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Property profile & analytics
OFF-MARKET
Estimated value
$2,510,000
Retail residential properties
251-02 1st St Jamaica, NY 11422
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US63-3413648
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1971
Total area
6,510 SF
Lot
0.18 ac (7,623 SF)
Zoning code
M1-1
APN
13921-0063
UPID
US63-3413648
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
$2.37M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.60M
Blend (final)
Blend
$2.51M
Owner & transaction history
Sabalutz LLC · 4 yrs held
Sabalutz LLC
since 2022
Last sale
$2.6M
1 recorded transaction
Zoning & alternative use
M1-1 · Jamaica, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$3.1M
+54.0%
Warehouse, storage
$2.9M
+43.0%
Retail stores
$2.8M
+38.1%
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 Jamaica submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Jamaica 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
$2,380,000
ML approach
$2,370,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,030,000
Current use
INDUSTRIAL (GENERAL)
$3,125,000
Change: +54% · Conversion: Moderate
WAREHOUSE, STORAGE
$2,900,000
Change: +43% · Conversion: Difficult
RETAIL STORES
$2,800,000
Change: +38% · Conversion: Easy
OFFICE BUILDING
$2,410,000
Change: +19% · Conversion: Easy
Blend value · Realmo final
$2.51M
Range $2.26M – $2.76M · ±10% · vs last sale $2.60M (Jun 6 2022)
Last sale anchor
$2.60M
Jun 6 2022
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
$386 / 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
$34,938
Tax year 2024
Assessed value
$329,850
Assessed 2024
Previous assessed
$339,300
-2.8% YoY
Effective rate
10.59%
On assessed value
Assessed land
$186,300
Assessed improvement
$143,550
Land market value
$414,000
Improvement market value
$319,000
Total market value
$733,000
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 residential properties
Use group
STORES & APARTMENTS
Status
Off-Market
Year built
1971
Heating
NONE
Buildings
1
Stories
1
Units
1
Total area
6,510 SF
Lot
0.18 ac (7,623 SF)
Zoning code
M1-1
APN
13921-0063
UPID
US63-3413648
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M1-1 · Jamaica, NYZoning M1-1 · permitted uses
M1-1 · Jamaica, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$2.0M
INDUSTRIAL (GENERAL)
Est. value
$3.1M
WAREHOUSE, STORAGE
Est. value
$2.9M
RETAIL STORES
Est. value
$2.8M
OFFICE BUILDING
Est. value
$2.4M
COMMERCIAL (GENERAL) Current
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
RETAIL STORES
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
1971
Heating
NONE
Stories
1
Buildings
1
Units
1
Lot
0.18 ac
Current owner
From public records · entity-resolved
Sabalutz LLC
Entity
Mailing address
7 WATERLOO RD, STANHOPE, NJ 07874-2621
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 6, 2022
$2,600,000
Sabalutz LLC
Argo Boat Mfg. Co. INC.
Deed
$1,500,000 · Argo Boat Mfg. Co. INC.
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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