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Property profile & analytics
FOR SALE
Drive through restaurants
249 E 49Th St New York, NY 10017
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US63-0776801
For Sale
1 / 2
$6,800,000
249 E 49Th St, New York, NY 10017
View Listing →
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
1910
Total area
4,515 SF
Lot
0.06 ac (2,510 SF)
Zoning code
C6-5
APN
01021-0005
UPID
US63-0776801
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
-
Okatte Tanto NY Restaurant
-
Lillie's Victorian Establishment Bar & Pub Nightclub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.65M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.69M
Owner & transaction history
Good Times Square LLC · 3 yrs held
Good Times Square LLC
since 2023
Last sale
$5.8M
7 recorded transactions
Zoning & alternative use
C6-5 · New York, NY
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
Method
Estimation
Statistic approach
$5,505,000
ML approach
$5,650,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$5.69M
Range $5.12M – $6.26M · ±10% · vs last sale $5.80M (Apr 5 2023)
Last sale anchor
$5.80M
Apr 5 2023
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
$1,260 / 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
$158,740
Tax year 2024
Assessed value
$1,498,680
Assessed 2024
Previous assessed
$1,438,200
+4.2% YoY
Effective rate
10.59%
On assessed value
Assessed land
$338,850
Assessed improvement
$1,159,830
Land market value
$753,000
Improvement market value
$2,631,000
Total market value
$3,384,000
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
For Sale
Year built
1910
Heating
NONE
Buildings
1
Stories
1
Units
1
Total area
4,515 SF
Lot
0.06 ac (2,510 SF)
Zoning code
C6-5
APN
01021-0005
UPID
US63-0776801
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C6-5 · New York, NY
Zoning C6-5 · permitted uses
C6-5 · New York, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
New York. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1910
Heating
NONE
Stories
1
Buildings
1
Units
1
Lot
0.06 ac
Current owner
From public records · entity-resolved
Good Times Square LLC
Entity
Mailing address
249 W 49TH ST, NEW YORK, NY 10019-7404
Mailing matches property
Yes
Owner-occupied
Yes
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 5, 2023
$5,800,000
Good Times Square LLC
249 W 49th Street, LLC
Deed
$4,322,000 · City National Bank
Jun 4, 2019
—
249 W 49th Street LLC
—
Deed
related
$3,950,000 · Cherrywood Mtg LLC
Jun 23, 2016
$5,750,000
Jiro Nitta
K & S Of New York Corp
Grant Deed
—
Mar 30, 2009
$5,650,000
249 W 49th Street LLC
Jolin LLC
Grant Deed
—
—
—
249 W 49th Street LLC
—
Deed Of Trust
related
$750,403 · Cherrywood Mtg LLC
—
—
249 W 49th Street LLC
—
Loan Modification
related
$3,950,000 · Cherrywood Mtg LLC
—
—
249 W 49th Street LLC
—
Deed Of Trust
related
$3,530,000 · Cantor Commercial Real Estate
—
—
249 W 49th Street LLC
—
Deed Of Trust
related
$912,686 · Cantor Commercial Real Estate
—
—
249 W 49th Street LLC
—
Deed Of Trust
related
$2,800,000 · Habib American Bank
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.
Try Rey
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