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Property profile & analytics
OFF-MARKET
Estimated value
$1,445,000
Apartment buildings
13102 Newport Ave, Far Rockaway, NY 11694-1400
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US63-3239392
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1931
Total area
2,975 SF
Lot
0.18 ac (8,000 SF)
Zoning code
R2
APN
16254-0038
UPID
US63-3239392
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
$1.44M
CAP Approach
CAP
$1.12M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.45M
Owner & transaction history
Gregory Michalak · 4 yrs held
Gregory Michalak
since 2021
Last sale
$1.5M
3 recorded transactions
Zoning & alternative use
R2 · Far Rockaway, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.6M
+206.0%
Retail stores
$1.3M
+153.1%
Warehouse, storage
$1.2M
+126.8%
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 Far Rockaway submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Far Rockaway 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
$1,405,000
ML approach
$1,440,000
CAP Approach
CAP Return
Estimation
6%
$1,210,000
6.5%
$1,120,000
7%
$1,040,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,625,000
Change: +206% · Conversion: Moderate
RETAIL STORES
$1,345,000
Change: +153% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,205,000
Change: +127% · Conversion: Difficult
Blend value · Realmo final
$1.45M
Range $1.30M – $1.59M · ±10% · vs last sale $1.47M (Nov 16 2021)
Last sale anchor
$1.47M
Nov 16 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
$486 / 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
$17,924
Tax year 2024
Assessed value
$159,300
Assessed 2024
Previous assessed
$132,750
+20.0% YoY
Effective rate
11.25%
On assessed value
Assessed land
$73,350
Assessed improvement
$85,950
Land market value
$163,000
Improvement market value
$191,000
Total market value
$354,000
Applied tax rate
2.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1931
Heating
NONE
Buildings
1
Stories
2
Units
5
Total area
2,975 SF
Lot
0.18 ac (8,000 SF)
Zoning code
R2
APN
16254-0038
UPID
US63-3239392
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R2 · Far Rockaway, NY
Zoning R2 · permitted uses
R2 · Far Rockaway, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Far Rockaway. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$1.6M
RETAIL STORES
Est. value
$1.3M
WAREHOUSE, STORAGE
Est. value
$1.2M
OFFICE BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
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
1931
Heating
NONE
Stories
2
Buildings
1
Units
5
Lot
0.18 ac
Current owner
From public records · entity-resolved
Gregory Michalak
Individual
Mailing address
9816 SHR FRNT PKWY, ROCKAWAY PARK, NY 11694-2866
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 16, 2021
$1,470,000
Gregory Michalak
Eot2459 LLC
Deed
$830,000 · Polish And Slavic FCU
Jan 25, 2017
$800,000
Eot2459 LLC
131-02 Newport Avenue LLC
Grant Deed
—
May 27, 2005
—
131-02 Newport Avenue LLC
Hart,helen
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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