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Property profile & analytics
OFF-MARKET
Estimated value
$3,100,000
Manufacturing properties
1204 31st Ave Long Island City, NY 11106-4814
Entity Owned
21-yr Hold
Free & Clear
Property ID
US63-3954055
Property profile
Verified
Property type
Manufacturing properties
Use group
FACTORY (MANUFACTURING)
Year built
1940
Total area
10,600 SF
Lot
0.25 ac (11,000 SF)
Zoning code
R6B
APN
00518-0019
UPID
US63-3954055
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.27M
Blend (final)
Blend
$3.10M
Owner & transaction history
12-04 31st Avenue LLC · 21 yrs held
12-04 31st Avenue LLC
since 2005
1 recorded transaction
Zoning & alternative use
R6B · Long Island City, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.4M
+25.4%
Office building
$3.8M
+8.5%
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 Long Island City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Long Island City 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
INDUSTRIAL (GENERAL)
$3,530,000
Current use
COMMERCIAL (GENERAL)
$4,430,000
Change: +25% · Conversion: Difficult
OFFICE BUILDING
$3,830,000
Change: +9% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,265,000
Change: -7% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$3,005,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$3.10M
Range $2.79M – $3.41M · ±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
$292 / 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
$60,362
Tax year 2024
Assessed value
$627,750
Assessed 2024
Previous assessed
$559,260
+12.2% YoY
Effective rate
9.62%
On assessed value
Assessed land
$90,450
Assessed improvement
$537,300
Land market value
$201,000
Improvement market value
$1,194,000
Total market value
$1,395,000
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
Manufacturing properties
Use group
FACTORY (MANUFACTURING)
Status
Off-Market
Year built
1940
Heating
NONE
Buildings
1
Stories
1
Units
1
Total area
10,600 SF
Lot
0.25 ac (11,000 SF)
Zoning code
R6B
APN
00518-0019
UPID
US63-3954055
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R6B · Long Island City, NY
Zoning R6B · permitted uses
R6B · Long Island City, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Long Island City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$3.5M
COMMERCIAL (GENERAL)
Est. value
$4.4M
OFFICE BUILDING
Est. value
$3.8M
WAREHOUSE, STORAGE
Est. value
$3.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.0M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
WAREHOUSE, STORAGE
APARTMENT HOUSE (5+ UNITS)
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
1940
Heating
NONE
Stories
1
Buildings
1
Units
1
Lot
0.25 ac
Current owner
From public records · entity-resolved
12-04 31st Avenue LLC
Entity
Free & Clear · 21 yrs held
Mailing address
656 HUNT LN, MANHASSET, NY 11030-2756
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 31, 2005
—
12-04 31st Avenue LLC
Gatti,linda C
Grant Deed
related
—
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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