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Property profile & analytics
OFF-MARKET
Estimated value
$1,385,000
Retail space
2902 Francis Lewis Blvd, Flushing, NY 11358-1536
Individually Owned
9-yr Hold
Free & Clear
Property ID
US63-2798065
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1936
Total area
6,400 SF
Lot
0.19 ac (8,158 SF)
Zoning code
R2A
APN
04934-0006
UPID
US63-2798065
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
-
Cadenza Music Center Vocational School Training Center
-
Latin American Piano Music Music Venue Theater & Performing Art Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.76M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.39M
Owner & transaction history
Joseph Bono · 9 yrs held
Joseph Bono
since 2016
4 recorded transactions
Zoning & alternative use
R2A · Flushing, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Flushing submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Flushing 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%
$1,905,000
6.5%
$1,760,000
7%
$1,630,000
Blend value · Realmo final
$1.39M
Range $1.25M – $1.52M · ±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
$216 / 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
$45,900
Tax year 2024
Assessed value
$433,350
Assessed 2024
Previous assessed
$499,140
-13.2% YoY
Effective rate
10.59%
On assessed value
Assessed land
$160,200
Assessed improvement
$273,150
Land market value
$356,000
Improvement market value
$607,000
Total market value
$963,000
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 space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1936
Heating
NONE
Buildings
1
Stories
1
Units
6
Total area
6,400 SF
Lot
0.19 ac (8,158 SF)
Zoning code
R2A
APN
04934-0006
UPID
US63-2798065
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R2A · Flushing, NY
Zoning R2A · permitted uses
R2A · Flushing, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Flushing. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1936
Heating
NONE
Stories
1
Buildings
1
Units
6
Lot
0.19 ac
Current owner
From public records · entity-resolved
Joseph Bono
Individual
Free & Clear · 9 yrs held
Mailing address
312 149TH PL, WHITESTONE, NY 11357-1133
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 26, 2016
—
Joseph Bono
Franny Lew Properties LLC
Deed
—
Sep 26, 2016
$825,000
Franny Lew Properties LLC
Franny Lew Properties LLC
Grant Deed
—
—
—
Franny Lew Properties LLC
—
Loan Modification
related
$350,000 · Dimitrios Malaxianis
—
—
Franny Lew Properties LLC
—
Loan Modification
related
$350,000 · Dimitrios Malaxianis
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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