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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2028 Francis Lewis Blvd Whitestone, NY 11357-3908

    • Office buildings
    • 2,740 SF
    • 0.11 lot acres
    OFF-MARKET
    Value Estimations
    $1,070,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-0115688
    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

    • Swerdlin Steven D DDS / Dentist

    Property Details for 2028 Francis Lewis Blvd

    Year built
    1962
    Lot size
    0.11 lot acres
    Property size
    2,740 SF
    Zone code
    R3X
    Property type
    Office buildings
    APN
    04877-0024
    APU
    48770024

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,605,000
      6.5%
      $1,480,000
      7%
      $1,375,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Whitestone
    County
    Queens
    State
    New York
    Longitude
    -73.8024
    Latitude
    40.7794
    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
    $22,002
    $84,600
    $140,850
    $225,450
    -
    $188,000
    $313,000
    $501,000

    Comparable in this City

    • Value Estimation
      $1,400,000
      4,090 SF

      2455 Francis Lewis Blvd

      OFFICE BUILDING (MULTI-STORY) • 4,090 SF
      2455 Francis Lewis Blvd, Whitestone, NY 11357-4056
      View Details
    • Value Estimation
      $2,455,000
      2,934 SF

      14907 14th Ave

      OFFICE BUILDING (MULTI-STORY) • 2,934 SF
      14907 14th Ave, Flushing, NY 11357-1757
      View Details
    • Value Estimation
      $1,735,000
      2,250 SF

      14940 14th Ave

      OFFICE BUILDING (MULTI-STORY) • 2,250 SF
      14940 14th Ave, Flushing, NY 11357-1730
      View Details
    • Value Estimation
      $2,495,000
      7,200 SF

      1016 162nd St

      OFFICE BUILDING (MULTI-STORY) • 7,200 SF
      1016 162nd St, Flushing, NY 11357-2124
      View Details
    • Value Estimation
      $1,215,000
      3,950 SF

      15037 14th Ave

      OFFICE BUILDING (MULTI-STORY) • 3,950 SF
      15037 14th Ave, Flushing, NY 11357
      View Details
    • Value Estimation
      $2,730,000
      1,870 SF

      15118 6th Rd

      OFFICE BUILDING (MULTI-STORY) • 1,870 SF
      15118 6th Rd, Flushing, NY 11357-1207
      View Details

    Similar Nearby for Sale

    • $15,750,000

      Bayside Office Building For Sale

      Office building available for purchase in Bayside, New York.
      215 Boulevard N, Bayside, NY 11357
      View Details
    • $1,880,000
      4,202 SF

      Modern Commercial Building in Whitestone

      Well-maintained commercial building in a prime Whitestone location.
      15046 14Th Ave, Whitestone, NY 11357
      View Details
    • $1,400,000
      0.04 Acres

      Renovated Mixed-Use Whitestone Gem

      Fully renovated mixed-use property in the heart of Whitestone.
      1527 149Th St, Whitestone, NY 11357
      View Details
    • $1,580,000
      3,300 SF

      Community Facility in Whitestone

      Well-maintained 3,300 SF community facility in a busy corridor.
      143-11 Willets Point Blvd, Whitestone, NY 11357
      View Details
    • $998,000
      Pending

      Whitestone Duplex with Cottage

      Legal 2-family home with detached cottage on large lot.
      12-39 148Th St, Whitestone, NY 11357
      View Details
    • $1,350,000
      Pending

      Spacious Whitestone Duplex with Yard

      Bright 5-bedroom duplex with modern features and large backyard.
      154-11 17Th Ave, Whitestone, NY 11357
      View Details

    Similar Nearby for Lease

    • $2,450 /Mo
      950 SF

      Office Space in Whitestone, NY

      Office space available for rent in Whitestone, Queens.
      199-04 22Nd Ave, Whitestone, NY 11357
      View Details
    • Contact for pricing
      18,733 SF

      Prime Whitestone Executive Office Space

      18,733 SF Class A Office for Lease
      16-16 Whitestone Expy, Whitestone, NY 11357
      View Details
    • $1,725 /Mo

      Office Space with High Ceilings

      Office space featuring high ceilings, conference room, and bathroom.
      14-17 150Th St, Flushing, NY 11357
      View Details
    • Contact for pricing
      4,600 SF

      Bayside Office Space Available

      4,600 SF office space in heavily trafficked Bayside area.
      35-30 Francis Lewis Blvd, Bayside, NY 11357
      View Details
    • $2,000 /Mo

      Whitestone Commercial Space for Lease

      Office/storefront retail space in Whitestone, prime location, high visibility.
      16-05 Francis Lewis Blvd, Whitestone, NY 11357
      View Details
    • $3,913 /Mo
      6,251 SF

      Whitestone Commercial Space For Lease

      939 SF commercial space ideal for office, medical, or retail.
      150-12 14Th Ave, Whitestone, NY 11357
      View Details
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    Whitestone, NY 11357-3908
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    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
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