Office Space For
For Sale
Contact for pricing
246 West 38th Street, New York, NY 10018
8,803 RSF office space available for purchase.
Property Size8,803 SF
Price / SF$400
Days on Market76
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
Changed: Jul 10
Last Checked: Aug 3 at 1:46PM
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
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 authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
81,836
Businesses Nearby
Explore this area
Business Placement
Demographics for 10018, NY
11,145
Population
5,678
Households
2
Avg Household Size
35
Median Age
75%
College-Educated
92%
High-School Grad
0.3 sq mi
ZIP Area
37,150
Density / Sq Mi
$133,042
Median Household Income
$103,655
Median Earnings
$3,501
Median Rent
$947,100
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
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
