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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    10915 Merrick Blvd Jamaica, NY 11433-3047

    • Apartment buildings
    • 118,566 SF
    • 0.95 lot acres
    OFF-MARKET
    Last Sale
    Nov 08, 2021
    Value Estimations
    $6,345,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2955078
    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

    • Apartment buildings

    Property Details for 10915 Merrick Blvd

    Year built
    1963
    Lot size
    0.95 lot acres
    Property size
    118,566 SF
    Zone code
    R5D
    Property type
    Apartment buildings
    APN
    10262-0011
    APU
    102620011

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Jamaica
    County
    Queens
    State
    New York
    Longitude
    -73.7836
    Latitude
    40.697
    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
    $436,120
    $927,450
    $2,560,950
    $3,488,400
    -
    $2,061,000
    $5,691,000
    $7,752,000

    Comparable in this City

    • Value Estimation
      $1,410,000
      5,625 SF

      10802 Guy R Brewer Blvd

      APARTMENT HOUSE (5+ UNITS) • 5,625 SF
      10802 Guy R Brewer Blvd, Jamaica, NY 11433-2816
      View Details
    • Value Estimation
      $9,515,000
      53,197 SF

      16225 112th Rd

      APARTMENT HOUSE (5+ UNITS) • 53,197 SF
      16225 112th Rd, Jamaica, NY 11433-3839
      View Details
    • Value Estimation by Request

      106-43 156 St

      Multifamily properties
      106-43 156 St, Queens, NY 11433
      View Details
    • Value Estimation
      $29,255,000
      195,000 SF

      10624 158th St

      APARTMENT HOUSE (5+ UNITS) • 195,000 SF
      10624 158th St, Jamaica, NY 11433
      View Details
    • Value Estimation
      $10,810,000
      54,615 SF

      17002 93rd Ave

      APARTMENT HOUSE (5+ UNITS) • 54,615 SF
      17002 93rd Ave, Jamaica, NY 11433-1209
      View Details
    • Value Estimation
      $7,450,000
      352,800 SF

      15901 110th Ave

      APARTMENT HOUSE (5+ UNITS) • 352,800 SF
      15901 110th Ave, Jamaica, NY 11433-3137
      View Details

    Similar Nearby for Sale

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      Pending

      Jamaica, NY Multi-Family Property

      Legal five-family property in Jamaica, NY, ideal for investors.
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    • $849,000
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      Jamaica Mixed-Use Development Opportunity

      Development opportunity in Jamaica, Queens with approved plans.
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    • $1,200,000

      Jamaica Queens Income Property

      Three-family home in Jamaica Queens generating over $80,000 annually.
      156-17 110Th Ave, Jamaica, NY 11433
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    • $999,999

      Mixed-Use Property in Jamaica, NY

      Mixed-use property with storefront, basement, and residential apartments.
      105-14 177Th St, Jamaica, NY 11433
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    • $4,395,000
      10,324 SF

      Jamaica Mixed-Use Property For Sale

      Mixed-use property in Jamaica, NY with residential and commercial units.
      106-25 Guy R Brewer Blvd, Jamaica, NY 11433
      View Details
    • $2,900,000
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      Queens Mixed-Use Investment Opportunity

      High-yield, renovated multifamily with parking
      11024-11028 Merrick Blvd, Queens, NY 11433
      View Details

    Similar Nearby for Lease

    • $3,200 /Mo

      Renovated Three-Bedroom Hi-Ranch Unit

      Recently renovated three-bedroom unit near schools and public transportation.
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      Duplex apartment in Jamaica, Queens, with two bedrooms and bathrooms.
      110-33 178Th St, Jamaica, NY 11433
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    • $23 SF/Yr
      2,525 SF

      Jamaica Warehouse Space Available

      16,000 SF warehouse in South Jamaica for rent.
      144 156Th St, Jamaica, NY 11433
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    • Contact for pricing

      Turnkey Children's Entertainment Space

      Turnkey children’s entertainment space near transportation.
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      View Details
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      1,845 SF

      Jamaica Warehouse Space Available

      Two-story, 12,000 SF warehouse in Jamaica, Queens for rent.
      149 177Th St, Jamaica, NY 11433
      View Details
    • Contact for pricing
      55,000 SF

      Jamaica Warehouse: 11,000 SF

      High-ceiling warehouse, ideal for diverse uses
      110-60 Dunkirk St, Queens, NY 11433
      View Details
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    10915 Merrick Blvd
    Jamaica, NY 11433-3047
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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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