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

    11402 Ocean Promenade Far Rockaway, NY 11694

    • Assisted living facilities
    • 60,900 SF
    • 1.10 lot acres
    OFF-MARKET
    Value Estimations
    $635,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3779849
    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

    • Assisted living facilities

    Property Details for 11402 Ocean Promenade

    Year built
    1922
    Lot size
    1.10 lot acres
    Property size
    60,900 SF
    Zone code
    R4
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    16187-0030
    APU
    161870030

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $840,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $426,000
      Market price range: $393k - $1.22M

    • Alternative Use

      Use
      Estimation
      HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
      $715,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Far Rockaway
    County
    Queens
    State
    New York
    Longitude
    -73.8349
    Latitude
    40.5786
    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
    $256,833
    $427,500
    $2,008,800
    $2,436,300
    -
    $950,000
    $4,464,000
    $5,414,000

    Comparable in this City

    • Value Estimation
      $695,000
      78,050 SF

      140 Bch 114th St

      HOMES (RETIRED, NURSING) • 78,050 SF
      140 Bch 114th St, Far Rockaway, NY 11694-2405
      View Details
    • Value Estimation by Request
      44,788 SF

      11212 Ocean Promenade

      HOMES (RETIRED, NURSING) • 44,788 SF
      11212 Ocean Promenade, Far Rockaway, NY 11694
      View Details
    • Value Estimation
      $505,000
      41,365 SF

      143 Bch 118th St

      MEDICAL CLINIC • 41,365 SF
      143 Bch 118th St, Far Rockaway, NY 11694
      View Details
    • Value Estimation
      $735,000
      79,000 SF

      10930 Ocean Promenade

      MEDICAL CLINIC • 79,000 SF
      10930 Ocean Promenade, Far Rockaway, NY 11694
      View Details
    • Value Estimation by Request
      15,000 SF

      12502 Ocean Promenade

      MEDICAL CLINIC • 15,000 SF
      12502 Ocean Promenade, Far Rockaway, NY 11694-1714
      View Details
    • Value Estimation
      $655,000
      40,320 SF

      209 Bch 125th St

      MEDICAL CLINIC • 40,320 SF
      209 Bch 125th St, Far Rockaway, NY 11694-1703
      View Details

    Similar Nearby for Sale

    • $30,000

      Established Nail Salon in Rockaway

      Turn-key nail salon business for sale in Rockaway Park.
      279 Beach 116Th St, Far Rockaway, NY 11694
      View Details
    • $1,215,000

      Belle Harbor Two-Family Home

      Move-in ready two-family home near Beach 129th Street.
      246 Beach 130Th St, Far Rockaway, NY 11694
      View Details
    • $1,399,000
      Pending

      Two-Family Beach House with Pool

      Modern duplex near the beach with income potential and private backyard.
      161 Beach 129Th St, Rockaway Park, NY 11694
      View Details
    • $295,000

      Beachfront Co-op in Rockaway Beach

      Bright, spacious 1BR co-op near beach, shops, and transportation.
      125 Beach 124Th St, Far Rockaway, NY 11694
      View Details
    • $245,000

      Beach 138th Street Apartment

      Apartment building for sale in Queens, NY.
      525 Beach 138Th St, Far Rockaway, NY 11694
      View Details
    • $1,200,000

      Multifamily Property in Queens

      Multifamily property for sale in Queens, New York.
      454 Beach 122Nd St, Far Rockaway, NY 11694
      View Details

    Similar Nearby for Lease

    • $3,000 /Mo

      Updated Apartment Near the Beach

      Spacious 3-bedroom, 2-bath apartment near the Atlantic Ocean.
      181 Beach 98Th St, Far Rockaway, NY 11694
      View Details
    • Contact for pricing
      2,000 SF

      Retail and Restaurant Spaces Available

      Retail and restaurant spaces for rent near subway station.
      11505 Beach Channel Dr, Rockaway Park, NY 11694
      View Details
    • Contact for pricing

      Corner Lot Building For Lease

      Building for lease on corner lot with strong exposure.
      Queens, NY 11694
      View Details
    • $12,000 /Mo

      Retail Space for Lease

      Retail space available for lease in Queens, NY.
      431B Beach 129Th St, Far Rockaway, NY 11694
      View Details
    • $7,500 /Mo

      Queens Multifamily Property For Rent

      Multifamily property available for rent in Queens, NY.
      11703 Newport Ave, Far Rockaway, NY 11694
      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.
    11402 Ocean Promenade
    Far Rockaway, NY 11694
    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.