Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    88-38 181 St Queens, NY 11423

    • Apartment buildings
    • 2,240 SF
    • 0.05 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 88-38 181 St

    Year built
    1925
    Lot size
    0.05 lot acres
    Property size
    2,240 SF
    Property type
    Apartment buildings

    Description

    This exceptional investment opportunity presents a charming two-family home situated at 88-38 181st Street in Hollis, Queens, New York. Built in 1925, this property boasts a total of 2,240 square feet situated on a 0.05-acre lot (APN: 09916-0049). The building comprises two units

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Queens
    County
    Queens
    State
    New York
    Longitude
    -73.7815
    Latitude
    40.712

    Comparable in this City

    • Value Estimation
      $285,000
      2,444 SF

      18317 91st Ave

      APARTMENT HOUSE (5+ UNITS) • 2,444 SF
      18317 91st Ave, Jamaica, NY 11423-2305
      View Details
    • Value Estimation
      $1,050,000
      70,513 SF

      9160 193rd St

      APARTMENT HOUSE (5+ UNITS) • 70,513 SF
      9160 193rd St, Jamaica, NY 11423-3549
      View Details
    • Value Estimation
      $770,000
      39,860 SF

      10202 185th St

      APARTMENT HOUSE (5+ UNITS) • 39,860 SF
      10202 185th St, Jamaica, NY 11423-3106
      View Details
    • Value Estimation
      $690,000
      39,000 SF

      10201 186th St

      APARTMENT HOUSE (5+ UNITS) • 39,000 SF
      10201 186th St, Jamaica, NY 11423-3107
      View Details
    • Value Estimation
      $12,305,000
      81,091 SF

      9135 193rd St

      APARTMENT HOUSE (5+ UNITS) • 81,091 SF
      9135 193rd St, Jamaica, NY 11423-3554
      View Details
    • Value Estimation
      $415,000
      15,000 SF

      19011 Hillside Ave

      APARTMENT HOUSE (5+ UNITS) • 15,000 SF
      19011 Hillside Ave, Jamaica, NY 11423-1912
      View Details

    Similar Nearby for Sale

    • $949,000
      0.04 Acres

      Mixed-Use Building on Jamaica Avenue

      Mixed-use building with retail and apartments in a high-traffic location.
      19106 Jamaica Ave, Hollis, NY 11423
      View Details
    • $219,000

      Spacious Updated Garden Apartment

      Updated garden apartment in Holliswood, Queens, move-in ready.
      196-35 Dunton Ave, Jamaica, NY 11423
      View Details
    • $270,000

      Spacious Two-Bedroom Unit in Queens

      Luxury two-bedroom co-op near stores, transportation, and schools.
      202-35 Foothill Ave, Jamaica, NY 11423
      View Details
    • $290,000

      Renovated Two-Bedroom Co-op

      Totally renovated two-bedroom co-op near transportation.
      87-10 204Th St, Jamaica, NY 11423
      View Details
    • $209,999

      Holliswood Co-Op Apartment

      Spacious one-bedroom co-op with updated features and convenient amenities.
      87-16 Marengo St, Jamaica, NY 11423
      View Details
    • $190,000

      Jamaica Estates Garden Apartment

      One-bedroom apartment in desirable Jamaica Estates co-op community.
      198-02 B, Queens, NY 11423
      View Details

    Similar Nearby for Lease

    • $3,300 /Mo

      Spacious Multifamily Unit with Balcony

      Large 4-bedroom unit with balcony, close to amenities.
      9326 197Th St, Jamaica, NY 11423
      View Details
    • $4,200 /Mo
      2,200 SF

      Jamaica Avenue Commercial Space

      Commercial space with basement available for lease on Jamaica Avenue.
      205-03 Jamaica Ave, Jamaica, NY 11423
      View Details
    • $12,000 /Mo
      5,079 SF

      Luxury Office Space Available

      High-visibility office space in Jamaica Estates, 3,300 sq. ft.
      8015 188Th St, Jamaica Estates, NY 11423
      View Details
    • $2,300 /Mo
      500 SF

      Retail Storefront on Hollis Avenue

      Retail space for rent in Saint Albans, Queens.
      202-15 Hollis Ave, Saint Albans, NY 11423
      View Details
    • $27 SF/Yr
      7,960 SF

      Industrial Warehouse Space Available

      7,960 SF industrial warehouse space for rent.
      147 182Nd St, Springfield Gardens, NY 11423
      View Details
    • $3,500 /Mo
      3,400 SF

      Turn-Key Commercial Space Available

      Professional office space in a busy, convenient location.
      19910 Hollis Ave, Hollis, NY 11423
      View Details
    Request Owner's contact information
    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.
    88-38 181 St
    Queens, NY 11423
    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
    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

    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.