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Property profile & analytics
FOR LEASE
Office buildings
257-10 Union Tpke, Glen Oaks, NY 11004
Individually Owned
21-yr Hold
~
Est. High Equity
Property ID
US63-2226764
For Lease
1 / 3
$3,685,000
257-10 Union Tpke, Glen Oaks, NY 11004
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
2002
Total area
8,132 SF
Lot
0.19 ac (8,342 SF)
Zoning code
R2A
APN
08694-0027
UPID
US63-2226764
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
-
Oommen Shobin MD Physician
-
Divine Mercy Health Care Trnr Home Health Care Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.40M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.69M
Owner & transaction history
Dipti Shah · 21 yrs held
Dipti Shah
since 2005
5 recorded transactions
Zoning & alternative use
R2A · Glen Oaks, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$5.1M
+14.4%
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 Glen Oaks submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Glen Oaks 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%
$4,760,000
6.5%
$4,395,000
7%
$4,080,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,450,000
Current use
COMMERCIAL (GENERAL)
$5,090,000
Change: +14% · Conversion: Easy
RETAIL STORES
$4,380,000
Change: -2% · Conversion: Moderate
Blend value · Realmo final
$3.69M
Range $3.32M – $4.05M · ±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
$453 / 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
$82,869
Tax year 2024
Assessed value
$974,700
Assessed 2024
Previous assessed
$717,430
+35.9% YoY
Effective rate
8.50%
On assessed value
Assessed land
$146,250
Assessed improvement
$828,450
Land market value
$325,000
Improvement market value
$1,841,000
Total market value
$2,166,000
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
For Lease
Year built
2002
Heating
NONE
Buildings
1
Stories
2
Units
1
Total area
8,132 SF
Lot
0.19 ac (8,342 SF)
Zoning code
R2A
APN
08694-0027
UPID
US63-2226764
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R2A · Glen Oaks, NY
Zoning R2A · permitted uses
R2A · Glen Oaks, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Glen Oaks. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$4.5M
COMMERCIAL (GENERAL)
Est. value
$5.1M
RETAIL STORES
Est. value
$4.4M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RETAIL STORES
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
2002
Heating
NONE
Stories
2
Buildings
1
Units
1
Lot
0.19 ac
Current owner
From public records · entity-resolved
Dipti Shah
Individual
Mailing address
100 JERICHO QUADRANGLE STE #336, JERICHO, NY 11753-2702
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 16, 2022
—
Glen Oaks Medical Building, LLC
—
Deed
related
$2,046,016 · American Fideliity Assurance Company
Mar 2, 2005
—
Dipti Shah
Shah,haresh
Quit Claim Deed
related
—
—
—
Glen Oaks Medical Building LLC
—
Deed Of Trust
related
$1,597,252 · Union Central Life Insurance
—
—
New York Smsa LP
—
Deed Of Trust
related
—
—
—
Haresh Shah
—
Deed Of Trust
related
$750,000 · Mbna America (delaware) NA
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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