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Property profile & analytics
FOR SALE
Retail space
246 W 38Th St, New York, NY 10018
Entity Owned
3-yr Hold
Property ID
US63-4277306-01
For Sale
1 / 4
$9,500,000
246 W 38Th St, New York, NY 10018
View Listing →
Property summary
AI-generated overview
The location is on 38 st. Between 7-8 ave. The store is 3500 sq. Ft. Basement is 1400 sq. Ft. Mez. is 1000ft. fully built out Restaurant and bar Rent is $34,000 month Maintenanance is $13,000 month including taxes . Tenant has 3 years lease left . asking 9.5m, can be delivered vacant !
Property profile
Verified
Property type
Retail space
Total area
5,900 SF
UPID
US63-4277306-01
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
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Law Office of Keshab Raj Seadie, PC Law Firm
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Gordon Law, P.C. - NYC Immigration Attorney Law Firm
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Global AMS Marketing & Advertising (Bike/Boat/Book/etc) Store
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Mozzign Inc Media Distribution
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The Lash Studio Hair Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Lcb6 LLC · 3 yrs held
Lcb6 LLC
since 2023
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
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
Status
For Sale
Total area
5,900 SF
UPID
US63-4277306-01
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Current owner
From public records · entity-resolved
Lcb6 LLC
Entity
Ownership since
2023
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 21, 2025
—
Lcb6 LLC
—
Deed
related
—
Jan 16, 2025
—
Lcb6 LLC
—
Deed
related
—
Apr 13, 2023
$3,895,000
Lcb6 LLC
Weiss Family Realty Corp.
Deed
—
Mar 29, 2023
—
Lcb6 LLC
—
Deed
related
—
Feb 24, 2017
—
246 West 38th Street Tenants Corp
—
Deed
related
$999,166 · Apple Bank For Savings
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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