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Property profile & analytics
OFF-MARKET
Estimated value
$7,310,000
Auto shops
3725 24th St, Long Island City, NY 11101-3519
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US63-0762733
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1948
Total area
7,900 SF
Lot
0.3 ac (13,015 SF)
Zoning code
M1-2
APN
00367-0008
UPID
US63-0762733
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
$6.09M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.51M
Blend (final)
Blend
$7.31M
Owner & transaction history
Sibs Four LLC · 1 yrs held
Sibs Four LLC
since 2025
Last sale
$9.0M
6 recorded transactions
Zoning & alternative use
M1-2 · Long Island City, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$5,965,000
ML approach
$6,090,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$5,540,000
Current use
RETAIL STORES
$4,640,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$7.31M
Range $6.58M – $8.04M · ±10% · vs last sale $9.00M (Mar 17 2025)
Last sale anchor
$9.00M
Mar 17 2025
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
$925 / 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
$55,109
Tax year 2024
Assessed value
$526,500
Assessed 2024
Previous assessed
$473,580
+11.2% YoY
Effective rate
10.47%
On assessed value
Assessed land
$526,500
Land market value
$1,170,000
Total market value
$1,170,000
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
1948
Heating
NONE
Stories
1
Units
1
Total area
7,900 SF
Lot
0.3 ac (13,015 SF)
Zoning code
M1-2
APN
00367-0008
UPID
US63-0762733
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M1-2 · Long Island City, NY
Zoning M1-2 · permitted uses
M1-2 · 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
AUTO REPAIR, GARAGE Current
Est. value
$5.5M
RETAIL STORES
Est. value
$4.6M
AUTO REPAIR, GARAGE Current
RETAIL STORES
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
1948
Heating
NONE
Stories
1
Units
1
Lot
0.3 ac
Current owner
From public records · entity-resolved
Sibs Four LLC
Entity
Mailing address
2409 38TH AVE, LONG ISLAND CITY, NY 11101-3512
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 17, 2025
$9,000,000
Sibs Four LLC
24-09 38th Avenue LLC
Deed
$9,000,000 · The Dime Bank
Nov 10, 2021
—
24-09 38th Avenue LLC
Jc Development III, LLC
Deed
—
Dec 13, 2016
$8,000,000
Jc Dev III LLC
24th Street Lic Realty LLC
Grant Deed
—
Jan 27, 2016
—
24th Street Lic Realty LLC
Cohen,bruce
Quit Claim Deed
related
—
—
—
Bruce Cohen
—
Deed Of Trust
related
$395,792 · Bank Of America
—
—
Bruce Cohen
—
Deed Of Trust
related
$500,000 · Bank Of America
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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