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Property profile & analytics
OFF-MARKET
Estimated value
$2,805,000
Manufacturing properties
2481 47th St Long Island City, NY 11103-1009
Entity Owned
1-yr Hold
Free & Clear
Property ID
US63-2054292
Property profile
Verified
Property type
Manufacturing properties
Use group
FACTORY (MANUFACTURING)
Year built
1933
Total area
5,000 SF
Lot
0.11 ac (5,000 SF)
Zoning code
M1-1
APN
00733-0011
UPID
US63-2054292
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
$2.78M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.27M
Blend (final)
Blend
$2.81M
Owner & transaction history
Bushwick Properties 1951 LLC · 1 yrs held
Bushwick Properties 1951 LLC
since 2024
Last sale
$3.9M
2 recorded transactions
Zoning & alternative use
M1-1 · Long Island City, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.4M
+105.6%
Retail stores
$2.9M
+76.3%
Commercial (general)
$2.0M
+21.9%
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
$2,880,000
ML approach
$2,775,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$3,425,000
Change: +106% · Conversion: Easy
RETAIL STORES
$2,935,000
Change: +76% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,030,000
Change: +22% · Conversion: Difficult
OFFICE BUILDING
$1,805,000
Change: +9% · Conversion: Difficult
Blend value · Realmo final
$2.81M
Range $2.52M – $3.09M · ±10% · vs last sale $3.90M (Jan 6 2023)
Last sale anchor
$3.90M
Jan 6 2023
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
$561 / 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
$36,654
Tax year 2024
Assessed value
$346,050
Assessed 2024
Previous assessed
$367,830
-5.9% YoY
Effective rate
10.59%
On assessed value
Assessed land
$84,600
Assessed improvement
$261,450
Land market value
$188,000
Improvement market value
$581,000
Total market value
$769,000
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
Off-Market
Year built
1933
Heating
NONE
Buildings
1
Stories
1
Units
1
Total area
5,000 SF
Lot
0.11 ac (5,000 SF)
Zoning code
M1-1
APN
00733-0011
UPID
US63-2054292
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
AUTO REPAIR, GARAGE
Est. value
$3.4M
RETAIL STORES
Est. value
$2.9M
COMMERCIAL (GENERAL)
Est. value
$2.0M
OFFICE BUILDING
Est. value
$1.8M
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
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
1933
Heating
NONE
Stories
1
Buildings
1
Units
1
Lot
0.11 ac
Current owner
From public records · entity-resolved
Bushwick Properties 1951 LLC
Entity
Free & Clear · 1 yrs held
Mailing address
94 COUNTRY CLB DR, PORT WASHINGTON, NY 11050-4551
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 23, 2024
—
Bushwick Properties 1951 LLC
Rer Realty LLC
Deed
—
Jan 6, 2023
$3,900,000
Rer Realty LLC
Ace Air Conditioning Service Corpor
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.
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