Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    2049 119th St Flushing, NY 11356

    • Warehouses
    • 20,600 SF
    • 0.56 lot acres
    OFF-MARKET
    Value Estimations
    $770,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2856162
    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

    • Warehouses

    Property Details for 2049 119th St

    Year built
    1959
    Lot size
    0.56 lot acres
    Property size
    20,600 SF
    Zone code
    R4A
    Property type
    Warehouses
    APN
    04162-0001
    APU
    41620001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $760,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $938,000
      Market price range: $758k - $1.68M

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

    Location Insight

    • Map
    • Local Demand
    City
    Flushing
    County
    Queens
    State
    New York
    Longitude
    -73.8484
    Latitude
    40.7804
    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
    $98,197
    $286,650
    $707,850
    $994,500
    -
    $637,000
    $1,573,000
    $2,210,000

    Comparable in this City

    • Value Estimation by Request
      100,650 SF

      18-02 Petracca Pl

      Distribution properties • 100,650 SF
      18-02 Petracca Pl, College Point, NY 11356
      View Details
    • Value Estimation by Request
      72,048 SF

      13121 14th Ave

      WAREHOUSE, STORAGE • 72,048 SF
      13121 14th Ave, Flushing, NY 11356-1909
      View Details
    • Value Estimation
      $735,000
      32,210 SF

      1830 132nd St

      WAREHOUSE, STORAGE • 32,210 SF
      1830 132nd St, Flushing, NY 11356-2402
      View Details
    • Value Estimation
      $1,220,000
      3,675 SF

      11042 15th Ave

      WAREHOUSE, STORAGE • 3,675 SF
      11042 15th Ave, Flushing, NY 11356-1426
      View Details
    • Value Estimation
      $350,000
      5,000 SF

      2027 119th St

      WAREHOUSE, STORAGE • 5,000 SF
      2027 119th St, Flushing, NY 11356
      View Details
    • Value Estimation
      $405,000
      7,200 SF

      1813 128th St

      WAREHOUSE, STORAGE • 7,200 SF
      1813 128th St, Flushing, NY 11356-2338
      View Details

    Similar Nearby for Sale

    • $2,950,000
      6,000 SF

      College Point Industrial Warehouse Building

      6,000+-SqFt industrial warehouse with office space in College Point.
      14-24 118Th St, College Point, NY 11356
      View Details
    • $5,000,000

      Three-Story Warehouse in College Point

      Three-story fireproof warehouse in College Point with excellent visibility.
      1407 113Th St, College Point, NY 11356
      View Details
    • $2,950,000
      7,500 SF

      Mixed-Use Building in College Point

      Two-story building suitable for warehouse, office, or retail use.
      12214 15Th Ave, College Point, NY 11356
      View Details
    • $1,490,000

      Income-Producing Warehouse in College Point

      Two warehouse units in Queens, generating $87,000 annual income.
      12409 18Th Ave, Flushing, NY 11356
      View Details
    • Contact for pricing
      57,200 SF

      Queens Warehouse: 57,200 SF

      Spacious industrial warehouse, ideal for various uses.
      122-115 15 Ave, Queens, NY 11356
      View Details
    • $2,700,000
      2,000 SF

      College Point Multi-Unit Warehouse

      Multi-unit residential and warehouse property in College Point, Queens.
      110-01 15Th Ave, College Point, NY 11356
      View Details

    Similar Nearby for Lease

    • $5,000 /Mo
      2,000 SF

      College Point Commercial Space Available

      Prime College Point location, suitable for diverse commercial uses.
      18-05 124Th St, College Point, NY 11356
      View Details
    • Contact for pricing
      33,000 SF

      Industrial Space with City Views

      33,000 SF industrial space featuring city views and parking.
      113-25 14Th Ave, College Point, NY 11356
      View Details
    • $18,000 /Mo

      College Point Warehouse Space Available

      Warehouse space for rent in prime College Point location.
      22-30 119Th St, Flushing, NY 11356
      View Details
    • $6,998 /Mo
      24,999 SF

      College Point Warehouse/Office Space

      Second-floor space suitable for office or warehouse use.
      22-26 119Th St, College Point, NY 11356
      View Details
    • $4,800 /Mo
      9,000 SF

      Renovated Warehouse in Flushing, NY

      Newly renovated warehouse with high ceilings and easy access.
      11001 15Th Ave, Flushing, NY 11356
      View Details
    • $13,500 /Mo
      5,285 SF

      College Point Warehouse Space Available

      5,285 SF warehouse with drive-in gate and mezzanine offices.
      1839 128Th St, College Point, NY 11356
      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.
    2049 119th St
    Flushing, NY 11356
    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.