Entity Owned Property summary
AI-generated overview
This exceptional 1,200 square foot medical office space is located on the second floor of a building at 62 West 22nd Street in New York City's vibrant Chelsea/Flatiron district. The space boasts approximately 20 feet of desirable window frontage overlooking the bustling intersection of 22nd Street and 6th Avenue, ensuring high visibility and foot traffic. Benefiting from its proximity to the 23rd & 6th Avenue subway station, this location guarantees a consistent flow of potential clients seven days a week. The space is currently built out as a salon, featuring newly installed white box finishes, including flooring, lighting, and HVAC systems. This turnkey space is ideal for a variety of uses, including medical offices, fitness centers, hair and nail salons, medi-spas, retail businesses, or general office space. The multiple tenancy building is situated in New York County, NY, 10010. This is a rare opportunity to secure a high-traffic, well-appointed space in a prime Manhattan location. The space is ready for immediate occupancy.
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
1940
Total area
3,478 SF
Lot
0.04 ac (1,778 SF)
Zoning code
C62A
APN
00823-0076
UPID
US63-2671605
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Hair Salon
-
Alternative Medicine Practice Spa & Massage Center
-
Take-out & Catering
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.71M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.37M
Owner & transaction history
since 2026
7 recorded transactions
Zoning & alternative use
C62A · New York, NY
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 9 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$1.37M
Value range
$1.23M – $1.51M
±10% around blend
Estimated value / SF
$394 / SF
Confidence
High
9 county-verified comps
Property data
100
Market benchmarks
67
Comparable evidence
90
$1.23M
blend $1.37M
$1.51M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
3,478 SF
Lot area
0.04 ac
Year built
1940
Stories
2
APN
00823-0076
Zoning
C62A
Assessed value
$667,620
Annual tax
$70,714
3
Income approach: direct capitalization
Partial preview
Income approach indication
$1.71M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$1.85M
@ 6.5% CAP return
$1.71M
@ 7% CAP return
$1.59M
4
Sales comparison
Partial preview
Sales approach indication
$2.77M
Weighted, 9 comps · high confidence
Evidence
9 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
1.1 mi away · 2,700 SF
1.8 mi away · 2,580 SF
1.9 mi away · 4,005 SF
2.1 mi away · 3,000 SF
2.7 mi away · 3,000 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.37M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 1320 sales
$725
-46%
County 1319 sales
$722
-45%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $394/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 9 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$668k
Move the market yield to see immediate price impact.
Value / SF
$192
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$42k
$841k
$601k
$467k
$47k
$935k
$668k
$519k
$51k
$1.03M
$734k
$571k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
9 found
High confidence · county-verified
Closest comparable
$3.00M
0.7 mi · Feb 2026 · $689/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$70,714
Tax year 2024
Assessed value
$667,620
Assessed 2024
Previous assessed
$536,400
+24.5% YoY
Effective rate
10.59%
On assessed value
Assessed land
$157,500
Assessed improvement
$510,120
Land market value
$400,000
Improvement market value
$1,230,000
Total market value
$1,630,000
Applied tax rate
4.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
Off-Market
Year built
1940
Heating
NONE
Buildings
1
Stories
2
Units
2
Total area
3,478 SF
Lot
0.04 ac (1,778 SF)
Zoning code
C62A
APN
00823-0076
UPID
US63-2671605
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C62A · New York, NYZoning C62A · permitted uses
C62A · New York, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1940
Heating
NONE
Stories
2
Buildings
1
Units
2
Lot
0.04 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
C62A
Jurisdiction
New York, NY
Recorded code
C62A
Ownership Intelligence
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Owner identityResolved entity and name variants
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Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
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