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    35-34 94 St Queens, NY 11372

    • Apartment buildings
    • 14,960 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 35-34 94 St

    Year built
    1930
    Property size
    14,960 SF
    Property type
    Apartment buildings

    Description

    This exceptional investment opportunity presents a 16-unit apartment building located at 35-34 94th St, Queens, NY 11372. The property, built in 1930, boasts a total of 14,960 square feet, with 13,500 square feet of net rentable space across four stories. Currently operating at 100% occupancy, this Class C multifamily building generates a substantial net operating income (NOI) of $101,007, resulting in a compelling 3.37% capitalization rate. The asking price is $3,000,000. Situated on a 4,500 square foot lot, the property is zoned R6A. The building's strong financial performance is further highlighted by a gross income of $261,181 and expenses of $160,174 (tenants are responsible for their own utilities). This presents a rare chance to acquire a stable, high-performing asset in the desirable Jackson Heights neighborhood of Queens. The building's solid construction and consistent occupancy make it an attractive investment for both seasoned and emerging real estate investors seeking a strong return on investment. The property's location offers easy access to public transportation and various amenities.

    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
    -73.8736
    Latitude
    40.7519

    Comparable in this City

    • Value Estimation
      $505,000
      51,872 SF

      3457 82nd St

      APARTMENT HOUSE (5+ UNITS) • 51,872 SF
      3457 82nd St, Flushing, NY 11372-2939
      View Details
    • Value Estimation
      $835,000
      78,088 SF

      3415 94th St

      APARTMENT HOUSE (5+ UNITS) • 78,088 SF
      3415 94th St, Flushing, NY 11372-3832
      View Details
    • Value Estimation
      $540,000
      50,924 SF

      3551 95th St

      APARTMENT HOUSE (5+ UNITS) • 50,924 SF
      3551 95th St, Flushing, NY 11372-8500
      View Details
    • Value Estimation
      $490,000
      60,000 SF

      3515 75th St

      APARTMENT HOUSE (5+ UNITS) • 60,000 SF
      3515 75th St, Flushing, NY 11372-4456
      View Details
    • Value Estimation
      $490,000
      57,920 SF

      3741 81st St

      APARTMENT HOUSE (5+ UNITS) • 57,920 SF
      3741 81st St, Flushing, NY 11372-6973
      View Details
    • Value Estimation
      $680,000
      66,138 SF

      3420 74th St

      APARTMENT HOUSE (5+ UNITS) • 66,138 SF
      3420 74th St, Flushing, NY 11372-2173
      View Details

    Similar Nearby for Sale

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      Queens Multifamily Property For Sale

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    Similar Nearby for Lease

    • $3,200 /Mo
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      Retail Space in Jackson Heights

      Retail space in a popular area near public transportation.
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    • $5,500 /Mo

      Prime Jackson Heights Office Space

      1,000 SF office space in prime Jackson Heights location.
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    • Contact for pricing
      3,300 SF

      Retail Space Near 7 Train

      Retail space in high foot traffic area near 7 train.
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    • Contact for pricing
      2,183 SF

      Prime Retail Space Available

      Retail spaces in prime Jackson Heights location, all uses considered.
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      14,373 SF

      Queens Medical Office Space For Lease

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    • $7,000 /Mo
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      Prime Jackson Heights Office Space

      High-traffic office space ideal for retail, medical, or professional use.
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      View Details
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    35-34 94 St
    Queens, NY 11372
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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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