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Property profile & analytics
OFF-MARKET
Estimated value
$3,440,000
Office buildings
1815 Cornaga Ave, Far Rockaway, NY 11691-4305
Entity Owned
1-yr Hold
Free & Clear
Property ID
US63-2632423
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1962
Total area
7,268 SF
Lot
0.26 ac (11,300 SF)
Zoning code
R6
APN
15563-0016
UPID
US63-2632423
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
Current use
Occupant on record · Public records
-
Long Term Home Health Care Home Health Care Service
-
Center For Nursing & Rehab Home Health Care Service
-
Seagirt Adult Daycare Adult Day Care
-
Super Nails Hair Salon Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.01M
CAP Approach
CAP
$3.93M
Comparable Approach
Comparable
$3.26M
Blend (final)
Blend
$3.44M
Owner & transaction history
1815 Cornaga LLC · 1 yrs held
1815 Cornaga LLC
since 2025
Last sale
$3.7M
4 recorded transactions
Zoning & alternative use
R6 · Far Rockaway, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$3,150,000
ML approach
$3,005,000
CAP Approach
CAP Return
Estimation
6%
$4,255,000
6.5%
$3,925,000
7%
$3,645,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,975,000
Current use
RETAIL STORES
$3,290,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$3.44M
Range $3.10M – $3.78M · ±10% · vs last sale $3.65M (Apr 4 2025)
Last sale anchor
$3.65M
Apr 4 2025
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
$473 / 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
$35,128
Tax year 2024
Assessed value
$331,650
Assessed 2024
Previous assessed
$327,600
+1.2% YoY
Effective rate
10.59%
On assessed value
Assessed land
$92,250
Assessed improvement
$239,400
Land market value
$205,000
Improvement market value
$532,000
Total market value
$737,000
Applied tax rate
4.0000
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1962
Heating
NONE
Buildings
1
Stories
2
Units
1
Total area
7,268 SF
Lot
0.26 ac (11,300 SF)
Zoning code
R6
APN
15563-0016
UPID
US63-2632423
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R6 · Far Rockaway, NY
Zoning R6 · permitted uses
R6 · 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 Current
Est. value
$4.0M
RETAIL STORES
Est. value
$3.3M
OFFICE BUILDING Current
RETAIL STORES
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
1962
Heating
NONE
Stories
2
Buildings
1
Units
1
Lot
0.26 ac
Current owner
From public records · entity-resolved
1815 Cornaga LLC
Entity
Free & Clear · 1 yrs held
Mailing address
5151 FISHER IS DR, MIAMI BEACH, FL 33109-0231
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 24, 2025
—
1815 Cornaga LLC
1815 Cornaga LLC
Deed
related
—
Apr 4, 2025
$3,650,000
1815 Cornaga LLC
Roc 1815 Realty LLC
Deed
$2,812,500 · Grasshopper Bank, N.a.
Apr 26, 2017
—
Roc 1815 Realty LLC
—
Deed
related
$1,725,000 · Td Bank, N A
Dec 23, 2015
—
Roc 1815 Realty LLC
Roc Realty Corp
Quit Claim Deed
—
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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