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

    4506 108th St Flushing, NY 11368-4628

    • Retail residential properties
    • 3,162 SF
    • 0.07 lot acres
    OFF-MARKET
    Last Sale
    May 06, 2022
    $1,310,000
    Value Estimations
    $1,235,000
    Show details
    Cap Rate Potential
    3.7%
    Retail residential properties
    Location Intelligence
    Property ID
    US63-1022048
    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

    • Unified Electric & Light / Electrical Service / General Contractor
    • Modern Trend Electrical Contractor / Construction Company / General Contractor

    Property Details for 4506 108th St

    Year built
    1931
    Lot size
    0.07 lot acres
    Property size
    3,162 SF
    Zone code
    R6B
    Property type
    Retail residential properties
    APN
    01989-0039
    APU
    19890039

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,105,000
      ML approach
      $1,205,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,249,000
      Market price range: $915k - $1.61M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,235,000
      Current use
      WAREHOUSE, STORAGE
      $1,630,000
      Change: +32% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Flushing
    County
    Queens
    State
    New York
    Longitude
    -73.8575
    Latitude
    40.7476
    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
    $23,403
    $45,000
    $175,950
    $220,950
    -
    $100,000
    $391,000
    $491,000

    Comparable in this City

    • Value Estimation
      $740,000
      6,260 SF

      3810 Jct Blvd

      STORE/OFFICE (MIXED USE) • 6,260 SF
      3810 Jct Blvd, Flushing, NY 11368-2126
      View Details
    • Value Estimation
      $755,000
      6,400 SF

      10402 Roosevelt Ave

      STORE/OFFICE (MIXED USE) • 6,400 SF
      10402 Roosevelt Ave, Flushing, NY 11368-2328
      View Details
    • Value Estimation by Request
      1,510 SF

      10014 Roosevelt Ave

      STORE/OFFICE (MIXED USE) • 1,510 SF
      10014 Roosevelt Ave, Flushing, NY 11368
      View Details
    • Value Estimation
      $10,275,000
      350,186 SF

      11221 Northern Blvd

      STORES & APARTMENTS • 350,186 SF
      11221 Northern Blvd, Flushing, NY 11368-1337
      View Details
    • Value Estimation
      $4,775,000
      28,000 SF

      3801 112th St

      STORES & APARTMENTS • 28,000 SF
      3801 112th St, Flushing, NY 11368-1444
      View Details
    • Value Estimation
      $3,585,000
      15,421 SF

      10321 Northern Blvd

      STORES & APARTMENTS • 15,421 SF
      10321 Northern Blvd, Flushing, NY 11368-1136
      View Details

    Similar Nearby for Sale

    • $3,750,000
      4,938 SF

      Corona Mixed-Use Investment Opportunity

      Mixed-use property in Corona, NY with commercial space and apartments.
      4512 104Th St, Corona, NY 11368
      View Details
    • $1,550,000
      3,230 SF

      Mixed-Use Investment in Corona, NY

      Mixed-use building with commercial storefront and apartments in Corona, NY.
      102-08 37Th Ave, Corona, NY 11368
      View Details
    • $3,990,000

      Mixed-Use Building in Excellent Location

      Mixed-use property with commercial and residential units, great location.
      3924 108Th St, Flushing, NY 11368
      View Details
    • $1,899,999

      Mixed-Use Property in Corona, Queens

      Mixed-use property with apartments and commercial unit in Corona.
      49-04 111Th St, Flushing, NY 11368
      View Details
    • $2,299,000
      0.05 Acres

      Mixed-Use Property in Corona, NY

      Mixed-use property with store and apartments in Corona, NY.
      52-12 108Th St, Corona, NY 11368
      View Details
    • $2,100,000
      3,528 SF

      Mixed-Use Building in Corona, NY

      Mixed-use building with laundromat and apartments in Corona, NY.
      41-04 102Nd St, Corona, NY 11368
      View Details

    Similar Nearby for Lease

    • $3,000 /Mo

      Spacious Three-Bedroom Apartment in Corona

      Comfortable 3-bedroom, 2-bathroom apartment in Corona, Queens, available now.
      34-53 106Th St, Corona, NY 11368
      View Details
    • New
      $4,000 /Mo
      4,574 SF

      Roosevelt Avenue Office Space

      Second-floor office space in high-traffic Corona location.
      9718 Roosevelt Ave, Corona, NY 11368
      View Details
    • $6,000 /Mo
      1,756 SF

      New Retail Space in Corona

      New construction retail space available for rent in Corona.
      3713 103Rd St, Corona, NY 11368
      View Details
    • $6,000 /Mo

      Commercial Space in Prime Location

      Commercial space for lease in Corona, NY, approximately 2,000 Sq. Ft.
      99-11 37Th Ave, Queens, NY 11368
      View Details
    • $54 SF/Yr
      2,484 SF

      Elmhurst Medical Office Space

      Newly renovated, 2,484 sq ft, single tenant.
      41-16 Jct Blvd, Queens, NY 11368
      View Details
    • Contact for pricing
      2,900 SF

      Retail Space Near 7 Train

      Retail space with high foot traffic, near the 7 train.
      3747-3787 Junction Blvd, Corona, NY 11368
      View Details
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    Flushing, NY 11368-4628
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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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