Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    17231 Highland Ave, Unit 2B Jamaica, NY 11432-2809

    • Office Properties & Spaces
    • 574 SF
    OFF-MARKET
    Last Sale
    Dec 03, 2024
    $180,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1997325
    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

    • Office Properties & Spaces

    Property Details for 17231 Highland Ave

    Property size
    574 SF
    Zone code
    R5
    Property type
    Office Properties & Spaces
    APN
    09882-1031
    APU
    98821031

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Jamaica
    County
    Queens
    State
    New York
    Longitude
    -73.7902
    Latitude
    40.7136
    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
    $9,711
    $37,121
    $66,150
    $103,271
    -
    $82,491
    $147,000
    $229,491

    Comparable in this City

    • Value Estimation by Request
      853 SF

      18016 Wexford Ter

      OFFICE (GENERAL) • 853 SF
      18016 Wexford Ter, Jamaica, NY 11432-3000
      View Details
    • Value Estimation by Request
      743 SF

      18016 Wexford Ter Ste Cc

      OFFICE (GENERAL) • 743 SF
      18016 Wexford Ter Ste Cc, Jamaica, NY 11432-3004
      View Details
    • Value Estimation
      $1,825,000
      1,067 SF

      17836 Wexford Ter, Unit 2C

      OFFICE (GENERAL) • 1,067 SF
      17836 Wexford Ter, Jamaica, NY 11432-3028
      View Details
    • Value Estimation
      $780,000
      6,013 SF

      8820 Parsons Blvd, Unit C1

      OFFICE (GENERAL) • 6,013 SF
      8820 Parsons Blvd, Jamaica, NY 11432-3976
      View Details
    • Value Estimation by Request
      3,161 SF

      8712 175th St2a

      OFFICE (GENERAL) • 3,161 SF
      8712 175th St2a, Jamaica, NY 11432-5776
      View Details
    • Value Estimation by Request
      30,000 SF

      80-15 164 St

      Medical offices • 30,000 SF
      80-15 164 St, Queens, NY 11432
      View Details

    Similar Nearby for Sale

    • $12,900,000
      30,000 SF

      Queens Office Building Investment

      30,000 SF, 45 parking spaces, high NOI.
      80-15 164 St, Queens, NY 11432
      View Details
    • $7,250,000
      9,670 SF

      Mixed-Use Building in Jamaica, NY

      Mixed-use building with office, retail, and parking in Jamaica.
      170-08 Jamaica Ave, Jamaica, NY 11432
      View Details
    • $3,500,000

      Jamaica Two-Family Home with Office

      Two-family home with doctor's office in basement, convenient location.
      85-14 168Th St, Jamaica, NY 11432
      View Details
    • $12,900,000
      0.08 Acres

      Medical Building Near NYU Langone

      30,500 Sq.Ft. medical building with parking in Jamaica, Queens.
      8015 164Th Pl, Jamaica, NY 11432
      View Details
    • $1,689,000
      0.04 Acres

      Mixed-Use Property Near Subway

      Mixed-use property with medical office and apartments near transportation.
      182-36 Hillside Ave, Jamaica, NY 11432
      View Details
    • $1,645,000
      0.04 Acres

      Mixed-Use Property Near Hillside Avenue

      Mixed-use property with medical office and apartments near transportation.
      182-34 Hillside Ave, Jamaica, NY 11432
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,000 SF

      Jamaica Ave Retail/Office Space

      Prime Queens location, 5,000 sq ft available.
      162-24 Jamaica Ave, Jamaica, NY 11432
      View Details
    • $19,792 /Mo
      9,500 SF

      Versatile Space in Jamaica, NY

      9,500 sq ft space in a vibrant, growing neighborhood.
      89-48 164Th St, Jamaica, NY 11432
      View Details
    • Contact for pricing
      4,870 SF

      Prime Queens Medical Office Space

      1-Story Medical Office, 4,870 SF Available
      168-12 Un Tpke, Queens, NY 11432
      View Details
    • $2,000 /Mo

      Office Space for Rent

      Office space with seating, computer connection, close to transport.
      186-06 Jamaica Ave Unit, Hollis, NY 11432
      View Details
    • $10,900 /Mo

      Adaptable Medical/Retail Space in Queens

      Highly visible medical or retail space in Jamaica, Queens.
      87-16 Avon St, Jamaica, NY 11432
      View Details
    • $3,800 /Mo
      1,500 SF

      Functional Office Space with Amenities

      Equipped office space featuring kitchen, bathrooms, and modern conveniences.
      8780 Parsons Blvd, Jamaica, NY 11432
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    17231 Highland Ave, Unit 2B
    Jamaica, NY 11432-2809
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.