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

    555 23rd Stc2 New York, NY 10011-1011

    • Parking lots & garages
    • 14,303 SF
    OFF-MARKET
    Value Estimations
    $4,915,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3639651
    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

    • Gift of Gab Resources / Speech Pathologist
    • Marcey Brownstein Catering / Caterer
    • Alliance Corrugated Box / Packaging Supply Store
    • Sidekick Events / Event Planner
    • Dr. Richard Zelhof / Practitioner Service Location / Psychologist

    Property Details for 555 23rd Stc2

    Year built
    2005
    Property size
    14,303 SF
    Zone code
    C63A
    Property type
    Parking lots & garages
    APN
    00695-1302
    APU
    6951302

    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
    -74.0059
    Latitude
    40.7489
    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
    $121,313
    $109,474
    $1,035,850
    $1,145,324
    -
    $243,275
    $2,458,000
    $2,701,275

    Comparable in this City

    • Value Estimation
      $8,785,000
      25,631 SF

      515 18th Stgar

      PARKING GARAGE, PARKING STRUCTURE • 25,631 SF
      515 18th Stgar, New York, NY 10011-2842
      View Details
    • Value Estimation by Request
      4,600 SF

      165 10th Ave

      PARKING LOT • 4,600 SF
      165 10th Ave, New York, NY 10011-4729
      View Details
    • Value Estimation by Request
      9,875 SF

      507 21st St

      PARKING LOT • 9,875 SF
      507 21st St, New York, NY 10011-2811
      View Details
    • Value Estimation
      $2,800,000
      297 SF

      55 17th Stp1

      PARKING GARAGE, PARKING STRUCTURE • 297 SF
      55 17th Stp1, New York, NY 10011-5513
      View Details
    • Value Estimation
      $8,695,000
      10,276 SF

      133 22nd St Frnt, Unit 1

      PARKING GARAGE, PARKING STRUCTURE • 10,276 SF
      133 22nd St Frnt, New York, NY 10011-2709
      View Details
    • Value Estimation by Request
      199 SF

      134-148 7th Ave, Unit 11

      PARKING GARAGE, PARKING STRUCTURE • 199 SF
      134-148 7th Ave, New York, NY 10011
      View Details

    Similar Nearby for Sale

    • $2,000,000

      Puyallup Lot with Shop Building

      1.83-acre lot with 3,000 SF shop building for sale/lease.
      10011 144Th St E, New York, NY 10011
      View Details
    • Contact for pricing
      6,250 SF

      220 16Th St

      Multifamily properties • 6,250 SF
      220 16Th St, New York, NY 10011
      View Details
    • $4,500,000
      4,200 SF

      Chelsea Retail Condo: Prime Location

      4,200 SF Retail Condo, Owner/User
      140 22Nd St, New York, NY 10011
      View Details
    • $163,000
      1,300 SF

      Turnkey Restaurant Ready for Operation

      Turnkey restaurant with well-equipped kitchen and captivating atmosphere.
      49-61 E 8Th St, New York, NY 10011
      View Details
    • $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
      View Details
    • Contact for pricing

      Prime Greenwich Village Retail Condominiums

      Exceptional retail and community space in the heart of Greenwich Village.
      350-354 6Th Ave, New York, NY 10011
      View Details

    Similar Nearby for Lease

    • $192,000
      8,200 SF

      Chelsea Retail Space: Prime Location

      8,200 SF Retail Space Available in Chelsea
      143 19Th St, New York, NY 10011
      View Details
    • Contact for pricing
      1,200 SF

      Prime NYC Warehouse Space

      1,200 SF Warehouse - Manhattan
      743 6Th Ave, New York, NY 10011
      View Details
    • Contact for pricing
      2,150 SF

      Prime Manhattan Retail Space

      Flatiron District, 2,150 SF, Single Tenant
      7 19Th St, New York, NY 10011
      View Details
    • Contact for pricing
      800 SF

      Bar/Lounge/Speak-Easy Opportunity

      Prime location with outdoor green-space and high foot traffic.
      191-197 7Th Ave, New York, NY 10011
      View Details
    • Contact for pricing
      1,458 SF

      West Chelsea Corner Retail Space

      Corner retail space in West Chelsea near Highline entrance.
      148-150 10Th Ave, New York, NY 10011
      View Details
    • Contact for pricing
      5,163 SF

      Renovated Retail Space Near Apple

      Recently renovated retail space adjacent to Apple store.
      47 9Th Ave, New York, NY 10011
      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.
    555 23rd Stc2
    New York, NY 10011-1011
    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.