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    1720 Vlg Ln Queens, NY 11691
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    Property profile & analytics

    1720 Vlg Ln Queens, NY 11691

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    • Retail properties & Spaces
    • 1,800,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 1720 Vlg Ln

    Year built
    2020
    Property size
    1,800,000 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    Stark Plaza, located at 1720 Village Ln, Queens, NY 11691, presents a unique investment opportunity within a thriving mixed-use development in the Rockaway submarket. This Class A property, built and renovated in 2020, boasts 1,800,000 square feet across eight, ten-story buildings, offering 55,000 square feet of vacant retail space divisible to a minimum of 1,000 square feet. Twelve suites are available within this dynamic development, which includes 1,700 residential units directly above the retail spaces, ensuring a built-in customer base. The property features 110,000 square feet of underground parking and elevators. Its strategic location directly across from the Beach 21st Street A-Train subway station and a one-minute walk from the Far Rockaway LIRR station provides unparalleled accessibility to over 1.5 million annual transit riders. Proximity to JFK Airport (15 minutes) further enhances its appeal to travelers and business professionals. The surrounding area is experiencing significant growth, with over 5,000,000 square feet of new development within a half-mile radius. Stark Plaza is anchored by a 25,000 square foot community hospital and surrounded by established businesses such as Northwell Health, USPS, McDonald's, CVS, and Boost Mobile, creating a vibrant and diverse commercial environment. The property's 330,000 square foot lot size and its location near the beach and waterfront contribute to its high foot traffic and desirability. This is an exceptional opportunity for businesses seeking to establish themselves in a rapidly growing and dynamic community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Queens
    County
    Suffolk
    State
    New York
    Longitude
    -73.7538
    Latitude
    40.6054

    Comparable in this City

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      1,047,528 SF

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      4,681 SF

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      1803 Mott Ave

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      1920-1938 Cornaga Ave

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    Similar Nearby for Lease

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      37,200 SF

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      Retail Space Available For Rent

      Retail space available for lease in Far Rockaway, NY.
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      4,196 SF

      Retail Space in New Development

      4,196 RSF retail space for lease near public transportation.
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      Retail Space for Lease

      Retail space available for lease in Queens, NY.
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      Retail Spaces Available For Rent

      Retail spaces available, ranging from 1,151 to 3,530 square feet.
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    • Contact for pricing
      3,454 SF

      Retail and Community Facility Spaces

      Retail spaces at the base of new residential buildings.
      1920-1938 Cornaga Ave, Queens, NY 11691
      View Details
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    Queens, NY 11691
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    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
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