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    Property profile & analytics

    6101 Springfield Blvd Oakland Gardens, NY 11364-2335

    • Retail space
    • 33,390 SF
    • 1.90 lot acres
    OFF-MARKET
    Last Sale
    Aug 03, 2022
    $32,000,000
    Value Estimations
    $24,460,000
    Show details
    Cap Rate Potential
    2.8%
    Retail space
    Location Intelligence
    Property ID
    US63-2262384
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Retail space

    Property Details for 6101 Springfield Blvd

    Year built
    1949
    Lot size
    1.90 lot acres
    Property size
    33,390 SF
    Zone code
    R3-2
    Property type
    Retail space
    APN
    07644-0009
    APU
    76440009

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $21,330,000
      ML approach
      $7,450,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $33,839,000
      Market price range: $14.9M - $44.1M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $24,745,000
      Current use
      OFFICE BUILDING
      $22,725,000
      Change: -8% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Oakland Gardens
    County
    Queens
    State
    New York
    Longitude
    -73.7558
    Latitude
    40.7484
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $444,514
    $1,858,950
    $2,337,750
    $4,196,700
    -
    $4,131,000
    $5,195,000
    $9,326,000

    Comparable in this City

    • Value Estimation
      $340,000
      15,735 SF

      21501 73rd Ave

      RETAIL STORES (PERSONAL SERVICES) • 15,735 SF
      21501 73rd Ave, Flushing, NY 11364-2928
      View Details
    • Value Estimation
      $2,865,000
      67,400 SF

      7336 Bell Blvd

      RETAIL STORES (PERSONAL SERVICES) • 67,400 SF
      7336 Bell Blvd, Flushing, NY 11364-2930
      View Details
    • Value Estimation
      $525,000
      14,800 SF

      22202 Un Tpke

      RETAIL STORES (PERSONAL SERVICES) • 14,800 SF
      22202 Un Tpke, Flushing, NY 11364-3643
      View Details
    • Value Estimation
      $350,000
      9,627 SF

      220-02 Hor Harding Ep Sr S

      RETAIL STORES (PERSONAL SERVICES) • 9,627 SF
      220-02 Hor Harding Ep Sr S, Oakland Gardens, NY 11364
      View Details
    • Value Estimation
      $350,000
      4,800 SF

      21202 Un Tpke

      RETAIL STORES (PERSONAL SERVICES) • 4,800 SF
      21202 Un Tpke, Flushing, NY 11364-3520
      View Details
    • Value Estimation
      $225,000
      880 SF

      4848 Clearview Expy

      RETAIL STORES (PERSONAL SERVICES) • 880 SF
      4848 Clearview Expy, Flushing, NY 11364-1040
      View Details

    Similar Nearby for Sale

    • $3,499,000
      Pending

      Bayside Retail Opportunity

      Retail property with high traffic location and vacant stores.
      215-01 Horace Harding Expy, Bayside, NY 11364
      View Details
    • $285,000

      Established Bakery Business For Sale

      Turnkey bakery with 20 years of proven success.
      61-22 Springfield Blvd, Flushing, NY 11364
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    • $188,000

      Restaurant For Sale

      Commercial restaurant business for sale in Queens.
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    • $1,588,000
      Pending

      Bayside Detached Two-Family Home

      Spacious Bayside two-family home with income potential and convenient location.
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    • $353,000

      Updated Corner Unit with Entry

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    • $398,000

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    Similar Nearby for Lease

    • Contact for pricing
      1,433 SF

      Oakland Gardens Office/Retail Space

      1,433 SF office/retail space with basement and parking.
      6102-6142 Springfield Blvd, Oakland Gardens, NY 11364
      View Details
    • $4,600 /Mo

      New Construction Two-Family House

      New construction two-family house with spacious layout and modern amenities.
      6907 229Th St, Flushing, NY 11364
      View Details
    • $2,500 /Mo

      Oakland Gardens Apartment For Rent

      Spacious 3-bedroom apartment in a private house, move-in ready.
      206th Oakland Gdn, Queens, NY 11364
      View Details
    • $2,200 /Mo

      Apartment Near Transportation and Amenities

      Apartment near dining, shopping, park, and transportation.
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      View Details
    • $3,500 /Mo

      Modern Building Ideal for Offices

      Spacious, modern building suitable for medical or daycare use.
      61-12 220Th St, Flushing, NY 11364
      View Details
    • $3,500 /Mo
      1,742 SF

      Bayside Commercial Space For Rent

      Spacious commercial space suitable for various businesses in Bayside.
      61-12 220 St Unit, Bayside, NY 11364
      View Details
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    6101 Springfield Blvd
    Oakland Gardens, NY 11364-2335
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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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