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Property profile & analytics
OFF-MARKET
Estimated value
$830,000
Manufacturing properties
3657 35th St Long Island City, NY 11106-1301
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US63-2555395
Property profile
Verified
Property type
Manufacturing properties
Use group
FACTORY (MANUFACTURING)
Year built
1965
Total area
2,521 SF
Lot
0.06 ac (2,521 SF)
Zoning code
M1-1
APN
00635-0012
UPID
US63-2555395
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
$675k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$738k
Blend (final)
Blend
$830k
Owner & transaction history
21 Street Management LLC · 5 yrs held
21 Street Management LLC
since 2021
Last sale
$1.1M
7 recorded transactions
Zoning & alternative use
M1-1 · Long Island City, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.1M
+25.4%
Office building
$910,000
+8.5%
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
$740,000
ML approach
$675,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$840,000
Current use
COMMERCIAL (GENERAL)
$1,055,000
Change: +25% · Conversion: Difficult
OFFICE BUILDING
$910,000
Change: +9% · Conversion: Difficult
WAREHOUSE, STORAGE
$775,000
Change: -7% · Conversion: Easy
Blend value · Realmo final
$830k
Range $747k – $913k · ±10% · vs last sale $1.11M (Apr 7 2021)
Last sale anchor
$1.11M
Apr 7 2021
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
$329 / 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
$23,327
Tax year 2024
Assessed value
$243,450
Assessed 2024
Previous assessed
$207,090
+17.6% YoY
Effective rate
9.58%
On assessed value
Assessed land
$45,000
Assessed improvement
$198,450
Land market value
$100,000
Improvement market value
$441,000
Total market value
$541,000
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
Manufacturing properties
Use group
FACTORY (MANUFACTURING)
Status
Off-Market
Year built
1965
Heating
NONE
Buildings
1
Stories
1
Units
1
Total area
2,521 SF
Lot
0.06 ac (2,521 SF)
Zoning code
M1-1
APN
00635-0012
UPID
US63-2555395
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M1-1 · Long Island City, NY
Zoning M1-1 · permitted uses
M1-1 · 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
INDUSTRIAL (GENERAL) Current
Est. value
$840,000
COMMERCIAL (GENERAL)
Est. value
$1.1M
OFFICE BUILDING
Est. value
$910,000
WAREHOUSE, STORAGE
Est. value
$775,000
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1965
Heating
NONE
Stories
1
Buildings
1
Units
1
Lot
0.06 ac
Current owner
From public records · entity-resolved
21 Street Management LLC
Entity
Mailing address
2540 27TH ST, LONG ISLAND CITY, NY 11102-4356
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 7, 2021
$1,112,500
21 Street Management LLC
Four Qtrs LLC
Deed
—
Nov 24, 2017
—
Four Qtrs LLC
—
Deed
related
$495,000 · Flushing Bk
Apr 18, 2016
$87,000
Four Qtrs LLC
D M Ice Cream Corp
Grant Deed
—
Feb 24, 2015
—
D M Ice Cream Corp
Compito Louis
Quit Claim Deed
—
Nov 6, 2014
$210,000
D M Ice Cream Corp
Mileo,george
Grant Deed
—
Feb 1, 2008
—
Louis Compito
Compito,matthew
Quit Claim Deed
related
—
Mar 20, 2006
—
George Mileo
Mileo,george
Quit Claim Deed
related
—
—
—
Louis Compito
—
Deed Of Trust
related
$500,000 · Signature Bank
—
—
Four Qtrs LLC
—
Deed Of Trust
related
$495,000 · Flushing Bk
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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