Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    131-02B 40Th Rd, Unit 18T Flushing, NY 11354

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $922,000

    Modern apartment near transportation and shopping with high-end amenities.

    Property size:
    736 SF

    Property Features for 131-02B 40Th Rd

    General Information

    Size
    736 SF

    Building Details

    Year built
    2023

    We can help!

    Listing Contact
    Hsin Yuan Yang
    Source: Kw

    Listing Agent: Hsin Yuan Yang

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Luxury Apartment with Modern Amenities

    This property offers a comfortable living environment with modern architectural design, a perfect layout, and high-end European appliances. Features include heated bathroom floors, oak wood flooring, double-layer super soundproof floor-to-ceiling windows, and an in-unit washer/dryer. The luxury community provides full-service amenities such as a sky garden, landscaped terrace, barbecue area, fitness center, children's playground, steam and sauna spa, dog walking track, yoga studio, and library. It is adjacent to a shopping center, mall, and supermarket with various dining options. The location is a 5-8 minute walk to subway lines 7 and LIRR Long Island Railroad, providing access to Manhattan in 17-30 minutes. The property size is 736 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Fitness centers & gyms

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Flushing
    County
    Queens
    State
    New York
    Longitude
    -73.871721
    Latitude
    40.748409

    Nearby Similar for Sale

    • $2,197,000
      0.05 Acres

      Ridgewood Multifamily Building with Garage

      Well-maintained building in Ridgewood's Historic District with a three-car garage.
      6046 Putnam Ave, Ridgewood, NY 11385
      View Details
    • $1,499,999
      0.15 Acres

      Two-Family Home in Rego Park

      Two-family brick home in the heart of Rego Park.
      66-11 Burns St, Rego Park, NY 11374
      View Details
    • $1,299,000
      Pending

      Six-Family Building in Woodside

      Six-family building near transportation, delivered mostly vacant.
      37-37 64Th St, Woodside, NY 11377
      View Details
    • $2,288,000

      New Brick Triplex in Ridgewood

      Newly built Ridgewood triplex with modern layouts and parking.
      6014 Menahan St, Ridgewood, NY 11385
      View Details
    • $1,288,000
      Pending

      Two-Family Home in Fresh Meadows

      Charming two-family home in desirable Fresh Meadows neighborhood.
      183-11 64Th Ave, Fresh Meadows, NY 11365
      View Details
    • $1,650,000
      Pending

      Solid Stone Flushing Two-Family Home

      Two-family home in Flushing with strong rental income potential.
      154-39 64Th Ave, Flushing, NY 11367
      View Details
    • $1,395,000
      3,040 SF

      Glendale Four-Family Brick Building

      Four-family building in Glendale with income potential and value-add opportunity.
      72-07 73Rd St, Glendale, NY 11385
      View Details
    • New
      $2,380,000
      Pending

      Contemporary Two-Family Home in Bayside

      Luxurious, newly constructed two-family home in the heart of Bayside.
      46-38 204Th St, Bayside, NY 11361
      View Details
    • $1,800,000
      Pending

      Renovated Middle Village Three-Family Home

      Corner brick three-family home with garage, renovated, near Juniper Valley Park.
      7521 Caldwell Ave, Middle Village, NY 11379
      View Details
    • New
      $2,500,000
      0.13 Acres

      Flushing Two-Family Home Near Northern Blvd

      Two-family home in prime Flushing location near Northern Blvd.
      35-35 155Th St, Flushing, NY 11354
      View Details
    • $2,158,888
      9,200 SF

      Ridgewood Multifamily Building For Sale

      Well-maintained, renovated 8-unit building near M train.
      61-19 Madison St, Ridgewood, NY 11385
      View Details
    • New
      $1,648,000
      0.09 Acres

      Middle Village Multifamily Investment Opportunity

      Six-family property in prime Middle Village location, near transportation.
      8439 60Th Dr, Middle Village, NY 11379
      View Details

    FAQs

    What type of property is this?
    Apartment building - Modern apartment near transportation and shopping with high-end amenities.
    Where is this apartment building located?
    The property is located at 131-02B 40Th Rd, Unit 18T Flushing, NY.
    What is the asking price?
    The asking price for this property is $922,000.
    What are key features of this property?
    This property features: - Just a 5-8 minute walk to subway lines 7 and LIRR, putting Manhattan within 17-30 minutes.; - Luxurious living with full-service amenities including a sky garden, landscaped terrace, barbecue area, fitness center, children's playground, steam and sauna spa, dog walking track, yoga studio, and library.; - Modern architectural design provides a perfect layout.
    (646) 688-8998
    Request Owner's contact information
    131-02B 40Th Rd, Unit 18T Flushing, NY 11354
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    131-02B 40Th Rd, Unit 18T
    Flushing, NY 11354
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    131-02B 40Th Rd, Unit 18T Flushing, NY 11354
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Hsin Yuan Yang
    (646) 688-8998
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.