Add Listing
    For Lease
    • 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

    381 Park Avenue S New York, NY

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office space with great lobby exposure and private bathroom.

    Property size:
    1,500 SF
    Lot size:
    0.49 Acres

    Property Features for 381 Park Avenue S

    General Information

    Size
    1,500 SF
    Lot size
    0.49 Acres

    We can help!

    Listing Contact
    Anand Melwani
    Anand Melwani
    Source: Moodyscre

    Listing Agency: ARM Real Estate Group Listing Agent: Anand Melwani

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Prime Office Space Available

    This office space, totaling 1644 square feet, features excellent northern and western views, providing sunny exposures and flexible floorplates. The space benefits from tenant-controlled HVAC and sub-metered electric. Electric is included. It offers great lobby exposure and an open layout with a private bathroom, suitable for office use or other low-traffic businesses. The building is conveniently located close to the 6, R, and W subway lines and steps from Madison Square Park. Notable hotels and restaurants are within walking distance.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -74.0108336
    Latitude
    40.708487

    Nearby Similar for Lease

    • $700 /Mo

      Upper West Side Office Space

      First-floor office space near Central Park on Upper West Side.
      23 W 73Rd St, Manhattan, NY 10023
      View Details
    • $4,500 /Mo

      Renovated Commercial Space in Flushing

      Turnkey commercial space in a desirable Flushing location.
      148-09 Northern Boulevard, Flushing, NY 11354
      View Details
    • New
      $5,500 /Mo
      1,925 SF

      Flushing Medical Office Space

      Prime location medical office space for rent in Flushing.
      142-01 37Th Ave, Flushing, NY 11354
      View Details
    • New
      $3,000 /Mo

      Manhattan Office Suites for Rent

      Bright, private office suites with utilities included, available immediately.
      115 New York Plz, Manhattan, NY 10001
      View Details
    • New
      $3,700 /Mo

      Renovated Studio Near Union Square

      Sun-filled, renovated studio with in-unit washer/dryer near Union Square.
      389 2Nd Ave, New York, NY 10010
      View Details
    • $6,050 /Mo

      Modern Commercial Space in Flushing

      Ground floor commercial space ideal for medical or professional use.
      153-53 77Th Ave, Flushing, NY 11367
      View Details
    • $2,400 /Mo
      3,393 SF

      Flushing Medical Office For Rent

      Medical office space available in downtown Flushing.
      142-26 37Th Ave, Flushing, NY 11354
      View Details
    • $5,000 /Mo

      Renovated Commercial Condo in Flushing

      3,327 SF commercial condo ideal for various uses.
      32-16 137Th St, Flushing, NY 11354
      View Details
    • $3,600 /Mo

      Jamaica Commercial Space For Rent

      Commercial space available for rent in a bustling area.
      137-42 Guy R Brewer Blvd, Jamaica, NY 11434
      View Details
    • $3,995 /Mo

      Office Space in New York

      Office space for rent in New York, Manhattan.
      23 New York Plz, Manhattan, NY 10023
      View Details
    • $8,500 /Mo

      Flushing Commercial Space for Rent

      Commercial space suitable for school or adult day care center.
      199-03 199Th St, Flushing, NY 11354
      View Details
    • $3,000 /Mo
      601 SF

      Commercial Space in Jamaica, NY

      Adaptable commercial space at 139-27 Queens Boulevard, Jamaica, NY.
      13927 Queens Blvd, Jamaica, NY 11435
      View Details

    FAQs

    What type of property is this?
    Office units - Office space with great lobby exposure and private bathroom.
    Where is this office units located?
    The property is located at 381 Park Avenue S New York, NY.
    What are key features of this property?
    This property features: - Excellent northern and western views with sunny exposures; - Prime location steps from Madison Square Park; - Close proximity to the 6, R & W Trains
    (212) 464-8815 Call to check price and availability
    Request Owner's contact information
    381 Park Avenue S New York, NY
    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.
    381 Park Avenue S
    New York, NY
    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
    381 Park Avenue S New York, NY
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Anand Melwani
    Anand Melwani
    (212) 464-8815
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!