1615 Palmetto St Flushing, NY 11385-2729
Individually Owned
Absentee Owner
Free & Clear
Estimated value (blended)
$255k
Range $230k – $281k (±10%)
Property ID
US63-3625043
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1971
Total area
550 SF
Lot
0.01 ac (578 SF)
Zoning code
C4-3
APN
03444-0027
UPID
US63-3625043
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Bakery Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$255k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$255k
Owner & transaction history
since 2026
Last sale
$370,000
1 recorded transaction
Zoning & alternative use
C4-3 · Flushing, NY
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 5 comparables with addresses
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$255k
Value range
$230k – $281k
±10% around blend
Estimated value / SF
$464 / SF
Confidence
High
5 county-verified comps
Property data
88
Market benchmarks
67
Comparable evidence
50
$230k
blend $255k
$281k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
550 SF
Lot area
0.01 ac
Year built
1971
Stories
1
APN
03444-0027
Assessed value
$42,300
Annual tax
$4,204
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$466k
Weighted, 5 comps · high confidence
Evidence
5 found · 5 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
5.5 mi away · 560 SF
5.8 mi away · 395 SF
11.3 mi away · 600 SF
14.5 mi away · 703 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$255k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 185 sales
$741
-37%
County 394 sales
$576
-19%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $464/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 5 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$370k
Move the market yield to see immediate price impact.
Value / SF
$673
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$23k
$466k
$333k
$259k
$26k
$518k
$370k
$288k
$28k
$570k
$407k
$317k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
5 found
High confidence · county-verified
Closest comparable
$525k
2.9 mi · Nov 2025 · $1,067/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$4,204
Tax year 2024
Assessed value
$42,300
Assessed 2024
Previous assessed
$38,970
+8.5% YoY
Effective rate
9.94%
On assessed value
Assessed land
$9,000
Assessed improvement
$33,300
Land market value
$20,000
Improvement market value
$74,000
Total market value
$94,000
Applied tax rate
4.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1971
Heating
NONE
Buildings
1
Stories
1
Units
1
Total area
550 SF
Lot
0.01 ac (578 SF)
Zoning code
C4-3
APN
03444-0027
UPID
US63-3625043
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C4-3 · Flushing, NYZoning C4-3 · permitted uses
C4-3 · Flushing, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1971
Heating
NONE
Stories
1
Buildings
1
Units
1
Lot
0.01 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
C4-3
Jurisdiction
Flushing, NY
Recorded code
C4-3
Ownership Intelligence
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Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
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