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    131 138Th St New York, NY 10030

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    131 138Th St New York, NY 10030

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    • Retail properties & Spaces
    • 2,500 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 131 138Th St

    Property size
    2,500 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Apartment buildings

    Description

    This exceptional 2,500-square-foot retail space is available for lease at 131 West 138th Street in the vibrant Harlem neighborhood of New York City, New York County. The property is a single-tenant building, offering complete control and flexibility to the prospective lessee. The entire 2,500 square feet is currently vacant, presenting a unique opportunity for a business to establish a strong presence in a bustling area. The building's classification includes both commercial and apartment building subtypes, suggesting potential for diverse uses subject to applicable zoning regulations. Located in the 10030 zip code, this property benefits from excellent visibility and accessibility within a dynamic and growing community. The address, 131 West 138th Street, places it within a well-established commercial corridor, offering high foot traffic and significant potential for customer engagement. This is an ideal location for a variety of retail businesses seeking a prominent space in a thriving urban setting. The property is ready for immediate occupancy, allowing for a swift and efficient start to operations. Interested parties are encouraged to inquire promptly to secure this exceptional retail opportunity. The property is classified as retail and is located in New York County, New York.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9411
    Latitude
    40.8168

    Comparable in this City

    • Value Estimation
      $7,715,000
      26,640 SF

      78 Edgecombe Ave, Unit 86

      APARTMENT HOUSE (5+ UNITS) • 26,640 SF
      78 Edgecombe Ave, New York, NY 10030-2004
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    • Value Estimation
      $10,555,000
      52,290 SF

      127 141st St, Unit 135

      APARTMENT HOUSE (5+ UNITS) • 52,290 SF
      127 141st St, New York, NY 10030-1832
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    • Value Estimation
      $11,725,000
      47,506 SF

      140 142nd St, Unit 146

      APARTMENT HOUSE (5+ UNITS) • 47,506 SF
      140 142nd St, New York, NY 10030-1677
      View Details
    • Value Estimation
      $4,240,000
      15,996 SF

      152-154 144th St

      APARTMENT HOUSE (5+ UNITS) • 15,996 SF
      152-154 144th St, New York, NY 10030
      View Details
    • Value Estimation
      $7,775,000
      41,380 SF

      212 133rd St

      APARTMENT HOUSE (5+ UNITS) • 41,380 SF
      212 133rd St, New York, NY 10030-3241
      View Details
    • Value Estimation
      $6,040,000
      20,400 SF

      125 133rd St

      APARTMENT HOUSE (5+ UNITS) • 20,400 SF
      125 133rd St, New York, NY 10030-3324
      View Details

    Similar Nearby for Lease

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    • Contact for pricing
      1,693 SF

      Retail Space Available For Rent

      1,693 SF retail space with 30' frontage.
      300 W 135Th St, New York, NY 10030
      View Details
    • Contact for pricing
      433 SF

      Pristine Retail Space Near Park

      Retail space suitable for non-vented uses, steps from St. Nicholas Park.
      267 W 139Th St, New York, NY 10030
      View Details
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    131 138Th St
    New York, NY 10030
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    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
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