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Property profile & analytics
FOR SALE
Investment properties
228-02 Merrick Blvd Queens, NY 11413
Entity Owned
16-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US63-0956575
For Sale
1 / 2
$15,000,000
228-02 Merrick Blvd, Queens, NY 11413
View Listing →
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
2016
Total area
21,445 SF
Lot
0.23 ac (10,000 SF)
Zoning code
R3-2
APN
13155-0030
UPID
US63-0956575
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
$4.25M
Comparable Approach
Comparable
$3.61M
Blend (final)
Blend
$4.24M
Owner & transaction history
Merrick Rental LLC · 16 yrs held
Merrick Rental LLC
since 2010
7 recorded transactions
Zoning & alternative use
R3-2 · Laurelton, 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 Queens submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Queens 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%
$4,600,000
6.5%
$4,245,000
7%
$3,945,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$6,685,000
Current use
Blend value · Realmo final
$4.24M
Range $3.82M – $4.66M · ±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
$198 / 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
$229,361
Tax year 2024
Assessed value
$2,228,400
Assessed 2024
Previous assessed
$2,093,266
+6.5% YoY
Effective rate
10.29%
On assessed value
Assessed land
$337,500
Assessed improvement
$1,890,900
Land market value
$750,000
Improvement market value
$4,202,000
Total market value
$4,952,000
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
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
For Sale
Year built
2016
Heating
NONE
Buildings
1
Stories
2
Units
5
Total area
21,445 SF
Lot
0.23 ac (10,000 SF)
Zoning code
R3-2
APN
13155-0030
UPID
US63-0956575
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R3-2 · Laurelton, NY
Zoning R3-2 · permitted uses
R3-2 · Laurelton, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Laurelton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$6.7M
COMMERCIAL (GENERAL) Current
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
2016
Heating
NONE
Stories
2
Buildings
1
Units
5
Lot
0.23 ac
Current owner
From public records · entity-resolved
Merrick Rental LLC
Entity
Mailing address
14327 84TH AVE, JAMAICA, NY 11435-2132
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 24, 2023
—
Merrick Rental LLC
—
Deed
related
$270,000 · Waterman Bank
Mar 3, 2021
—
Merrick Rental LLC
—
Deed
related
$430,000 · Edgewood V Funding LLC
Oct 15, 2020
—
Merrick Rental LLC
—
Deed
related
$225,000 · Psg 318 W 113 Spv LLC
Oct 28, 2019
—
Merrick Rental LLC
—
Deed
related
$2,175,000 · Psg 318 W 113 Spv LLC
Mar 16, 2018
—
Merrick Rental LLC
—
Trustees Deed
related
$2,000,000 · Psg 318 W 113 Spv LLC
Feb 24, 2010
—
Merrick Rental LLC
Ahmad,qasim S
Grant Deed
—
Nov 28, 2008
$100,000
Aref A Ali
Mousa,saleh
Grant Deed
$66,000 · Saleh Mousa
Jan 24, 2008
$180,000
Zain Munassar
Mahdi,fahdel H
Grant Deed
$100,000 · Fahdel H Mahdi
—
—
Merrick Rental LLC
—
Loan Modification
related
$2,175,000 · Psg 318 W 113 Spv LLC
—
—
Merrick Rental LLC
—
Deed Of Trust
related
$175,000 · Psg 318 W 113 Spv LLC
—
—
Merrick Rental LLC
—
Loan Modification
related
$2,400,000 · Psg 318 W 113 Spv LLC
—
—
Merrick Rental LLC
—
Deed Of Trust
related
$225,000 · Psg 318 W 113 Spv LLC
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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