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

    4005 Skillman Ave Long Island City, NY 11104-3203

    • Manufacturing properties
    • 19,400 SF
    • 0.22 lot acres
    OFF-MARKET
    Last Sale
    Mar 25, 2020
    $6,595,000
    Value Estimations
    $6,690,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2562758
    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

    • Carmensa / Restaurant
    • food hall / Restaurant / Take-out & Catering
    • Laksa Shop / Restaurant
    • Hong Kong Taste / Restaurant
    • Presbyterian Theological / Church / Mosque

    Property Details for 4005 Skillman Ave

    Year built
    1932
    Lot size
    0.22 lot acres
    Property size
    19,400 SF
    Zone code
    M1-1
    Property type
    Manufacturing properties
    APN
    00183-0292
    APU
    1830292

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,675,000
      ML approach
      $6,900,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,590,000
      6.5%
      $4,235,000
      7%
      $3,935,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $9,161,000
      Market price range: $5.21M - $9.16M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $6,460,000
      Current use
      COMMERCIAL (GENERAL)
      $7,710,000
      Change: +19% Conversion: Difficult
      OFFICE BUILDING
      $7,010,000
      Change: +9% Conversion: Difficult
      WAREHOUSE, STORAGE
      $5,980,000
      Change: -7% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Long Island City
    County
    Queens
    State
    New York
    Longitude
    -73.9232
    Latitude
    40.7474
    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
    $138,740
    $285,750
    $1,162,800
    $1,448,550
    -
    $635,000
    $2,584,000
    $3,219,000

    Comparable in this City

    • Value Estimation
      $1,865,000
      18,280 SF

      5225 Barnett Ave

      FACTORY (MANUFACTURING) • 18,280 SF
      5225 Barnett Ave, Long Island City, NY 11104-1017
      View Details
    • Value Estimation
      $640,000
      2,785 SF

      4707 Barnett Ave

      FACTORY (MANUFACTURING) • 2,785 SF
      4707 Barnett Ave, Long Island City, NY 11104-1417
      View Details
    • Value Estimation by Request
      4,875 SF

      40-11 Skillman Ave

      Distribution properties • 4,875 SF
      40-11 Skillman Ave, Queens, NY 11104
      View Details
    • Value Estimation by Request
      105,000 SF

      4211 Queens Blvd

      HEAVY MANUFACTURING • 105,000 SF
      4211 Queens Blvd, Long Island City, NY 11104-2805
      View Details
    • Value Estimation
      $1,750,000
      11,550 SF

      5207 Barnett Ave

      FACTORY (MANUFACTURING) • 11,550 SF
      5207 Barnett Ave, Long Island City, NY 11104-1017
      View Details
    • Value Estimation by Request
      4,300 SF

      4715 Barnett Ave

      MANUFACTURING (LIGHT) • 4,300 SF
      4715 Barnett Ave, Long Island City, NY 11104-1417
      View Details

    Similar Nearby for Sale

    • $190,000

      Sunnyside Industrial Laundromat Investment

      High-traffic laundromat, strong leasehold.
      4345 41St St, Sunnyside, NY 11104
      View Details
    • $5,900,000
      Pending

      Sunnyside Multifamily Opportunity

      Multifamily property for sale in Sunnyside, Queens.
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    • $1,500,000

      Sunnyside Three-Family Home for Sale

      Well-maintained three-family home near transportation and amenities.
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    • $459,900

      Spacious Sunnyside Co-op Apartment

      Bright 1-bedroom co-op near transportation, shops, and restaurants.
      43-01 46Th St, Queens, NY 11104
      View Details
    • New
      $1,498,888
      0.06 Acres

      Sunnyside Multifamily Investment Opportunity

      Legal 6-family in Sunnyside with parking and stable income.
      43-32 40Th St, Sunnyside, NY 11104
      View Details
    • $900,000
      3,684 SF

      Sunnyside Multifamily Investment Opportunity

      Three-story, six-unit building in vibrant Sunnyside neighborhood.
      45-55 40Th St, Sunnyside, NY 11104
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      200,000 SF

      Long Island City Warehouse Space

      200,000 sqft warehouse/industrial space in Long Island City.
      39-15 Skillman Ave, Long Island City, NY 11104
      View Details
    • Contact for pricing
      58,000 SF

      Queens Blvd Retail Space Available

      Sunnyside retail space, multiple suites.
      45-02 Queens Blvd, Queens, NY 11104
      View Details
    • $13,000 /Mo
      3,200 SF

      Sunnyside Office/Storefront Opportunity

      Office space for lease, suitable for retail use.
      50-08 39Th St, Sunnyside, NY 11104
      View Details
    • Contact for pricing
      3,500 SF

      Queens Executive Office Suite

      Fully renovated, 3,500 sq ft office space.
      43-47A 44Th St, Queens, NY 11104
      View Details
    • Contact for pricing
      5,243 SF

      Retail Space in Tangram, Queens

      Retail space available in the Tangram complex in Queens.
      13327-13333 39Th Ave, Queens, NY 11104
      View Details
    • Contact for pricing
      650 SF

      Sunnyside Restaurant Space Available

      Fully built-out restaurant space in the heart of Sunnyside.
      4202-4214 Greenpoint Ave, Sunnyside, NY 11104
      View Details
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    4005 Skillman Ave
    Long Island City, NY 11104-3203
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    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
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