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    Property profile & analytics

    213-08 99 Ave Queens, NY 11429

    • Life science properties
    • 6,225 SF
    For Sale
    View listing
    $2,200,000
    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 213-08 99 Ave

    Property size
    6,225 SF
    Property type
    Life science properties
    Property subtype
    Industrial properties

    Description

    This exceptional 6,225-square-foot industrial property, located at 213-08 99th Avenue in Queens Village, New York (zip code 11429), presents a unique investment opportunity. The single-story building is zoned R3-2 and features a 14-foot ceiling height in the warehouse area, complemented by 9- to 12-foot ceilings in the office space. The property boasts one loading dock, a drive-in, and ample parking, including both a dedicated lot and street parking. The warehouse area is equipped with gas heat, while the offices benefit from a full HVAC system. Two bathrooms are included, one with a shower located in the office space and another in the warehouse. The building is further enhanced by a security system featuring cameras and a robust 600-amp electrical service. Its convenient location, just one block from Jamaica Avenue and in close proximity to John F. Kennedy International Airport, makes it ideal for a variety of uses, including industrial, research and development, office, or medical purposes. This property offers a compelling combination of functionality, location, and modern amenities. The asking price is $2,200,000.

    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
    -73.7455
    Latitude
    40.7141

    Comparable in this City

    • Value Estimation
      $505,000
      4,954 SF

      9802 218th St

      INDUSTRIAL (GENERAL) • 4,954 SF
      9802 218th St, Jamaica, NY 11429-1238
      View Details
    • Value Estimation
      $595,000
      6,225 SF

      21224 99th Ave

      INDUSTRIAL (GENERAL) • 6,225 SF
      21224 99th Ave, Jamaica, NY 11429
      View Details
    • Value Estimation
      $11,245,000
      66,978 SF

      21740 98th Ave

      MANUFACTURING (LIGHT) • 66,978 SF
      21740 98th Ave, Jamaica, NY 11429
      View Details
    • Value Estimation
      $1,120,000
      13,442 SF

      21510 Hempstead Ave

      WAREHOUSE, STORAGE • 13,442 SF
      21510 Hempstead Ave, Jamaica, NY 11429-1222
      View Details
    • Value Estimation
      $4,910,000
      12,000 SF

      21768 Hempstead Ave

      WAREHOUSE, STORAGE • 12,000 SF
      21768 Hempstead Ave, Jamaica, NY 11429-1247
      View Details
    • Value Estimation
      $1,330,000
      23,075 SF

      21802 97th Ave

      MANUFACTURING (LIGHT) • 23,075 SF
      21802 97th Ave, Jamaica, NY 11429-1233
      View Details

    Similar Nearby for Sale

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      Queens Village Industrial Property

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    • Contact for pricing
      6,225 SF

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    Similar Nearby for Lease

    • $3,200 /Mo

      Queens Village Apartment for Rent

      Three-bedroom apartment in Queens Village, available immediately.
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    • Contact for pricing
      9,450 SF

      Queens Village Office Space Available

      Office space for rent near transportation and amenities.
      22230-22240 96Th Ave, Queens Village, NY 11429
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    • $2,500 /Mo

      Renovated Space For Rent

      Renovated 500 sq ft space suitable for store or office.
      113-69 Springfield Blvd, Jamaica, NY 11429
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    • Contact for pricing
      14,428 SF

      Hempstead Ave Retail Space For Lease

      Queens Retail Space: 1,248 - 13,000 SF Available
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      View Details
    • $50 SF/Yr
      13,193 SF

      Queens Village Retail Space Available

      Retail space available in Queens Village, near transportation.
      11237 Springfield Blvd, Queens Village, NY 11429
      View Details
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    213-08 99 Ave
    Queens, NY 11429
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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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