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

    56 7th S Ave New York, NY 10014-4001

    • Retail space
    • 113 SF
    • 0.00 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2014594
    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

    • Nadalini Francesca A / Psychologist
    • Shelzy's Designs / Gift Shop / Service Establishment
    • Belsey & Mahla Architects / Architect
    • Bortner Seymour R MD / Psychiatrist

    Property Details for 56 7th S Ave

    Year built
    1910
    Lot size
    0.00 lot acres
    Property size
    113 SF
    Zone code
    C2-6
    Property type
    Retail space
    APN
    00587-0035
    APU
    5870035

    Description

    This exceptional 1,205-square-foot retail space is ideally situated at 56 7th Avenue in New York City's vibrant West Village/West Chelsea neighborhood. Boasting 42 feet of frontage along 7th Avenue, this single-tenant property offers unparalleled visibility and accessibility. Located at the southwest corner of 14th Street and 7th Avenue, it benefits from its proximity to the iconic Candela Tower, a 158-unit residential building, ensuring a high volume of foot traffic and potential clientele. The space is currently vacant, presenting a unique opportunity for a variety of retail businesses. The property is classified as commercial retail within New York County, offering a strong foundation for a successful venture. With its prominent location and substantial square footage, this space is perfect for businesses seeking high visibility and a thriving customer base. All non-vented retail users are welcome to consider this exceptional opportunity. The property is located in zip code 10011. This is a single-tenant space, offering a streamlined and efficient business environment. The total building square footage is 1,205 square feet, all of which is currently available for lease.

    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
    -74.0042
    Latitude
    40.7315
    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
    $4,156
    $20,700
    $18,540
    $39,240
    -
    $46,000
    $49,000
    $95,000

    Comparable in this City

    • Value Estimation
      $2,485,000
      15,434 SF

      837 Washington St, Unit RU1

      RETAIL STORES (PERSONAL SERVICES) • 15,434 SF
      837 Washington St, New York, NY 10014-1307
      View Details
    • Value Estimation
      $4,675,000
      2,442 SF

      388-390 Ww St

      RETAIL STORES (PERSONAL SERVICES) • 2,442 SF
      388-390 Ww St, New York, NY 10014
      View Details
    • Value Estimation
      $4,315,000
      3,824 SF

      10 Christopher St, Unit COMM

      RETAIL STORES (PERSONAL SERVICES) • 3,824 SF
      10 Christopher St, New York, NY 10014-7026
      View Details
    • Value Estimation
      $11,850,000
      10,442 SF

      677 Washington St, Unit COMM

      RETAIL STORES (PERSONAL SERVICES) • 10,442 SF
      677 Washington St, New York, NY 10014-2566
      View Details
    • Value Estimation
      $540,000
      533 SF

      259 4th St Ste

      RETAIL STORES (PERSONAL SERVICES) • 533 SF
      259 4th St Ste, New York, NY 10014-3205
      View Details
    • Value Estimation
      $41,945,000
      15,288 SF

      415 13th St1n

      RETAIL STORES (PERSONAL SERVICES) • 15,288 SF
      415 13th St1n, New York, NY 10014-1109
      View Details

    Similar Nearby for Sale

    • $5,400,000
      2,390 SF

      West Village Mixed-Use Gem

      Prime West Village location, owner-user opportunity.
      15 8Th Ave, New York, NY 10014
      View Details
    • $7,500,000

      Greenwich Village Corner Property

      Vacant corner property in Greenwich Village with development potential.
      21 Greenwich Ave, New York, NY 10014
      View Details
    • New
      $4,995,000
      4,875 SF

      West Houston Commercial Building Opportunity

      Turn-of-the-century commercial building in prime West Houston location.
      205 West Houston St, New York, NY 10014
      View Details
    • $3,400,000
      2,850 SF

      West Village Retail Co-op

      2,000 SF ground-floor space with 850 SF basement.
      9 Jones St, New York, NY 10014
      View Details
    • $2,360,000
      2,478 SF

      West Village Restaurant - $2.36M

      Prime NYC restaurant space, vacant, high NOI.
      306 13Th St, New York, NY 10014
      View Details
    • $25,000,000
      25,517 SF

      Prime NYC Restaurant Opportunity

      Iconic Greenwich Village Location, High NOI
      387-401 Ave, New York, NY 10014
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      540 SF

      Turn-Key Retail Space Available

      Retail space available in New York, NY.
      9 Christopher St, New York, NY 10014
      View Details
    • Contact for pricing
      900 SF

      West Village Retail Space Available

      900 SF retail space in the heart of West Village.
      137 Perry St, New York, NY 10014
      View Details
    • Contact for pricing
      4,308 SF

      Prime Retail Space Near Highline

      Retail space with high ceilings and excellent visibility.
      450 W 14Th St, New York, NY 10014
      View Details
    • $4,000 /Mo
      450 SF

      East 14th Street Retail Space

      Retail space available on East 14th Street.
      338 E 14Th St, New York, NY 10014
      View Details
    • Contact for pricing
      414 SF

      Retail Space Near Jackson Square

      Retail space for rent in a high-income, dense area.
      115 Greenwich Ave, New York, NY 10014
      View Details
    • Contact for pricing
      2,100 SF

      West Village Stand-Alone Retail Building

      Stand-alone retail building in West Village with high ceilings.
      171 Christopher St, New York, NY 10014
      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.
    56 7th S Ave
    New York, NY 10014-4001
    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.