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Property profile & analytics
FOR LEASE
Office buildings
40-29 235Th St Douglaston, Queens, NY 11363
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US63-2357485
For Lease
1 / 4
$2,745,000
40-29 235Th St,Unit Douglaston, Queens, NY 11363
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1935
Total area
7,073 SF
Lot
0.23 ac (10,128 SF)
Zoning code
R1-2
APN
08099-0061
UPID
US63-2357485
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
by Request
CAP Approach
CAP
$3.82M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.75M
Owner & transaction history
40-27/29 235th Street Realty LLC · 7 yrs held
40-27/29 235th Street Realty LLC
since 2018
4 recorded transactions
Zoning & alternative use
R1-2 · Flushing, 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 Queens submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Queens 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%
$4,140,000
6.5%
$3,820,000
7%
$3,550,000
Blend value · Realmo final
$2.75M
Range $2.47M – $3.02M · ±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
$388 / 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
$76,749
Tax year 2024
Assessed value
$736,200
Assessed 2024
Previous assessed
$508,680
+44.7% YoY
Effective rate
10.43%
On assessed value
Assessed land
$227,700
Assessed improvement
$508,500
Land market value
$506,000
Improvement market value
$1,130,000
Total market value
$1,636,000
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
For Lease
Year built
1935
Heating
NONE
Buildings
1
Stories
3
Units
4
Total area
7,073 SF
Lot
0.23 ac (10,128 SF)
Zoning code
R1-2
APN
08099-0061
UPID
US63-2357485
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R1-2 · Flushing, NY
Zoning R1-2 · permitted uses
R1-2 · Flushing, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Flushing. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1935
Heating
NONE
Stories
3
Buildings
1
Units
4
Lot
0.23 ac
Current owner
From public records · entity-resolved
40-27/29 235th Street Realty LLC
Entity
Mailing address
2183 STEINWAY ST, LONG ISLAND CITY, NY 11105-1832
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 9, 2023
—
40-27/29 235th Street Realty LLC
—
Deed
related
$564,295 · Ponce Bank
Jul 23, 2018
$1,450,000
40-27/29 235th Street Realty LLC
Soulful Endeavors INC
Deed
$950,000 · Ponce Bank
Oct 25, 2017
$1,040,000
Soulful Endeavors INC
Privilegi,mauro
Grant Deed
—
Jun 4, 2014
$925,000
Mauro Privilegi
40-27 235th Street Corp
Grant Deed
—
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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