Office Space For
246 West 38th Street New York, NY 10018
246 West 38th Street, New York, NY, 10018
Contact for pricing
For Sale
Contact for pricing
8,803 RSF office space available for purchase.
Property Size8,803 SF
Price / SF$400
Days on Market62
Property Features for 246 West 38th Street
General Information
- Standard status
- Active
- Size
- 8,803 SF
- Property subtype
- Office
Listing agency
Rudder Property Group
Listed by
Justin Harris · License #NY 10401319657
Source
Crexi
Added: May 21 Updated: Jul 10 at 1:41PM Checked: Jul 21 at 9:10AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Rudder Property Group
Investment Insights
Based on property information with market context.
This commercial property offers 8,803 rentable square feet of office space. The property is suitable for office use.
Key Highlights
- Office space available
- 8,803 RSF of rentable square feet
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $453.2k | $51.48 |
| − Vacancy | −$85.7k | −$9.73 |
| EGI | $367.5k | $41.75 |
| − OpEx | −$91.9k | −$10.44 |
| NOI | $275.6k | $31.31 |
8,803 SF · lease $51.48/SF/yr · vacancy 18.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.94M
$3.45M – $4.59M
NOI $275,646 @ 7.0% cap · market cap 7.83%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$21.91M
$19.17M – $25.56M
NOI $1,533,835 @ 7.0% cap · market cap 43.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Law Office of Keshab ...
Law Firm
Gordon Law, P.C. ...
Law Firm
Global AMS
Marketing & Advertising
Mozzign Inc
Media Distribution
The Lash Studio
Hair Salon
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - 8,803 RSF office space available for purchase.
Where is this office building located?
The property is located at 246 West 38th Street New York, NY.
What is the asking price?
The asking price for this property is $3,521,200.
What are key features of this property?
This property features: Office space available; 8,803 RSF of rentable square feet
