New search
Property profile & analytics
OFF-MARKET
Estimated value
$4,500,000
Retail space
186 Bch 116th St, Far Rockaway, NY 11694-2410
Entity Owned
2-yr Hold
Free & Clear
Property ID
US63-2329977
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1929
Total area
5,400 SF
Lot
0.14 ac (6,000 SF)
Zoning code
R5B
APN
16188-0078
UPID
US63-2329977
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.50M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.50M
Owner & transaction history
Beach 116 Partners LLC · 2 yrs held
Beach 116 Partners LLC
since 2024
Last sale
$4.5M
7 recorded transactions
Zoning & alternative use
R5B · Far Rockaway, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$6.6M
+168.4%
Office building
$3.0M
+20.9%
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
$4,500,000
ML approach
$4,500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$6,555,000
Change: +168% · Conversion: Difficult
OFFICE BUILDING
$2,955,000
Change: +21% · Conversion: Easy
Blend value · Realmo final
$4.50M
Range $4.05M – $4.95M · ±10% · vs last sale $4.50M (May 1 2024)
Last sale anchor
$4.50M
May 1 2024
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
$833 / 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
$24,023
Tax year 2024
Assessed value
$226,800
Assessed 2024
Previous assessed
$215,100
+5.4% YoY
Effective rate
10.59%
On assessed value
Assessed land
$108,000
Assessed improvement
$118,800
Land market value
$240,000
Improvement market value
$264,000
Total market value
$504,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1929
Heating
NONE
Buildings
1
Stories
1
Units
3
Total area
5,400 SF
Lot
0.14 ac (6,000 SF)
Zoning code
R5B
APN
16188-0078
UPID
US63-2329977
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R5B · Far Rockaway, NY
Zoning R5B · permitted uses
R5B · 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
AUTO REPAIR, GARAGE
Est. value
$6.6M
OFFICE BUILDING
Est. value
$3.0M
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1929
Heating
NONE
Stories
1
Buildings
1
Units
3
Lot
0.14 ac
Current owner
From public records · entity-resolved
Beach 116 Partners LLC
Entity
Free & Clear · 2 yrs held
Mailing address
14718 HILLSIDE AVE, JAMAICA, NY 11435-3329
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 1, 2024
$4,500,000
Beach 116 Partners LLC
Elms Realty LLC
Deed
—
Sep 26, 2019
—
Elms Realty LLC
—
Deed
related
$1,446,997 · Dime Cmnty Bk
Aug 7, 2019
—
Elms Realty LLC
—
Deed
related
$1,600,000 · Dime Cmnty Bk
—
—
Elms Realty LLC
—
Deed Of Trust
related
$765,745 · Dime Svgs Bk/williamsburgh
—
—
Ctrl Svgs Bk First
—
Loan Modification
related
$1,400,000 · Elms Realty LLC
—
—
Elms Realty LLC
—
Loan Modification
related
$1,446,997 · Dime Cmnty Bk
—
—
Elms Realty LLC
—
Loan Modification
related
$1,600,000 · Dime Cmnty Bk
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 186 Bch 116th St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
