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Property profile & analytics
OFF-MARKET
Retail space
227 Bch 116th St Far Rockaway, NY 11694-2102
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US63-1017965
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1930
Total area
1,161 SF
Lot
0.05 ac (2,000 SF)
Zoning code
R5B
APN
16212-0026
UPID
US63-1017965
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
223-227 Beach 116 LLC · 4 yrs held
223-227 Beach 116 LLC
since 2022
Last sale
$970,000
3 recorded transactions
Zoning & alternative use
R5B · Far Rockaway, 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 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$10,324
Tax year 2024
Assessed value
$99,450
Assessed 2024
Previous assessed
$96,300
+3.3% YoY
Effective rate
10.38%
On assessed value
Assessed land
$49,500
Assessed improvement
$49,950
Land market value
$110,000
Improvement market value
$111,000
Total market value
$221,000
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
1930
Heating
NONE
Buildings
1
Stories
1
Units
1
Total area
1,161 SF
Lot
0.05 ac (2,000 SF)
Zoning code
R5B
APN
16212-0026
UPID
US63-1017965
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.
Building & site characteristics
From public records
Year built
1930
Heating
NONE
Stories
1
Buildings
1
Units
1
Lot
0.05 ac
Current owner
From public records · entity-resolved
223-227 Beach 116 LLC
Entity
Mailing address
179 BCH 138TH ST, FAR ROCKAWAY, NY 11694-1337
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 23, 2022
$970,000
223-227 Beach 116 LLC
Iris Meyer, As Trustee
Deed
$727,500 · Insource Funding Corp.
Jun 7, 2005
—
Meyer Iris Trust
Meyer,louis
Quit Claim Deed
related
—
—
—
Iris Meyer
—
Loan Modification
related
$202,500 · Us Small Business Admn
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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