Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    10621 Metropolitan Ave Flushing, NY 11375-6739

    • Retail residential properties
    • 2,432 SF
    • 0.05 lot acres
    OFF-MARKET
    Last Sale
    Nov 25, 2024
    $2,000,000
    Value Estimations
    $2,000,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1307374
    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 residential properties

    Property Details for 10621 Metropolitan Ave

    Year built
    1905
    Lot size
    0.05 lot acres
    Property size
    2,432 SF
    Zone code
    R3-2
    Property type
    Retail residential properties
    APN
    03261-0079
    APU
    32610079

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,000,000
      ML approach
      $2,000,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Flushing
    County
    Queens
    State
    New York
    Longitude
    -73.8463
    Latitude
    40.71
    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
    $16,263
    $36,000
    $126,900
    $162,900
    -
    $80,000
    $282,000
    $362,000

    Comparable in this City

    • Value Estimation
      $710,000
      40,600 SF

      11602 Queens Blvd

      STORE/OFFICE (MIXED USE) • 40,600 SF
      11602 Queens Blvd, Flushing, NY 11375-7055
      View Details
    • Value Estimation
      $745,000
      36,820 SF

      10836 Queens Blvd

      STORES & APARTMENTS • 36,820 SF
      10836 Queens Blvd, Flushing, NY 11375-5361
      View Details
    • Value Estimation
      $630,000
      25,550 SF

      7158 Austin St

      STORES & APARTMENTS • 25,550 SF
      7158 Austin St, Flushing, NY 11375-4732
      View Details
    • Value Estimation
      $1,255,000
      156,762 SF

      6812 Yellowstone Blvd

      STORES & APARTMENTS • 156,762 SF
      6812 Yellowstone Blvd, Forest Hills, NY 11375-3268
      View Details
    • Value Estimation
      $855,000
      230,880 SF

      6939 Yellowstone Blvd

      STORES & APARTMENTS • 230,880 SF
      6939 Yellowstone Blvd, Forest Hills, NY 11375-3795
      View Details
    • Value Estimation
      $1,130,000
      97,200 SF

      10326 68th Rd

      STORES & APARTMENTS • 97,200 SF
      10326 68th Rd, Flushing, NY 11375-3200
      View Details

    Similar Nearby for Sale

    • $1,350,000

      Forest Hills Mixed-Use Investment

      Mixed-use property with storefront and residential unit in Forest Hills.
      105-16 Metropolitan Ave, Flushing, NY 11375
      View Details
    • $398,000
      0.08 Acres

      Forest Hills Condo Office Space

      Prime Medical Office Condo, 926 SF
      75-58 113Th St, Forest Hills, NY 11375
      View Details
    • $398,000
      1,500 SF

      Turnkey Medical Office in Forest Hills

      Spacious, fully-equipped medical office near transportation and shopping.
      69-40 Yellowstone Blvd, Forest Hills, NY 11375
      View Details
    • $595,000
      860 SF

      Spacious Forest Hills Condo with View

      Bright, renovated 2-bedroom condo with doorman and modern amenities.
      119-45 Union Tpke, Forest Hills, NY 11375
      View Details
    • $330,000

      Queens Apartment Building For Sale

      Apartment building for sale in Queens, NY.
      69-09 108Th St, Flushing, NY 11375
      View Details
    • $400,000

      Queens Apartment Building For Sale

      Apartment building located in Queens, New York.
      75-40 Austin St, Flushing, NY 11375
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,242 SF

      Forest Hills Medical Office Suites

      Queens Blvd Mixed-Use Office Space Available
      118-21 Queens Blvd, Queens, NY 11375
      View Details
    • Contact for pricing
      6,795 SF

      Prime Queens Retail Space

      6,795 SF Retail Space Available
      71-11 112 St, Queens, NY 11375
      View Details
    • $2,750 /Mo

      Queens Apartment for Rent

      Apartment in Queens available for rent at $2750.
      102-55 67 Dr Lf, Queens, NY 11375
      View Details
    • $4,500 /Mo
      1,899 SF

      Renovated Retail/Office Space Available

      Prime 1,300 Sq Ft retail/office space on Metropolitan Avenue.
      10412 Metropolitan Ave, Forest Hills, NY 11375
      View Details
    • Contact for pricing
      1,100 SF

      Forest Hills Medical Office Space

      1,100 SF Medical Office For Lease
      102-02 Queens Blvd, Forest Hills, NY 11375
      View Details
    • $5,300 /Mo
      2,000 SF

      Adaptable Storefront in Forest Hills

      2,000 SF commercial space in high-traffic Forest Hills location.
      100-26 67Th Rd, Forest Hills, NY 11375
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    10621 Metropolitan Ave
    Flushing, NY 11375-6739
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.