7 38Th StNew York, NY 10016
- Retail properties
- 80,797 SF
Property Details for 7 38Th St
- Year built
- 1920
- Lot size
- 0.17 AC
- Property size (Sq ft)
- 80,797 SF
- Zone code
- C52.5
- Property type
- Retail properties
- Property subtype
- Banks
- APN
- 00868-0010
- APU
- 8680010
Description
This exceptional 2,986 square foot commercial space, located at 7 East 38th Street, offers a unique opportunity in the vibrant Midtown submarket. Situated on the ground floor with an additional approximately 1,000 square foot mezzanine, this single-tenant property is ideal for a variety of uses, including retail, food service, office, or fitness. The space boasts attractive features such as private bathrooms, existing HVAC, and a striking glass frontage with a secure gate. Built in 1920, this Class C building features twelve stories and four elevators, ensuring convenient access. The property sits on a 0.17-acre lot and is zoned C5-2.5, providing flexibility for various business ventures. While there is no on-site parking, the building's prime location offers easy access to public transportation, with proximity to Grand Central Terminal and Bryant Park. The annual property taxes are $4.50 per square foot. This is a rare opportunity to secure a well-positioned, versatile space in one of Manhattan's most sought-after neighborhoods. The building's cross street is 5th Avenue.
Valuation
by Realmo methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $19,636,492
- 6.5%
- $18,125,992
- 7%
- $16,831,278
-
Comparable approach
- Method
- Valuation
- Relative Method
- $26,603,478
- Geo Method
- $26,603,478
-
Alternative Use
- Use
- Valuation
- Residential
- $15,289,953
- Hospitality
- $14,005,514
- Educational
- $11,652,424
- Medical
- $12,053,168
- Retail
- $18,125,992
Location Insight
- City
- New York
- County
- New York
- State
- New York
- Latitude
- 40.7509
- Longitude
- -73.9817
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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