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    40-03 76 St Queens, NY 11373

    • Apartment buildings
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 40-03 76 St

    Property type
    Apartment buildings

    Description

    This exceptional multifamily investment opportunity presents a well-maintained apartment building located at 40-03 76th Street, Elmhurst, NY 11373, in Queens County. Offered at $1,995,000, this property represents a strong addition to any portfolio. The building's classification as a multifamily apartment building signifies its potential for consistent rental income. Situated in the vibrant Elmhurst neighborhood, the property benefits from a desirable location within Queens, New York, with convenient access to local amenities, transportation, and a thriving community. The precise building highlights and investment specifics are available upon request through the official marketing materials. This property is categorized as an apartment building, indicating its suitability for investors seeking rental income generation. The address is clearly identified as 40-03 76th Street, Elmhurst, NY 11373, providing easy location verification. Further details regarding the property's size, unit breakdown, and financial performance are available in the official offering memorandum. This is a compelling opportunity for investors seeking a stable and potentially lucrative investment in the New York City real estate market. Interested parties are encouraged to review the complete offering memorandum for a comprehensive understanding of this property's features and financial projections. The property's geographic coordinates are 40.7468723 latitude and -73.8892918 longitude, further aiding in location identification.

    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
    -73.8893
    Latitude
    40.7469

    Comparable in this City

    • Value Estimation
      $590,000
      60,000 SF

      8449 Elmhurst Ave

      APARTMENT HOUSE (5+ UNITS) • 60,000 SF
      8449 Elmhurst Ave, Flushing, NY 11373-3358
      View Details
    • Value Estimation
      $590,000
      52,553 SF

      7506 Woodside Ave

      APARTMENT HOUSE (5+ UNITS) • 52,553 SF
      7506 Woodside Ave, Flushing, NY 11373-1863
      View Details
    • Value Estimation
      $530,000
      74,600 SF

      5115 Van Kleeck St

      APARTMENT HOUSE (5+ UNITS) • 74,600 SF
      5115 Van Kleeck St, Flushing, NY 11373-4261
      View Details
    • Value Estimation
      $760,000
      82,724 SF

      4051 Denman St

      APARTMENT HOUSE (5+ UNITS) • 82,724 SF
      4051 Denman St, Flushing, NY 11373-1668
      View Details
    • Value Estimation
      $560,000
      32,550 SF

      4254 Judge St

      APARTMENT HOUSE (5+ UNITS) • 32,550 SF
      4254 Judge St, Flushing, NY 11373-2575
      View Details
    • Value Estimation
      $625,000
      82,500 SF

      9201 Lamont Ave

      APARTMENT HOUSE (5+ UNITS) • 82,500 SF
      9201 Lamont Ave, Flushing, NY 11373-2772
      View Details

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    Similar Nearby for Lease

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    • Contact for pricing
      40,000 SF

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      40,000 SF Office, Prime Location
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      Elmhurst Retail Space For Lease

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      Retail space available for lease in Queens, NY.
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      Elmhurst Commercial Office Space

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      8329 Level, Queens, NY 11373
      View Details
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    40-03 76 St
    Queens, NY 11373
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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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