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Property profile & analytics
FOR LEASE
Manufacturing properties
24-26 47Th St Queens, NY 11103
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US63-1018180
For Lease
1 / 6
$3,705,000
24-26 47Th St, Queens, NY 11103
View Listing →
Property profile
Verified
Property type
Manufacturing properties
Use group
FACTORY (MANUFACTURING)
Year built
1953
Total area
10,900 SF
Lot
0.13 ac (5,465 SF)
Zoning code
M1-1
APN
00732-0045
UPID
US63-1018180
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
-
Urban Abbey Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.76M
CAP Approach
CAP
$2.38M
Comparable Approach
Comparable
$4.88M
Blend (final)
Blend
$3.71M
Owner & transaction history
24-26 47th Street Ast LLC · 5 yrs held
24-26 47th Street Ast LLC
since 2020
Last sale
$3.7M
3 recorded transactions
Zoning & alternative use
M1-1 · Long Island City, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.4M
+21.9%
Office building
$3.9M
+8.5%
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
$3,720,000
ML approach
$3,760,000
CAP Approach
CAP Return
Estimation
6%
$2,580,000
6.5%
$2,380,000
7%
$2,210,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$3,630,000
Current use
COMMERCIAL (GENERAL)
$4,425,000
Change: +22% · Conversion: Difficult
OFFICE BUILDING
$3,940,000
Change: +9% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,360,000
Change: -7% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$3,335,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$3.71M
Range $3.33M – $4.08M · ±10% · vs last sale $3.68M (Sep 17 2020)
Last sale anchor
$3.68M
Sep 17 2020
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
$340 / 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
$78,741
Tax year 2024
Assessed value
$743,400
Assessed 2024
Previous assessed
$719,100
+3.4% YoY
Effective rate
10.59%
On assessed value
Assessed land
$184,500
Assessed improvement
$558,900
Land market value
$410,000
Improvement market value
$1,242,000
Total market value
$1,652,000
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
Manufacturing properties
Use group
FACTORY (MANUFACTURING)
Status
For Lease
Year built
1953
Heating
NONE
Buildings
1
Stories
2
Units
1
Total area
10,900 SF
Lot
0.13 ac (5,465 SF)
Zoning code
M1-1
APN
00732-0045
UPID
US63-1018180
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M1-1 · Long Island City, NY
Zoning M1-1 · permitted uses
M1-1 · 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
INDUSTRIAL (GENERAL) Current
Est. value
$3.6M
COMMERCIAL (GENERAL)
Est. value
$4.4M
OFFICE BUILDING
Est. value
$3.9M
WAREHOUSE, STORAGE
Est. value
$3.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.3M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
WAREHOUSE, STORAGE
APARTMENT HOUSE (5+ UNITS)
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
1953
Heating
NONE
Stories
2
Buildings
1
Units
1
Lot
0.13 ac
Current owner
From public records · entity-resolved
24-26 47th Street Ast LLC
Entity
Mailing address
777 S FIGUEROA ST #41, LOS ANGELES, CA 90017-5800
Ownership since
2020
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
Jul 23, 2021
—
24-26 47th Street Ast LLC
—
Deed
related
$5,260,937 · Goldman Sachs Bank USA
Sep 17, 2020
$3,675,000
24-26 47th Street Ast LLC
Cjh Property Management LLC
Grant Deed
—
Sep 17, 2020
—
Cjh Property Management LLC
Pilot Products INC
Grant Deed
—
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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