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Property profile & analytics
OFF-MARKET
Estimated value
$1,015,000
Hotels
2703 43rd Ave, Long Island City, NY 11101
Entity Owned
12-yr Hold
Absentee Owner
Free & Clear
Property ID
US63-3437362
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2014
Total area
55,988 SF
Lot
0.23 ac (9,995 SF)
Zoning code
M15R73
APN
00432-0025
UPID
US63-3437362
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.01M
Blend (final)
Blend
$1.02M
Owner & transaction history
27-07 43rd Ave LLC · 12 yrs held
27-07 43rd Ave LLC
since 2013
6 recorded transactions
Zoning & alternative use
M15R73 · Long Island City, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.5M
+27.9%
Medical building
$1.3M
+5.1%
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 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$1,195,000
Current use
AUTO REPAIR, GARAGE
$1,530,000
Change: +28% · Conversion: Difficult
MEDICAL BUILDING
$1,255,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$1.02M
Range $914k – $1.12M · ±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
$18 / 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
$579,165
Tax year 2024
Assessed value
$5,550,300
Assessed 2024
Previous assessed
$4,895,550
+13.4% YoY
Effective rate
10.43%
On assessed value
Assessed land
$900,000
Assessed improvement
$4,650,300
Land market value
$2,000,000
Improvement market value
$10,334,000
Total market value
$12,334,000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
2014
Heating
NONE
Buildings
1
Stories
9
Units
1
Total area
55,988 SF
Lot
0.23 ac (9,995 SF)
Zoning code
M15R73
APN
00432-0025
UPID
US63-3437362
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M15R73 · Long Island City, NY
Zoning M15R73 · permitted uses
M15R73 · 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
HOTEL/MOTEL Current
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.5M
MEDICAL BUILDING
Est. value
$1.3M
HOTEL/MOTEL Current
AUTO REPAIR, GARAGE
MEDICAL 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
2014
Heating
NONE
Stories
9
Buildings
1
Units
1
Lot
0.23 ac
Current owner
From public records · entity-resolved
27-07 43rd Ave LLC
Entity
Free & Clear · 12 yrs held
Mailing address
100 RING RD W UNIT #300, GARDEN CITY, NY 11530-3205
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2013
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
Apr 3, 2024
—
27-07 43rd Ave LLC
—
Deed
related
$11,861,369 · Dime Community Bank
Nov 2, 2018
—
27-07 43rd Avenue LLC
—
Deed
related
$6,500,000 · Sterling National Bank
Oct 21, 2015
—
27-07 43rd Ave LLC
—
Trustees Deed
related
$13,000,000 · M&t Bk
Sep 10, 2013
$6,800,000
27-07 43rd Ave LLC
Lic Place LLC
Grant Deed
—
Mar 6, 2006
$3,100,000
Lic Place LLC
Guys Motor INC
Grant Deed
$2,000,000 · North Fork Bank
—
—
Lic Place LLC
—
Deed Of Trust
related
$2,000,000 · Capital One
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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