Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    570 56Th St West New York, NJ 07093
    Back to Search
    Property profile & analytics

    570 56Th St West New York, NJ 07093

    View on Map
    • Apartment buildings
    • 4,655 SF
    Off-Market
    Property ID
    US59-1368030
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 570 56Th St

    Property size
    4,655 SF
    Property type
    Apartment buildings

    Description

    Three-story brick apartment building featuring box-style apartments with front and back layouts. Constructed with solid brick, it is located just 1/2 mile from the Light Rail Station. There is a 40% upside in rents.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    West New York
    County
    Hudson
    State
    New Jersey
    Longitude
    -74.020326
    Latitude
    40.787582

    Comparable in this City

    • $925,000

      Mixed-Use Property in West New York

      Mixed-use property with retail, apartments, and indoor garages.
      6200 Kennedy Blvd, West New York, NJ 07093
      View Details
    • $1,400,000
      5,115 SF

      West New York Multifamily Investment

      10-unit building in high-demand rental corridor with income potential.
      123 63Rd St, West New York, NJ 07093
      View Details
    • $1,600,000
      5,096 SF

      Cash Flowing Multifamily Investment Property

      Fully occupied 8-unit multifamily near Bergenline Ave, West New York.
      521 60Th St, West New York, NJ 07093
      View Details
    • $1,550,000

      West New York Mixed-Use Investment

      Mixed-use property with commercial space and residential units.
      6501 Park Ave, West New York, NJ 07093
      View Details
    • $1,400,000

      West New York Multifamily Investment

      10-unit building in high-demand rental corridor with income potential.
      123 63Rd St, West New York, NJ 07093
      View Details
    • $2,500,000

      Income-Generating Multifamily Property For Sale

      Well-maintained, fully leased multifamily property in high-traffic area.
      6104-6108 Bergenline Ave, West New York, NJ 07093
      View Details

    Similar Nearby for Sale

    • $649,000

      West New York Investment Property

      Warehouse with two apartments in a great location.
      586 54Th St, West New York, NJ 07093
      View Details
    • $1,947,500

      West New York Multifamily Investment

      Two contiguous buildings with 10 apartments and one retail unit.
      119 59Th St, West New York, NJ 07093
      View Details
    • $1,400,000

      West New York Multifamily Investment

      10-unit building in high-demand rental corridor with income potential.
      123 63Rd St, West New York, NJ 07093
      View Details
    • $1,888,000

      West New York Multifamily Investment

      Five-unit property in West New York with parking and yard.
      446 66Th St, West New York, NJ 07093
      View Details
    • $2,500,000

      Income-Generating Property on Bergenline Avenue

      Well-maintained, fully leased property in high-traffic area with recent upgrades.
      6104-6108 Bergenline Ave, West New York, NJ 07093
      View Details
    • New
      $2,600,000

      Mixed-Use Investment Opportunity in NJ

      9-family building with fully rented grocery store in West New York.
      5901-07 Madison St, West New York, NJ 07093
      View Details

    Similar Nearby for Lease

    • $6,500 /Mo

      Prime Corner Retail/Office Space

      Remodeled corner property in high-traffic area, ideal for retail/office.
      5552 Bergenline Ave, West New York, NJ 07093
      View Details
    • $6,000 /Mo

      West New York Retail Space

      Divisible 10,000 SF corner property with parking and high ceilings.
      5620 Kennedy Blvd, West New York, NJ 07093
      View Details
    • $4,200 /Mo

      Renovated Two-Level Commercial Space

      3,000 sq ft renovated space in West New York.
      6029 Hudson Ave, West New York, NJ 07093
      View Details
    • $6,250 /Mo

      Prime Retail on Bergenline Avenue

      New retail space on Bergenline Avenue with high foot traffic.
      5222 Bergenline Ave, West New York, NJ 07093
      View Details
    • $3,500 /Mo
      1,200 SF

      West New York Medical Office

      First-floor medical suite with multiple treatment rooms for rent.
      323 60Th St, West New York, NJ 07093
      View Details
    • $1,700 /Mo

      Retail Space on JFK Boulevard

      Retail space for rent in the heart of West New York.
      6200 Kennedy Blvd, West New York, NJ 07093
      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.
    570 56Th St
    West New York, NJ 07093
    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

    Thank You for Inquiry
    570 56Th St, West New York, NJ, 07093
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!