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Property profile & analytics
OFF-MARKET
Estimated value
$9,580,000
Retail space
155 38th Ststr1 New York, NY 10016-2660
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US63-3956517
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Total area
7,961 SF
Lot
0.3 ac (12,896 SF)
Zoning code
C1-9
APN
00894-1702
UPID
US63-3956517
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Odile of New York City Clothing Store
-
Margot Martino Pediatrician Medical Clinic
-
Lovely Bits (Bike/Boat/Book/etc) Store Cosmetic Store
-
Chen Virginia L MD Physician Medical Clinic
-
Schwartz Victor MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.19M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$11.86M
Blend (final)
Blend
$9.58M
Owner & transaction history
580 Third Ave Retail LLC · 6 yrs held
580 Third Ave Retail LLC
since 2020
Last sale
$10.0M
5 recorded transactions
Zoning & alternative use
C1-9 · New York, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$13.7M
+30.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs New York submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New York submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$9,140,000
ML approach
$9,185,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$10,470,000
Current use
INDUSTRIAL (GENERAL)
$13,665,000
Change: +31% · Conversion: Difficult
Blend value · Realmo final
$9.58M
Range $8.62M – $10.54M · ±10% · vs last sale $10.00M (Jan 2 2020)
Last sale anchor
$10.00M
Jan 2 2020
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$1,203 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$199,016
Tax year 2024
Assessed value
$2,099,339
Assessed 2024
Previous assessed
$2,161,535
-2.9% YoY
Effective rate
9.48%
On assessed value
Assessed land
$438,611
Assessed improvement
$1,660,728
Land market value
$974,692
Improvement market value
$3,200,713
Total market value
$4,175,405
Applied tax rate
4.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Heating
NONE
Buildings
1
Stories
22
Units
1
Total area
7,961 SF
Lot
0.3 ac (12,896 SF)
Zoning code
C1-9
APN
00894-1702
UPID
US63-3956517
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C1-9 · New York, NYZoning C1-9 · permitted uses
C1-9 · New York, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$10.5M
INDUSTRIAL (GENERAL)
Est. value
$13.7M
RETAIL STORES Current
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Heating
NONE
Stories
22
Buildings
1
Units
1
Lot
0.3 ac
Current owner
From public records · entity-resolved
580 Third Ave Retail LLC
Entity
Mailing address
579 5TH AVE #4, NEW YORK, NY 10017-1917
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 2, 2020
$10,000,000
580 Third Ave Retail LLC
Cheltenham Properties LLC
Deed
—
Dec 7, 2007
—
Cheltenham Properties LLC
—
Deed Of Trust
related
$6,500,000 · Bank Of China
—
—
Cheltenham Properties LLC
—
Loan Modification
related
$5,300,000 · Metropolitan Com'l Bk
—
—
Cheltenham Properties LLC
—
Deed Of Trust
related
$3,196,200 · Bank Of China
—
—
Cheltenham Properties LLC
—
Deed Of Trust
related
$348,359 · Washington Mutual Fsb
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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