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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1600 Central Ave Far Rockaway, NY 11691-4000

    • Office buildings
    • 31,200 SF
    • 0.67 lot acres
    OFF-MARKET
    Value Estimations
    $10,080,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-5866544
    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.

    Current Use by Public Records

    • Raghuram Ballambattu Bhat, MD / Psychiatrist
    • Dr. Sharon A. Lowe, MD / Doctor
    • Fortress Insurance Brokerage / Insurance Broker
    • La Iglesia de Jesucristo de los Santos de los Últimos Días / Christian Church / Church Of Jesus Christ Of Latter-Day Saints
    • Mary Byrnes, LCSW / Social Worker

    Property Details for 1600 Central Ave

    Year built
    1930
    Lot size
    0.67 lot acres
    Property size
    31,200 SF
    Zone code
    R7-1
    Property type
    Office buildings
    APN
    15537-0147
    APU
    155370147

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $14,115,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Far Rockaway
    County
    Queens
    State
    New York
    Longitude
    -73.7523
    Latitude
    40.6054
    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
    $217,673
    $522,000
    $1,641,150
    $2,163,150
    -
    $1,160,000
    $3,647,000
    $4,807,000

    Comparable in this City

    • Value Estimation
      $3,440,000
      7,268 SF

      1815 Cornaga Ave

      OFFICE BUILDING (MULTI-STORY) • 7,268 SF
      1815 Cornaga Ave, Far Rockaway, NY 11691-4305
      View Details
    • Value Estimation
      $1,045,000
      5,058 SF

      1923 Cornaga Ave

      OFFICE BUILDING (MULTI-STORY) • 5,058 SF
      1923 Cornaga Ave, Far Rockaway, NY 11691
      View Details
    • Value Estimation
      $1,140,000
      3,294 SF

      1292 Central Ave

      PROFESSIONAL BUILDING • 3,294 SF
      1292 Central Ave, Far Rockaway, NY 11691
      View Details
    • Value Estimation
      $990,000
      4,500 SF

      238 Bch 20th St

      PROFESSIONAL BUILDING • 4,500 SF
      238 Bch 20th St, Far Rockaway, NY 11691-3627
      View Details
    • Value Estimation
      $1,560,000
      4,575 SF

      1288 Central Ave

      OFFICE BUILDING (MULTI-STORY) • 4,575 SF
      1288 Central Ave, Far Rockaway, NY 11691-3909
      View Details
    • Value Estimation
      $4,435,000
      20,983 SF

      1847 Mott Ave

      OFFICE BUILDING (MULTI-STORY) • 20,983 SF
      1847 Mott Ave, Far Rockaway, NY 11691-4220
      View Details

    Similar Nearby for Sale

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      0.09 Acres

      Development Opportunity in Far Rockaway

      Two vacant lots with potential in a growing neighborhood.
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      Luxury two-family townhouse complex with ocean views and private beach access.
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      43,867 SF

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      43,867 SF renovated warehouse with air conditioning and heavy power.
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    • $2,975,000
      9,800 SF

      Mixed-Use Building in Rockaway Park

      9,800 SF mixed-use building with retail and residential space.
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      New construction two-family house with private driveway.
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    Similar Nearby for Lease

    • Contact for pricing
      3,800 SF

      Far Rockaway Commercial Space Available

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      37,200 SF

      Prime Far Rockaway Office Space

      Spacious Executive Suites, 37,200 SF Available
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    • Contact for pricing
      6,525 SF

      New Construction Medical/Office Space

      New construction medical/office space with ample parking and visibility.
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    • Contact for pricing
      5,700 SF

      Prime Queens Executive Office Space

      New Construction, 5,700 SF, Ample Parking
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    • $7,500 /Mo

      Prime Corner Location with Elevator

      7000 sq ft corner space, ideal for medical facility.
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      View Details
    • Contact for pricing
      2,447 SF

      Retail Space in Downtown Far Rockaway

      Retail space for rent in a high-traffic Far Rockaway location.
      1047 Beach 21St St, Far Rockaway, NY 11691
      View Details
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    1600 Central Ave
    Far Rockaway, NY 11691-4000
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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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