenities.
      416 W 47Th St, New York City, NY 10036
      View Details
    • $2,200 /Mo

      Residential Unit in New York

      Residential unit for rent in New York, NY.
      600 10Th Ave, New York, NY 10036
      View Details
    • Contact for pricing
      1,938 SF

      Midtown West Retail Space For Lease

      Prime NYC Retail, 1938 sq ft, High Traffic
      566 10Th Ave, New York, NY 10036
      View Details
    • $90 SF/Yr
      1,000 SF

      Hell's Kitchen Retail Space For Lease

      Prime 1,000 SF Retail Space in NYC
      442 45Th St, New York, NY 10036
      View Details
    • Contact for pricing
      3,438 SF

      Fully Built-Out Office Space

      Co-working space with excellent visibility on East 42nd Street.
      145-147 E 42Nd St, New York, NY 10036
      View Details
    • Contact for pricing
      6,570 SF

      Times Square Retail Space Available

      Multi-level retail space in Times Square, perfect for entertainment.
      1568 Broadway, New York, NY 10036
      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.
    453 48Th St
    New York, NY 10036
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.