New search
Property profile & analytics
OFF-MARKET
Estimated value
$10,250,000
Warehouses
1940 42nd St, Long Island City, NY 11105-1113
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US63-1988449
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1986
Total area
100,028 SF
Lot
2.18 ac (95,048 SF)
Zoning code
M1-1
APN
00800-0010
UPID
US63-1988449
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
-
Arc Remanufacturing Inc Auto Parts Store
-
FDNY EMS Station 49 Ambulance Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$11.76M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$10.25M
Owner & transaction history
Arc Rebuilders INC. · 3 yrs held
Arc Rebuilders INC.
since 2023
7 recorded transactions
Zoning & alternative use
M1-1 · Long Island City, 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 Long Island City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Long Island City 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$12,735,000
6.5%
$11,755,000
7%
$10,915,000
Blend value · Realmo final
$10.25M
Range $9.23M – $11.28M · ±10%
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
$102 / 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
$498,271
Tax year 2024
Assessed value
$5,351,400
Assessed 2024
Previous assessed
$4,860,880
+10.1% YoY
Effective rate
9.31%
On assessed value
Assessed land
$3,420,900
Assessed improvement
$1,930,500
Land market value
$7,602,000
Improvement market value
$4,290,000
Total market value
$11,892,000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1986
Heating
NONE
Buildings
1
Stories
1
Units
3
Total area
100,028 SF
Lot
2.18 ac (95,048 SF)
Zoning code
M1-1
APN
00800-0010
UPID
US63-1988449
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M1-1 · Long Island City, NY
Zoning M1-1 · permitted uses
M1-1 · Long Island City, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Long Island City. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1986
Heating
NONE
Stories
1
Buildings
1
Units
3
Lot
2.18 ac
Current owner
From public records · entity-resolved
Arc Rebuilders INC.
Entity
Mailing address
1940 42ND ST, LONG ISLAND CITY, NY 11105-1113
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 9, 2023
—
Arc Rebuilders INC.
—
Deed
related
$1,886,747 · Hsbc Bank USA, National Association
May 15, 2018
—
Arc Rebuilders INC
—
Loan Modification
related
$1,500,000 · Hsbc Bk USA NA
—
—
Arc Rebuilders INC
—
Deed Of Trust
related
$1,750,000 · Hsbc Bank USA
—
—
Arc Rebuilders INC
—
Deed Of Trust
related
$2,500,000 · Sovereign Bank
—
—
Arc Rebuilders INC
—
Loan Modification
related
$845,000 · Hsbc Bk USA NA
—
—
Arc Rebuilders INC
—
Loan Modification
related
$379,166 · Hsbc Bk USA NA
—
—
Arc Rebuilders INC
—
Loan Modification
related
$4,000,000 · Hsbc Bk USA NA
—
—
Arc Rebuilders INC
—
Deed Of Trust
related
$2,450,000 · Commerce Bank NA
—
—
Arc Rebuilders INC
—
Deed Of Trust
related
$229,151 · Hsbc Bank USA
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 1940 42nd 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.
