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Property profile & analytics
OFF-MARKET
Estimated value
$11,290,000
Office buildings
3411 35th Ave, Long Island City, NY 11106-1222
Entity Owned
23-yr Hold
Free & Clear
Property ID
US63-2921466
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1919
Total area
43,200 SF
Lot
0.37 ac (15,960 SF)
Zoning code
C4-2A
APN
00642-0001
UPID
US63-2921466
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
Current use
Occupant on record · Public records
-
Laborers Local 731 Advocacy Group
-
Excavators Union Pension Fund Advocacy Group
-
Building Concrete & Excavating Construction Company General Contractor
-
Feder Melvin Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$12.40M
Comparable Approach
Comparable
$12.55M
Blend (final)
Blend
$11.29M
Owner & transaction history
EXCAVATORS 731 PROPERTY CORP
EXCAVATORS 731 PROPERTY CORP
Zoning & alternative use
C4-2A · Long Island City, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$18.0M
+15.6%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$13,435,000
6.5%
$12,400,000
7%
$11,515,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$15,615,000
Current use
COMMERCIAL (GENERAL)
$18,045,000
Change: +16% · Conversion: Easy
INDUSTRIAL (GENERAL)
$14,385,000
Change: -8% · Conversion: Difficult
WAREHOUSE, STORAGE
$13,315,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$11.29M
Range $10.16M – $12.42M · ±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
$261 / 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
$256,833
Tax year 2024
Assessed value
$2,961,000
Assessed 2024
Previous assessed
$3,587,400
-17.5% YoY
Effective rate
8.67%
On assessed value
Assessed land
$360,000
Assessed improvement
$2,601,000
Land market value
$800,000
Improvement market value
$5,780,000
Total market value
$6,580,000
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
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1919
Heating
NONE
Buildings
1
Stories
4
Units
1
Total area
43,200 SF
Lot
0.37 ac (15,960 SF)
Zoning code
C4-2A
APN
00642-0001
UPID
US63-2921466
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C4-2A · Long Island City, NY
Zoning C4-2A · permitted uses
C4-2A · 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
$15.6M
COMMERCIAL (GENERAL)
Est. value
$18.0M
INDUSTRIAL (GENERAL)
Est. value
$14.4M
WAREHOUSE, STORAGE
Est. value
$13.3M
OFFICE BUILDING Current
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
1919
Heating
NONE
Stories
4
Buildings
1
Units
1
Lot
0.37 ac
Current owner
From public records · entity-resolved
EXCAVATORS 731 PROPERTY CORP
Entity
Free & Clear · 0 yrs held
Mailing address
3411 35TH AVE, LONG ISLAND CITY, NY 11106-1222
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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