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    15048 14th Ave Flushing, NY 11357-1818
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    Property profile & analytics

    15048 14th Ave, Flushing, NY 11357-1818

    View on Map
    • Investment properties
    • 4,077 SF
    • 0.06 lot acres
    Off-Market
    Last Sale Jul 19, 2021
    $1,650,000
    Property ID
    US63-5469969
    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.
    Value Estimations
    $1,635,000
    Show details
    Cap Rate Potential
    3.3%
    Investment properties
    Location Intelligence

    Current Use by Public Records

    • Investment properties

    Property Details for 15048 14th Ave

    Year built
    2017
    Lot size
    0.06 lot acres
    Zone code
    R3-2
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    04678-0105
    APU
    46780105

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 19, 2021 $1,650,000 Qiu Holding LLC Village Center LLC Deed $825k · Maspeth Federal Savings And Loan As
    Nov 28, 2018 — Village Center LLC — Grant Deed · related $1.5M · Maspeth Fed'l S&l

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,610,000
      ML approach
      $1,540,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,725,000
      Market price range: $1.17M - $1.73M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,470,000
      Current use
      WAREHOUSE, STORAGE
      $2,100,000
      Change: +43% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Flushing
    County
    Queens
    State
    New York
    Longitude
    -73.8119
    Latitude
    40.789
    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
    $34,166
    $70,200
    $282,600
    $352,800
    -
    $156,000
    $628,000
    $784,000

    Comparable in this City

    • Value Estimation by Request
      1,540 SF

      1451 150th St

      STORE/OFFICE (MIXED USE)
      1451 150th St, Flushing, NY 11357-1749
      View Details
    • Value Estimation
      $4,080,000
      21,040 SF

      1024 154th St

      STORE/OFFICE (MIXED USE)
      1024 154th St, Flushing, NY 11357-1953
      View Details
    • Value Estimation
      $1,050,000
      5,280 SF

      1401 150th St

      STORE/OFFICE (MIXED USE)
      1401 150th St, Flushing, NY 11357-1749
      View Details
    • Value Estimation
      $830,000
      4,080 SF

      1125 154th St

      STORE/OFFICE (MIXED USE)
      1125 154th St, Flushing, NY 11357-1954
      View Details
    • Value Estimation
      $1,375,000
      7,038 SF

      15039 14th Ave

      STORE/OFFICE (MIXED USE)
      15039 14th Ave, Flushing, NY 11357-1870
      View Details
    • Value Estimation by Request
      2,182 SF

      1423 150th St

      STORE/OFFICE (MIXED USE)
      1423 150th St, Flushing, NY 11357-1749
      View Details

    Similar Nearby for Sale

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      New Whitestone Mixed-Use Building

      New mixed-use building in Whitestone with retail and residential units.
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      View Details
    • $2,298,000
      0.17 Acres

      Whitestone Mixed-Use Development Opportunity

      Approved plans for three mixed-use buildings in Whitestone, Queens.
      149-16 14Th Ave, Whitestone, NY 11357
      View Details
    • Contact for pricing
      4,400 SF

      New Mixed-Use Building For Sale

      New mixed-use building with retail and residential units.
      150-20 12Th Rd, Queens, NY 11357
      View Details

    Similar Nearby for Lease

    • $3,913 /Mo
      6,251 SF

      Whitestone Commercial Space For Lease

      939 SF commercial space ideal for office, medical, or retail.
      150-12 14Th Ave, Whitestone, NY 11357
      View Details
    • Contact for pricing

      Whitestone Office Space For Lease

      Office space available for lease in Whitestone, NY.
      16-16 Whitestone Expressway, Whitestone, NY 11357
      View Details
    • $1,725 /Mo

      Office Space with High Ceilings

      Office space featuring high ceilings, conference room, and bathroom.
      14-17 150Th St, Queens, NY 11357
      View Details
    • New
      $4,800 /Mo

      Storefront Retail Space with Basement

      Storefront retail space with a basement and one bathroom on a busy Whitestone street.
      145-10 14Th Ave, Whitestone, NY 11357
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    • Contact for pricing
      62,000 SF

      Whitestone Plaza: Retail Space For Lease

      Prime Queens Retail Space - 62,000 SF Available
      153-01 10 Ave, Queens, NY 11357
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    • Contact for pricing
      18,110 SF

      Retail Space in Whitestone, NY

      Neighborhood center serving Whitestone, Bay Terrace, and Bayside.
      15317-15389 Cross Island Pkwy, Whitestone, NY 11357
      View Details
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    Flushing, NY 11357-1818
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    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
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