Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    61 Sullivan St Manhattan, NY 10012

    Property Lookup

    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    61 Sullivan St Manhattan, NY 10012

    View on Map
    • Investment properties
    • 5,474 SF
    • 0.04 lot acres
    For Lease
    $1,605,000
    View Listing →
    Soho Basement Storage Space For Lease
    $1,605,000
    600 SF

    Soho Basement Storage Space

    600 SF basement storage with direct street access in Soho.

    61 Sullivan St, Manhattan, NY 10012
    View Listing
    Property ID
    US63-2086990
    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

    • Investment properties

    Property Details for 61 Sullivan St

    Year built
    1900
    Lot size
    0.04 lot acres
    Property size
    5,474 SF
    Zone code
    M15B
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    00489-0004
    APU
    4890004

    Description

    This exceptional 600-square-foot retail space is ideally situated in the heart of Manhattan's vibrant Soho neighborhood. Located at 61 Sullivan Street, zip code 10012, this single-tenant property offers a unique opportunity for a business seeking a high-visibility location. The space is entirely vacant and ready for immediate occupancy. A significant advantage is the property's configuration as a basement space with convenient street access via cellar doors, making it particularly suitable for storage-intensive businesses or those requiring easy loading and unloading capabilities. The total building square footage is 600 square feet, mirroring the vacant space available. The property is classified as commercial retail within New York County. This presents a rare chance to establish a presence in one of New York City's most sought-after retail districts. Flexible lease terms are available, providing adaptability to suit various business needs and growth plans. The property's location in the bustling Soho area ensures high foot traffic and excellent brand visibility. This is an exceptional opportunity for a business seeking a prime location with convenient access and flexible lease options. The property is located in New York, NY.

    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
    New York
    County
    New York
    State
    New York
    Longitude
    -74.004
    Latitude
    40.7242
    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
    $46,515
    $73,935
    $298,127
    $372,062
    -
    $1,176,000
    $4,742,000
    $5,918,000

    Comparable in this City

    • Value Estimation
      $655,000
      2,142 SF

      59 Sullivan St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,142 SF
      59 Sullivan St, New York, NY 10012-4306
      View Details
    • Value Estimation
      $3,830,000
      11,613 SF

      97 Wooster St

      OFFICE/RESIDENTIAL (MIXED USE) • 11,613 SF
      97 Wooster St, New York, NY 10012-3848
      View Details
    • Value Estimation
      $3,050,000
      10,180 SF

      168 Bowery

      OFFICE/RESIDENTIAL (MIXED USE) • 10,180 SF
      168 Bowery, New York, NY 10012-4601
      View Details
    • Value Estimation
      $2,190,000
      6,581 SF

      147 4th St

      OFFICE/RESIDENTIAL (MIXED USE) • 6,581 SF
      147 4th St, New York, NY 10012-1012
      View Details
    • Value Estimation
      $4,755,000
      16,660 SF

      9 Great Jones St

      OFFICE/RESIDENTIAL (MIXED USE) • 16,660 SF
      9 Great Jones St, New York, NY 10012-1128
      View Details
    • Value Estimation
      $3,650,000
      5,992 SF

      193 Prince St

      OFFICE/RESIDENTIAL (MIXED USE) • 5,992 SF
      193 Prince St, New York, NY 10012-2685
      View Details

    Similar Nearby for Sale

    • $6,500,000

      Historic Bleecker Street Mixed-Use Property

      Landmark mixed-use property in NoHo East Historic District.
      7 Bleecker St, New York, NY 10012
      View Details
    • Contact for pricing
      39,020 SF

      Nolita Fully Leased Portfolio

      Five adjacent mixed-use properties in Nolita, fully leased with upside.
      260 Elizabeth St, New York, NY 10012
      View Details
    • $6,500,000
      3,776 SF

      Historic Bleecker Street Mixed-Use Property

      Landmark property in NoHo East Historic District with endless possibilities.
      7 Bleecker St, Manhattan, NY 10012
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      SoHo Creative Space with History

      Unique mixed-use property with artistic history in prime SoHo.
      54 Crosby St, New York, NY 10012
      View Details
    • Contact for pricing

      Renovated Elevator Live/Work Building

      Newly renovated live/work building with high-end finishes.
      147 Spring St, New York, NY 10012
      View Details
    • Contact for pricing

      Office Space Available in New York

      Office space for rent in New York, 2,501 SqFt.
      110 Greene St, New York, NY 10012
      View Details
    • Contact for pricing

      Retail Space Available in New York

      Retail spaces available, ranging from 510 to 950 square feet.
      68 Prince St, New York, NY 10012
      View Details
    • Contact for pricing

      Retail Space on West Broadway

      Retail space available for rent in prime location.
      424 W Broadway, New York, NY 10012
      View Details
    • Contact for pricing
      20,000 SF

      Retail Space on Cortlandt Alley

      Divisible retail space with frontage on Cortlandt Alley.
      408 Broadway, New York, NY 10012
      View Details
    View Listing
    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.
    61 Sullivan St
    Manhattan, NY 10012
    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.
    Sign Up Successful!
    You now have access to more from Realmo!