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Property profile & analytics
OFF-MARKET
Estimated value
$1,495,000
Retail residential properties
2401 31st St, Long Island City, NY 11102-1167
Entity Owned
9-yr Hold
Free & Clear
Property ID
US63-3648487
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1931
Total area
7,500 SF
Lot
0.05 ac (2,000 SF)
Zoning code
C4-4
APN
00837-0048
UPID
US63-3648487
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
-
2401 Gourmet Deli Grocery Food Market Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.49M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.50M
Owner & transaction history
Israel Asher LLC · 9 yrs held
Israel Asher LLC
since 2016
6 recorded transactions
Zoning & alternative use
C4-4 · Long Island City, 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 Long Island City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Long Island City 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%
$1,610,000
6.5%
$1,485,000
7%
$1,380,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,310,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$1.50M
Range $1.35M – $1.64M · ±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
$199 / 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
$29,637
Tax year 2024
Assessed value
$860,400
Assessed 2024
Previous assessed
$219,551
+291.9% YoY
Effective rate
3.44%
On assessed value
Assessed land
$14,850
Assessed improvement
$845,550
Land market value
$33,000
Improvement market value
$1,879,000
Total market value
$1,912,000
Applied tax rate
2.0000
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 residential properties
Use group
STORES & APARTMENTS
Status
Off-Market
Year built
1931
Heating
NONE
Buildings
1
Stories
4
Units
8
Total area
7,500 SF
Lot
0.05 ac (2,000 SF)
Zoning code
C4-4
APN
00837-0048
UPID
US63-3648487
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C4-4 · Long Island City, NY
Zoning C4-4 · permitted uses
C4-4 · Long Island City, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Long Island City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE
Est. value
$2.3M
WAREHOUSE, STORAGE
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
1931
Heating
NONE
Stories
4
Buildings
1
Units
8
Lot
0.05 ac
Current owner
From public records · entity-resolved
Israel Asher LLC
Entity
Free & Clear · 9 yrs held
Mailing address
2401 31ST ST, LONG ISLAND CITY, NY 11102-1167
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2016
$400,000
Israel Asher LLC
Lelekakis,elaine
Grant Deed
—
Oct 14, 2016
—
Israel Asher LLC
Lelekakis,elaine
Grant Deed
—
Aug 13, 2014
$1,665,000
Israel Asher LLC
Voyiatgis James
Grant Deed
—
Jun 13, 2011
—
James Voyiatgis
Voyiatgis George
Quit Claim Deed
—
Apr 11, 2005
—
Elaine Lelekakis
Lelekakis,elaine
Quit Claim Deed
related
—
Jan 6, 2005
—
Elaine Lelekakis
Elaine Lelekakis
Intrafamily Transfer
related
$309,353 · Emigrant Funding Corp
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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