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Property profile & analytics
OFF-MARKET
Estimated value
$4,800,000
Office buildings
3074 31st St, Long Island City, NY 11102-2073
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US63-5867257
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1930
Total area
11,091 SF
Lot
0.06 ac (2,400 SF)
Zoning code
C4-3
APN
00591-0011
UPID
US63-5867257
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
$4.80M
CAP Approach
CAP
$5.99M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.80M
Owner & transaction history
30-74 31 Street LLC · 1 yrs held
30-74 31 Street LLC
since 2024
Last sale
$4.8M
7 recorded transactions
Zoning & alternative use
C4-3 · Long Island City, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$7.6M
+89.5%
Retail stores
$6.5M
+62.4%
Commercial (general)
$4.2M
+3.8%
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
$4,800,000
ML approach
$4,800,000
CAP Approach
CAP Return
Estimation
6%
$6,490,000
6.5%
$5,990,000
7%
$5,565,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,010,000
Current use
AUTO REPAIR, GARAGE
$7,595,000
Change: +89% · Conversion: Difficult
RETAIL STORES
$6,510,000
Change: +62% · Conversion: Moderate
COMMERCIAL (GENERAL)
$4,160,000
Change: +4% · Conversion: Easy
INDUSTRIAL (GENERAL)
$3,695,000
Change: -8% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,420,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$4.80M
Range $4.32M – $5.28M · ±10% · vs last sale $4.80M (Nov 20 2024)
Last sale anchor
$4.80M
Nov 20 2024
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
$433 / 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
$58,817
Tax year 2024
Assessed value
$555,300
Assessed 2024
Previous assessed
$584,100
-4.9% YoY
Effective rate
10.59%
On assessed value
Assessed land
$129,600
Assessed improvement
$425,700
Land market value
$288,000
Improvement market value
$946,000
Total market value
$1,234,000
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
Off-Market
Year built
1930
Heating
NONE
Buildings
1
Stories
6
Units
1
Total area
11,091 SF
Lot
0.06 ac (2,400 SF)
Zoning code
C4-3
APN
00591-0011
UPID
US63-5867257
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C4-3 · Long Island City, NY
Zoning C4-3 · permitted uses
C4-3 · 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
OFFICE BUILDING Current
Est. value
$4.0M
AUTO REPAIR, GARAGE
Est. value
$7.6M
RETAIL STORES
Est. value
$6.5M
COMMERCIAL (GENERAL)
Est. value
$4.2M
INDUSTRIAL (GENERAL)
Est. value
$3.7M
WAREHOUSE, STORAGE
Est. value
$3.4M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
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
1930
Heating
NONE
Stories
6
Buildings
1
Units
1
Lot
0.06 ac
Current owner
From public records · entity-resolved
30-74 31 Street LLC
Entity
Mailing address
812 54TH ST, BROOKLYN, NY 11220-3268
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 8, 2026
—
30-74 31 Street LLC
—
Deed
related
$380,000 · Flushing Bank
Nov 20, 2024
$4,800,000
30-74 31 Street LLC
Team One Realty INC
Deed
$3,120,000 · Secure Bridge Fund 1, LLC
Feb 6, 2015
$7,000,000
Team One Realty INC
30-74 31st Street LLC
Trustees Deed
$1,219,438 · Industrial & Com'l Bk/china (u
Mar 3, 2009
$475,000
Panagiotis Manolas
Melina Re LLC
Grant Deed
—
Mar 3, 2009
—
30-74 31st Street LLC
Melina Re LLC
Grant Deed
—
Dec 31, 2007
$1,200,000
Melina Re LLC
Friendly Realty Corp
Grant Deed
—
—
—
Team One Realty INC
—
Loan Modification, Consolidation And Extension
$4,200,000 · Industrial & Com'l Bk/china (u
—
—
30-74 31st Street LLC
—
Deed Of Trust
related
$2,100,000 · Alma Bank
—
—
30-74 31st Street LLC
—
Deed Of Trust
related
$3,100,000 · Alma Bank
—
—
30-74 31st Street LLC
—
Deed Of Trust
related
$1,000,000 · Alma Bank
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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