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Property profile & analytics
OFF-MARKET
Estimated value
$2,160,000
Hotels
2921 41st Ave, Astoria, NY 11103
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US63-3316512
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2014
Total area
85,140 SF
Lot
0.15 ac (6,724 SF)
Zoning code
M16R10
APN
00418-0024
UPID
US63-3316512
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
$2.16M
Blend (final)
Blend
$2.16M
Owner & transaction history
Cvr Hotel LLC · 8 yrs held
Cvr Hotel LLC
since 2018
7 recorded transactions
Zoning & alternative use
M16R10 · Astoria, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$2.3M
+27.2%
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 Astoria submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Astoria 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
$1,815,000
Current use
WAREHOUSE, STORAGE
$2,310,000
Change: +27% · Conversion: Difficult
Blend value · Realmo final
$2.16M
Range $1.94M – $2.38M · ±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
$25 / 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
$1,165,217
Tax year 2024
Assessed value
$11,829,600
Assessed 2024
Previous assessed
$10,433,700
+13.4% YoY
Effective rate
9.85%
On assessed value
Assessed land
$832,050
Assessed improvement
$10,997,550
Land market value
$1,849,000
Improvement market value
$24,439,000
Total market value
$26,288,000
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
16
Units
1
Total area
85,140 SF
Lot
0.15 ac (6,724 SF)
Zoning code
M16R10
APN
00418-0024
UPID
US63-3316512
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M16R10 · Astoria, NY
Zoning M16R10 · permitted uses
M16R10 · Astoria, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Astoria. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$1.8M
WAREHOUSE, STORAGE
Est. value
$2.3M
HOTEL/MOTEL Current
WAREHOUSE, STORAGE
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
16
Buildings
1
Units
1
Lot
0.15 ac
Current owner
From public records · entity-resolved
Cvr Hotel LLC
Entity
Mailing address
1985 CEDARBRIDGE AVE STE #1, LAKEWOOD, NJ 08701-7031
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 23, 2023
—
Lvp Lic Hotel Holding Corp.
—
Deed
related
$32,500,000 · Western Alliance Bank
Jun 8, 2023
—
Lic Hotel Holding Corp.
—
Deed
related
$32,500,000 · Western Alliance Bank
Mar 29, 2018
—
Cvr Hotel LLC
Cvr Hotel LLC
Quit Claim Deed
related
$35,000,000 · Western Alliance Bk
Mar 29, 2018
$60,000,000
Lvp Lic Hotel LLC
Cvr Hotel LLC +
Grant Deed
—
Sep 24, 2013
—
Cvr Hotel LLC
—
Trustees Deed
related
$22,219,236 · East West Bank
Jan 12, 2011
$6,325,000
Cvr Hotel LLC
Lic II LLC
Grant Deed
—
Mar 13, 2009
—
Lic II LLC
Yess Property Group LLC
Grant Deed
—
Apr 16, 2008
$7,725,000
Yess Property Group LLC
Ibm Metro Employees FCU
Grant Deed
$4,600,000 · Sam Domb
—
—
Cvr Hotel LLC
—
Loan Modification, Consolidation And Extension
related
$38,000,000 · East West Bk
—
—
Cvr Hotel LLC
—
Deed Of Trust
related
$4,780,763 · East West Bank
—
—
Lvp Lic Hotel LLC
—
Loan Modification
related
$35,000,000 · Western Alliance Bk
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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