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    102-113 Farmers Blvd Queens, NY 11423

    Sponsored
    For Sale
    $1,395,000

    12-unit apartment building, high ROI potential.

    Property size:
    9,700 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 12-unit apartment building located at 113-02-06 Farmers Blvd, Queens, NY 11423. The property boasts 9,700 square feet of net rentable space across two, three-story buildings, built in 1938. Currently configured as a value-add opportunity, the property offers significant potential for renovation and increased profitability. The asking price is $1,395,000, translating to $143.81 per square foot and $116,250 per unit. The property sits on a 4,865 square foot lot (70 x 180 ft) and is zoned R5B, C1-3, allowing for diverse development possibilities. A strong pro-forma NOI of $301,864 projects a 20.12% cap rate. The property's location in St. Albans offers convenient access to JFK International Airport and the Long Island Rail Road, providing excellent transportation links. The area is experiencing significant revitalization efforts, including the Jamaica NOW Action Plan, promising future appreciation. This presents a compelling investment opportunity with both immediate rental income and substantial long-term growth potential. The property is being sold by owner.

    Property Features for 102-113 Farmers Blvd

    General Information

    Property type
    Multifamily properties
    Square Feet
    9,700 SF
    Class
    A

    Building Details

    Year Built
    1938
    Buildings
    2
    Stories
    3
    Units
    12
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    Queens
    County
    Queens
    State
    New York
    Longitude
    -73.763183947814
    Latitude
    40.699498053844

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    FAQs

    What type of property is this?
    Multifamily property - 12-unit apartment building, high ROI potential.
    Where is this multifamily property located?
    The property is located at 102-113 Farmers Blvd Queens, NY.
    What is the asking price?
    The asking price for this property is $1,395,000.
    Request Owner's contact information
    102-113 Farmers Blvd Queens, NY 11423
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    Queens, NY 11423
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    Realmo Value Estimation

    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.

    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.

    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
    102-113 Farmers Blvd Queens, NY 11423
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