Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    3237 Downing St Flushing, NY 11354-2724

    • Manufacturing properties
    • 9,000 SF
    • 0.21 lot acres
    OFF-MARKET
    Value Estimations
    $360,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-0059102
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Manufacturing properties

    Property Details for 3237 Downing St

    Year built
    1955
    Lot size
    0.21 lot acres
    Property size
    9,000 SF
    Zone code
    M2-1
    Property type
    Manufacturing properties
    APN
    04946-0196
    APU
    49460196

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $345,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $568,000
      Market price range: $231k - $937k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Flushing
    County
    Queens
    State
    New York
    Longitude
    -73.8349
    Latitude
    40.7659
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $52,135
    $165,600
    $422,550
    $588,150
    -
    $368,000
    $939,000
    $1,307,000

    Comparable in this City

    • Value Estimation
      $580,000
      23,095 SF

      13315 35th Ave

      FACTORY (MANUFACTURING) • 23,095 SF
      13315 35th Ave, Flushing, NY 11354-2712
      View Details
    • Value Estimation
      $285,000
      4,264 SF

      2619 124th St

      FACTORY (MANUFACTURING) • 4,264 SF
      2619 124th St, Flushing, NY 11354
      View Details
    • Value Estimation
      $705,000
      20,600 SF

      3215 College Pt Blvd

      MANUFACTURING (LIGHT) • 20,600 SF
      3215 College Pt Blvd, Flushing, NY 11354-2742
      View Details
    • Value Estimation
      $410,000
      5,000 SF

      13303 35th Ave

      MANUFACTURING (LIGHT) • 5,000 SF
      13303 35th Ave, Flushing, NY 11354-2712
      View Details
    • Value Estimation
      $325,000
      3,125 SF

      3119 Farrington St

      MANUFACTURING (LIGHT) • 3,125 SF
      3119 Farrington St, Flushing, NY 11354
      View Details
    • Value Estimation
      $460,000
      10,450 SF

      3508 Prince St

      MANUFACTURING (LIGHT) • 10,450 SF
      3508 Prince St, Flushing, NY 11354-2733
      View Details

    Similar Nearby for Sale

    • $3,750,000
      2,350 SF

      Flushing Industrial Building - Investment Opportunity

      Prime Flushing location, 2350 sq ft warehouse, renovated.
      13253 34Th Ave, Flushing, NY 11354
      View Details
    • $22,999,999
      60,146 SF

      Flushing Office and Industrial Building

      Office and industrial building in Flushing with development potential.
      12909 26Th Ave, Flushing, NY 11354
      View Details
    • $395,000
      1,000 SF

      Flushing Office Space - Prime Location

      1,000 sq ft Office, Great Visibility
      14424 37Th Ave, Flushing, NY 11354
      View Details
    • $1,068,000
      Pending

      Class A Office Space Available

      New Class A commercial development in Downtown Flushing.
      37-16 Union St, Flushing, NY 11354
      View Details
    • $1,350,000
      Pending

      Flushing Mixed-Use Property For Sale

      Mixed-use property in Flushing with commercial and residential spaces.
      40-22 Murray St, Flushing, NY 11354
      View Details
    • $1,178,000
      891 SF

      Flushing Office Space in Union

      New Class A commercial development, ideal for professional or medical use.
      37-16 Union St, Flushing, NY 11354
      View Details

    Similar Nearby for Lease

    • $22,000
      3,950 SF

      Flushing Retail/Showroom Space Available

      Prime commercial space in Flushing, ideal for retail or showroom.
      36-13 College Point Blvd, Flushing, NY 11354
      View Details
    • $55,000
      24,646 SF

      Spacious Commercial Property in Flushing

      Versatile 12,800 SF commercial space in a prime location.
      3337 Farrington St, Flushing, NY 11354
      View Details
    • Contact for pricing
      2,500 SF

      Flushing Flex Space Available

      Flex space near downtown Flushing with 24/7 access.
      3321 Prince St, Flushing, NY 11354
      View Details
    • $5,200 /Mo
      300 SF

      Flushing Retail Space on Roosevelt

      Prime retail spaces for lease in a high-traffic Flushing location.
      13670 Roosevelt Ave, Flushing, NY 11354
      View Details
    • $1,625 /Mo
      750 SF

      Flushing Office Space For Rent

      Office space available for rent in Flushing, NY.
      129-09 26Th Ave, Flushing, NY 11354
      View Details
    • $800 /Mo
      400 SF

      Flushing Office Space Available

      Office space for rent in Flushing, NY.
      129-09 26Th Ave, Flushing, NY 11354
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3237 Downing St
    Flushing, NY 11354-2724
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.