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    575 W 181St St New York, NY 10033

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    575 W 181St St New York, NY 10033

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    • Investment properties
    • 35,000 SF
    • 0.40 lot acres
    For Lease
    $7,170,000
    View Listing →
    Retail Space Available For Lease For Lease
    $7,170,000

    Retail Space Available For Lease

    Retail space available for lease in New York, NY.

    575 W 181st St, New York, NY 10033
    View Listing
    Property ID
    US63-2693829
    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

    • Matiz Luz A MD / Pediatrician / Medical Clinic
    • Dr. Daria M. Eriksson, MD / Physician
    • Mary Zweighaft, CPNP / Physician
    • Choi Jin M MD / Physician
    • Dr. Denize Da Silva-Siegel, MD / Physician

    Property Details for 575 W 181St St

    Year built
    1959
    Lot size
    0.40 lot acres
    Property size
    35,000 SF
    Zone code
    C4-4
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    02154-0001
    APU
    21540001

    Description

    This exceptional retail property, located at 575 West 181st Street in New York, NY 10033, offers a unique leasing opportunity in New York County. The entire 12,829 square foot building is currently vacant and available for lease, presenting a blank canvas for a wide range of commercial ventures. The space is highly flexible, with a minimum divisible unit of 283 square feet, allowing for customization to suit various business needs. Whether you require a small boutique space or a large-scale retail operation, this property can accommodate your requirements. The property's location in the vibrant New York City market provides excellent visibility and accessibility, ensuring high foot traffic and potential for significant business growth. The address, 575 West 181st Street, is easily accessible and situated within a dynamic commercial area. This is a rare chance to secure a substantial retail space in a prime New York City location. The entire 12,829 square feet can be leased contiguously, providing an unparalleled opportunity for a single tenant to establish a significant presence. The property is classified as a multi-tenant building, although currently, the entire space is available. Serious inquiries are encouraged to explore this exceptional leasing opportunity. Contact us today to schedule a viewing and discuss your business needs.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $7,635,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9331
    Latitude
    40.8493
    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
    $716,533
    $1,080,000
    $5,741,190
    $6,821,190
    -
    $2,400,000
    $12,633,000
    $15,033,000

    Comparable in this City

    • Value Estimation
      $3,555,000
      17,200 SF

      564-566 181st St

      STORE/OFFICE (MIXED USE) • 17,200 SF
      564-566 181st St, New York, NY 10033
      View Details
    • Value Estimation
      $10,165,000
      49,450 SF

      617 181st St

      STORE/OFFICE (MIXED USE) • 49,450 SF
      617 181st St, New York, NY 10033-4937
      View Details
    • Value Estimation
      $2,915,000
      14,000 SF

      571-573 181st St

      STORE/OFFICE (MIXED USE) • 14,000 SF
      571-573 181st St, New York, NY 10033
      View Details
    • Value Estimation
      $4,585,000
      22,295 SF

      605-609 181st St

      STORE/OFFICE (MIXED USE) • 22,295 SF
      605-609 181st St, New York, NY 10033
      View Details
    • Value Estimation
      $2,700,000
      13,000 SF

      611-615 181st St

      STORE/OFFICE (MIXED USE) • 13,000 SF
      611-615 181st St, New York, NY 10033
      View Details
    • Value Estimation
      $970,000
      53,175 SF

      600 181st St, Unit 614

      STORE/OFFICE (MIXED USE) • 53,175 SF
      600 181st St, New York, NY 10033-4912
      View Details

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      Retail Space in Revamped Area

      Retail spaces available in a high-traffic location, signage included.
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      Retail Space in Bustling Neighborhood

      Retail space in prime location with high foot traffic.
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      Prime corner retail space in high-traffic Washington Heights.
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      Washington Heights Office Retail Space

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    View Listing
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    New York, NY 10033
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    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.

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