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

    57 16th St, Unit 1 New York, NY 10003

    • Retail space
    • 6,624 SF
    • 0.11 lot acres
    OFF-MARKET
    Value Estimations
    $5,380,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3343072
    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

    • Body Evolutions Chelsea / Pilates Studio
    • Palette Architecture / Architecture Firm
    • MAGICFITTERS OF NY / Clothing Alteration Service / Curtain Supplier And Maker
    • Chelsea Locksmith & Security Systems / Locksmith / Emergency Locksmith Service

    Property Details for 57 16th St

    Year built
    1920
    Lot size
    0.11 lot acres
    Property size
    6,624 SF
    Zone code
    C62A
    Property type
    Retail space
    APN
    00844-1001
    APU
    8441001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,378,000
      Market price range: $3.52M - $18.5M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $8,710,000
      Current 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
    -73.9918
    Latitude
    40.7372
    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
    $145,766
    $63,296
    $1,312,893
    $1,376,189
    -
    $140,658
    $3,082,000
    $3,222,658

    Comparable in this City

    • Value Estimation by Request
      1,695 SF

      36 Saint Marks Pl

      Individual retail properties • 1,695 SF
      36 Saint Marks Pl, New York, NY 10003
      View Details
    • Value Estimation
      $855,000
      14,709 SF

      63 9th Stretl

      RETAIL STORES (PERSONAL SERVICES) • 14,709 SF
      63 9th Stretl, New York, NY 10003-6302
      View Details
    • Value Estimation by Request
      263 SF

      28 10th Ststor8

      RETAIL STORES (PERSONAL SERVICES) • 263 SF
      28 10th Ststor8, New York, NY 10003-6201
      View Details
    • Value Estimation
      $695,000
      13,321 SF

      380 Lafayette St, Unit 1

      RETAIL STORES (PERSONAL SERVICES) • 13,321 SF
      380 Lafayette St, New York, NY 10003-6933
      View Details
    • Value Estimation
      $5,035,000
      6,332 SF

      380 Lafayette St, Unit 2

      RETAIL STORES (PERSONAL SERVICES) • 6,332 SF
      380 Lafayette St, New York, NY 10003-6933
      View Details
    • Value Estimation
      $4,760,000
      4,100 SF

      120-124 3rd Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,100 SF
      120-124 3rd Ave, New York, NY 10003
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      11,125 SF

      Vacant Retail/Medical/Office Opportunity

      Vacant property suitable for retail, medical, or office use.
      21 E 17Th St, New York, NY 10003
      View Details
    • Contact for pricing
      11,000 SF

      Prime Location Near Union Square

      Located north of Union Square and Broadway pedestrian plaza.
      868 Broadway, New York, NY 10003
      View Details
    • $2,450,000
      3,000 SF

      Greenwich Village Retail Condo

      Prime retail condo in the heart of Greenwich Village.
      29 E 10Th St, New York, NY 10003
      View Details
    • Contact for pricing
      1,920 SF

      Retail Space in Luxury Development

      Retail space at the base of a new residential development.
      118 E 1Th St, New York, NY 10003
      View Details
    • Contact for pricing
      2,313 SF

      Leased Retail Condominium, Greenwich Village

      Leased 2,313 SF retail condominium in Greenwich Village.
      64 University Pl, New York, NY 10003
      View Details
    • $4,400,000
      4,200 SF

      Retail Building in Union Square

      Two-story, 4,200 SF retail building in Union Square.
      3 E 17Th St, New York, NY 10003
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      9,042 SF

      Prime NYC Retail Space Available

      9,042 SF Retail Space, Multiple Units
      38 14Th St, New York, NY 10003
      View Details
    • Contact for pricing
      2,360 SF

      Renovated Retail Space with Deck

      Completely renovated retail space featuring a private landscaped roof deck.
      130 2Nd Ave, New York, NY 10003
      View Details
    • Contact for pricing
      4,200 SF

      Restaurant/Retail Space in Murray Hill

      Vented restaurant/retail space with large outdoor patio in Murray Hill.
      560-576 3Rd Ave, New York, NY 10003
      View Details
    • $10,000 /Mo
      800 SF

      Retail Space on Second Avenue

      Retail space in busy corridor near Union Square.
      201 E 10Th St, New York, NY 10003
      View Details
    • Contact for pricing
      1,000 SF

      Retail Space with Lower Level

      Retail space featuring ground floor and lower level options.
      214 E 9Th St, New York, NY 10003
      View Details
    • Contact for pricing
      1,750 SF

      Retail Space in New Construction

      Corner retail space in new construction with luxury condos.
      261 3Rd Ave, New York, NY 10003
      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.
    57 16th St, Unit 1
    New York, NY 10003
    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.