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Property profile & analytics
OFF-MARKET
Estimated value
$10,060,000
Office buildings
11606 Myrtle Ave, Jamaica, NY 11418-1748
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US63-0961245
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1925
Total area
35,000 SF
Lot
0.17 ac (7,500 SF)
Zoning code
R6B
APN
09254-0001
UPID
US63-0961245
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Mustufa Raja Counselor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$10.06M
Owner & transaction history
Myrtle Avenue Realty Co LP · 10 yrs held
Myrtle Avenue Realty Co LP
since 2016
3 recorded transactions
Zoning & alternative use
R6B · Jamaica, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$15.6M
+20.5%
Retail stores
$15.1M
+16.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Jamaica submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Jamaica submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$12,950,000
Current use
WAREHOUSE, STORAGE
$15,600,000
Change: +20% · Conversion: Difficult
RETAIL STORES
$15,060,000
Change: +16% · Conversion: Moderate
Blend value · Realmo final
$10.06M
Range $9.05M – $11.07M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$287 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$310,235
Tax year 2024
Assessed value
$3,054,150
Assessed 2024
Previous assessed
$2,818,130
+8.4% YoY
Effective rate
10.16%
On assessed value
Assessed land
$156,150
Assessed improvement
$2,898,000
Land market value
$347,000
Improvement market value
$6,440,000
Total market value
$6,787,000
Applied tax rate
4.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1925
Heating
NONE
Buildings
1
Stories
4
Units
4
Total area
35,000 SF
Lot
0.17 ac (7,500 SF)
Zoning code
R6B
APN
09254-0001
UPID
US63-0961245
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R6B · Jamaica, NY
Zoning R6B · permitted uses
R6B · Jamaica, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Jamaica. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$13.0M
WAREHOUSE, STORAGE
Est. value
$15.6M
RETAIL STORES
Est. value
$15.1M
OFFICE BUILDING Current
WAREHOUSE, STORAGE
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1925
Heating
NONE
Stories
4
Buildings
1
Units
4
Lot
0.17 ac
Current owner
From public records · entity-resolved
Myrtle Avenue Realty Co LP
Entity
Mailing address
11610 MYRTLE AVE, RICHMOND HILL, NY 11418-1748
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 3, 2016
—
Myrtle Avenue Realty Co LP
—
Deed
related
$3,000,000 · First Cmrc Bk
—
—
Myrtle Avenue Realty Co LP
—
Loan Modification, Consolidation And Extension
related
$3,000,000 · First Cmrc Bk
—
—
Jp Morgan Chase Bk
—
Deed Of Trust
related
$1,739,490 · Myrtle Avenue Realty Co LP
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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