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Property profile & analytics
OFF-MARKET
Estimated value
$2,125,000
Retail space
21795 Hempstead Ave, Jamaica, NY 11429-1228
Entity Owned
~
Est. High Equity
Property ID
US63-0110778
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2009
Total area
6,688 SF
Lot
0.15 ac (6,320 SF)
Zoning code
R3-2
APN
10764-0021
UPID
US63-0110778
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
-
E & J Tropical Jerk & Seafood Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.10M
CAP Approach
CAP
$1.84M
Comparable Approach
Comparable
$2.77M
Blend (final)
Blend
$2.13M
Owner & transaction history
217-95 Hempstead 1 LLC
217-95 Hempstead 1 LLC
since 2025
Last sale
$2.2M
7 recorded transactions
Zoning & alternative use
R3-2 · Jamaica, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$3.2M
+11.5%
Warehouse, storage
$3.0M
+3.6%
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 Jamaica submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Jamaica 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
$2,100,000
ML approach
$2,100,000
CAP Approach
CAP Return
Estimation
6%
$1,990,000
6.5%
$1,835,000
7%
$1,705,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,880,000
Current use
INDUSTRIAL (GENERAL)
$3,210,000
Change: +12% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,980,000
Change: +4% · Conversion: Difficult
OFFICE BUILDING
$2,475,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$2.13M
Range $1.91M – $2.34M · ±10% · vs last sale $2.15M (May 7 2025)
Last sale anchor
$2.15M
May 7 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
$318 / 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
$45,042
Tax year 2024
Assessed value
$524,700
Assessed 2024
Previous assessed
$461,520
+13.7% YoY
Effective rate
8.58%
On assessed value
Assessed land
$113,850
Assessed improvement
$410,850
Land market value
$253,000
Improvement market value
$913,000
Total market value
$1,166,000
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
2009
Heating
NONE
Buildings
1
Stories
1
Units
6
Total area
6,688 SF
Lot
0.15 ac (6,320 SF)
Zoning code
R3-2
APN
10764-0021
UPID
US63-0110778
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R3-2 · Jamaica, NY
Zoning R3-2 · permitted uses
R3-2 · Jamaica, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Jamaica. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.9M
INDUSTRIAL (GENERAL)
Est. value
$3.2M
WAREHOUSE, STORAGE
Est. value
$3.0M
OFFICE BUILDING
Est. value
$2.5M
RETAIL STORES Current
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
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
2009
Heating
NONE
Stories
1
Buildings
1
Units
6
Lot
0.15 ac
Current owner
From public records · entity-resolved
217-95 Hempstead 1 LLC
Entity
Mailing address
221 GRV AVE, CEDARHURST, NY 11516-1715
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 7, 2025
$2,150,000
217-95 Hempstead 1 LLC
Hempstead 217 LLC
Deed
—
Mar 22, 2024
$2,100,000
Hempstead 217 LLC
New Hempstead LLC
Deed
—
Aug 28, 2014
—
New Hempstead LLC
223 Merrick Corp
Deed
$226,727 · New York Community Bank
Sep 29, 2011
—
223 Merrick Corp
Beach Channel Acquisitions INC
Grant Deed
—
Jun 17, 2011
—
147 Brewer Corp
—
Deed Of Trust
related
$3,000,000 · Country Bank
Sep 5, 2007
$800,000
Beach Channel Acquisitions INC
Turnpike Development Ltd
Grant Deed
$630,000 · Paf Capital LLC Paf Capital LLC
Feb 6, 2006
$640,000
Turnpike Development Ltd
Nahel Realty Ltd
Grant Deed
$400,000 · Clinton Graham
—
—
New Hempstead LLC
—
Loan Modification, Consolidation And Extension
related
$1,240,000 · New York Cmnty Bk
—
—
147 Brewer Corp
—
Loan Modification, Consolidation And Extension
related
$2,813,273 · New York Cmnty Bk
—
—
Beach Channel Acquisitions INC
—
Deed Of Trust
related
$130,909 · Country Bank
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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