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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3244 Francis Lewis Blvd Flushing, NY 11358-1925

    • Office buildings
    • 2,523 SF
    • 0.06 lot acres
    OFF-MARKET
    Last Sale
    Feb 14, 2022
    $1,000,000
    Value Estimations
    $950,000
    Show details
    Cap Rate Potential
    9.8%
    Office buildings
    Location Intelligence
    Property ID
    US63-6181759
    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

    • Pritsiolas & Iatropol / Accountant

    Property Details for 3244 Francis Lewis Blvd

    Year built
    1950
    Lot size
    0.06 lot acres
    Property size
    2,523 SF
    Zone code
    R2A
    Property type
    Office buildings
    APN
    04941-0033
    APU
    49410033

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $900,000
      ML approach
      $900,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Flushing
    County
    Queens
    State
    New York
    Longitude
    -73.7912
    Latitude
    40.7678
    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
    $25,214
    $47,250
    $194,400
    $241,650
    -
    $105,000
    $432,000
    $537,000

    Comparable in this City

    • Value Estimation
      $505,000
      1,388 SF

      192-05 192nd St

      OFFICE BUILDING (MULTI-STORY) • 1,388 SF
      192-05 192nd St, Flushing, NY 11358
      View Details
    • Value Estimation
      $1,415,000
      1,900 SF

      4214 192nd St

      OFFICE BUILDING (MULTI-STORY) • 1,900 SF
      4214 192nd St, Flushing, NY 11358-2940
      View Details
    • Value Estimation
      $1,475,000
      2,000 SF

      18806 Northern Blvd

      OFFICE BUILDING (MULTI-STORY) • 2,000 SF
      18806 Northern Blvd, Flushing, NY 11358-2811
      View Details
    • Value Estimation
      $655,000
      1,800 SF

      2815 Bayside Ln

      OFFICE BUILDING (MULTI-STORY) • 1,800 SF
      2815 Bayside Ln, Flushing, NY 11358-1057
      View Details
    • Value Estimation
      $1,590,000
      3,840 SF

      4525 162nd St

      OFFICE BUILDING (MULTI-STORY) • 3,840 SF
      4525 162nd St, Flushing, NY 11358-3279
      View Details
    • Value Estimation
      $4,380,000
      13,542 SF

      3211 Francis Lewis Blvd

      PROFESSIONAL BUILDING • 13,542 SF
      3211 Francis Lewis Blvd, Flushing, NY 11358-1922
      View Details

    Similar Nearby for Sale

    • $4,279,000
      5,230 SF

      Flushing Commercial Building For Sale

      Multi-story commercial building in Flushing, Queens with investment upside.
      18802 Northern Blvd, Flushing, NY 11358
      View Details
    • $1,150,000
      600 SF

      Flushing Mixed-Use Conversion Opportunity

      Spacious three-story building in Flushing, convertible to residential use.
      28-15 Bayside Ln, Flushing, NY 11358
      View Details
    • $5,080,000
      8,000 SF

      Flushing Mixed-Use Investment Opportunity

      Fully leased 8,000 SF mixed-use building near LIRR station.
      36-15 164Th St, Flushing, NY 11358
      View Details
    • $1,850,000
      2,704 SF

      Flushing Mixed-Use Building For Sale

      Modern mixed-use building with office space, apartment, and parking.
      3412 192Nd St, Flushing, NY 11358
      View Details
    • $1,399,000
      2,748 SF

      Flushing Quadruplex: Investor Opportunity

      Meticulously maintained four-family property in a sought-after Flushing neighborhood.
      4014 191St St, Flushing, NY 11358
      View Details
    • $1,700,000

      Queens Land For Sale

      Commercial land available in Queens, New York.
      45-64 162Nd St, Flushing, NY 11358
      View Details

    Similar Nearby for Lease

    • $3,200 /Mo
      900 SF

      Flushing Mixed-Use Space For Rent

      900 sq ft mixed-use space in Flushing near 162nd Street.
      45-86 163Rd St, Flushing, NY 11358
      View Details
    • Contact for pricing

      Office Space for Rent

      Office space available for rent in Queens, NY.
      Queens, NY 11358
      View Details
    • $1,800 /Mo
      800 SF

      Flushing Office Space For Rent

      800 sqft lower level office space in Auburndale, Flushing.
      19818 47Th Ave, Flushing, NY 11358
      View Details
    • $2,900 /Mo

      Bright Office Space on Northern Blvd

      Naturally lit office space in elevator building on Northern Blvd.
      192-14 Northern Blvd, Queens, NY 11358
      View Details
    • $2,900 /Mo
      9,148 SF

      Flushing Office Space For Rent

      Bright office space in elevator building on Northern Blvd.
      192-14 Northern Boulevard, Flushing, NY 11358
      View Details
    • $4,000 /Mo
      1,500 SF

      Medical Office Space in Queens

      Well-maintained medical office space for lease in a prime location.
      164-10 Northern Blvd, Flushing, NY 11358
      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.
    3244 Francis Lewis Blvd
    Flushing, NY 11358-1925
    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.