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Property profile & analytics
OFF-MARKET
Estimated value
$1,980,000
Retail space
3201 47th Ave Long Island City, NY 11101
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US63-0847345
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1965
Total area
2,744 SF
Lot
0.07 ac (3,000 SF)
Zoning code
M1-4
APN
00249-0007
UPID
US63-0847345
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
$1.98M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.79M
Blend (final)
Blend
$1.98M
Owner & transaction history
Van Dam Ny LLC · 2 yrs held
Van Dam Ny LLC
since 2024
Last sale
$2.0M
5 recorded transactions
Zoning & alternative use
M1-4 · Long Island City, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.9M
+19.5%
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
$1,980,000
ML approach
$1,980,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,610,000
Current use
AUTO REPAIR, GARAGE
$1,925,000
Change: +19% · Conversion: Difficult
Blend value · Realmo final
$1.98M
Range $1.78M – $2.18M · ±10% · vs last sale $1.98M (Apr 17 2024)
Last sale anchor
$1.98M
Apr 17 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
$722 / 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
$30,648
Tax year 2024
Assessed value
$321,300
Assessed 2024
Previous assessed
$285,090
+12.7% YoY
Effective rate
9.54%
On assessed value
Assessed land
$135,000
Assessed improvement
$186,300
Land market value
$300,000
Improvement market value
$414,000
Total market value
$714,000
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
1965
Heating
NONE
Buildings
1
Stories
1
Units
1
Total area
2,744 SF
Lot
0.07 ac (3,000 SF)
Zoning code
M1-4
APN
00249-0007
UPID
US63-0847345
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M1-4 · Long Island City, NY
Zoning M1-4 · permitted uses
M1-4 · 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
RETAIL STORES Current
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.9M
RETAIL STORES Current
AUTO REPAIR, GARAGE
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
1965
Heating
NONE
Stories
1
Buildings
1
Units
1
Lot
0.07 ac
Current owner
From public records · entity-resolved
Van Dam Ny LLC
Entity
Mailing address
2628 212TH ST, BAYSIDE, NY 11360-2527
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 17, 2024
$1,980,000
Van Dam Ny LLC
Van Dam Realty LLC
Deed
$1,000,000 · Amerasia Bank
Nov 20, 2017
—
Van Dam Realty LLC
—
Loan Modification, Consolidation And Extension
related
$699,900 · People's United Bk
May 11, 2010
$975,000
Van Dam Realty LLC
Anl Properties LP
Grant Deed
$700,000 · Alma Bank
Jun 4, 2008
—
Nanlou LLC
Goodman,nancy
Grant Deed
related
—
Nov 15, 2007
—
Nancy Goodman
Levien,lois
Grant Deed
related
—
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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