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Property profile & analytics
OFF-MARKET
Estimated value
$1,460,000
Office Spaces
11940 Metropolitan Ave CU1 Jamaica, NY 11415-2600
Entity Owned
5-yr Hold
Free & Clear
Property ID
US63-4059951
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1987
Total area
3,187 SF
Zoning code
R6B
APN
09231-1101
UPID
US63-4059951
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
-
Dina M. Parolisi, MS Physician
-
Dr. Asit M. Mehta, MD Physician
-
Kew Gardens Family Physicians Medical Clinic
-
Kew Gardens Family Physicians: Harvey Peter DO Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.39M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.27M
Blend (final)
Blend
$1.46M
Owner & transaction history
Medisys Health Network INC · 5 yrs held
Medisys Health Network INC
since 2021
Last sale
$1.6M
2 recorded transactions
Zoning & alternative use
R6B · Jamaica, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$1.4M
+43.0%
Retail stores
$1.4M
+38.1%
Office building
$1.2M
+18.7%
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
$1,395,000
ML approach
$1,385,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$995,000
Current use
WAREHOUSE, STORAGE
$1,420,000
Change: +43% · Conversion: Difficult
RETAIL STORES
$1,370,000
Change: +38% · Conversion: Easy
OFFICE BUILDING
$1,180,000
Change: +19% · Conversion: Easy
Blend value · Realmo final
$1.46M
Range $1.31M – $1.61M · ±10% · vs last sale $1.62M (Jan 7 2021)
Last sale anchor
$1.62M
Jan 7 2021
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
$458 / 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
$48,774
Tax year 2024
Assessed value
$529,527
Assessed 2024
Previous assessed
$428,573
+23.6% YoY
Effective rate
9.21%
On assessed value
Assessed land
$35,895
Assessed improvement
$493,632
Land market value
$79,767
Improvement market value
$1,096,959
Total market value
$1,176,726
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 Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1987
Heating
NONE
Stories
3
Units
1
Total area
3,187 SF
Zoning code
R6B
APN
09231-1101
UPID
US63-4059951
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
COMMERCIAL (GENERAL) Current
Est. value
$995,000
WAREHOUSE, STORAGE
Est. value
$1.4M
RETAIL STORES
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.2M
COMMERCIAL (GENERAL) Current
WAREHOUSE, STORAGE
RETAIL STORES
OFFICE BUILDING
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
1987
Heating
NONE
Stories
3
Units
1
Current owner
From public records · entity-resolved
Medisys Health Network INC
Entity
Free & Clear · 5 yrs held
Mailing address
8900 VAN WYCK EXPY, RICHMOND HILL, NY 11418-2832
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 7, 2021
$1,620,000
Medisys Health Network INC
119-40 Metro Ave LLC
Grant Deed
—
May 31, 2011
$1,172,469
119-40 Metro Ave LLC
Northern Grove LLC
Grant Deed
$800,000 · Hsbc Bank USA
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.
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