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Property profile & analytics
OFF-MARKET
Estimated value
$11,500,000
Manufacturing properties
4757 48th Ave Flushing, NY 11377
Individually Owned
2-yr Hold
Free & Clear
Property ID
US63-6067085
Property profile
Verified
Property type
Manufacturing properties
Use group
HEAVY MANUFACTURING
Year built
1939
Total area
29,250 SF
Lot
0.62 ac (27,000 SF)
Zoning code
M1-4
APN
00280-0005
UPID
US63-6067085
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
$11.50M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$14.87M
Blend (final)
Blend
$11.50M
Owner & transaction history
John J Perno III · 2 yrs held
John J Perno III
since 2024
Last sale
$11.5M
6 recorded transactions
Zoning & alternative use
M1-4 · Flushing, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$15.1M
+11.8%
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 Flushing submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Flushing 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
$11,500,000
ML approach
$11,500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$13,465,000
Current use
WAREHOUSE, STORAGE
$15,055,000
Change: +12% · Conversion: Easy
COMMERCIAL (GENERAL)
$11,325,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$11.50M
Range $10.35M – $12.65M · ±10% · vs last sale $11.50M (Jan 24 2024)
Last sale anchor
$11.50M
Jan 24 2024
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
$393 / 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
$157,263
Tax year 2024
Assessed value
$1,713,600
Assessed 2024
Previous assessed
$1,424,610
+20.3% YoY
Effective rate
9.18%
On assessed value
Assessed land
$656,100
Assessed improvement
$1,057,500
Land market value
$1,458,000
Improvement market value
$2,350,000
Total market value
$3,808,000
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
HEAVY MANUFACTURING
Status
Off-Market
Year built
1939
Heating
NONE
Buildings
1
Stories
2
Units
6
Total area
29,250 SF
Lot
0.62 ac (27,000 SF)
Zoning code
M1-4
APN
00280-0005
UPID
US63-6067085
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M1-4 · Flushing, NY
Zoning M1-4 · permitted uses
M1-4 · 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.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$13.5M
WAREHOUSE, STORAGE
Est. value
$15.1M
COMMERCIAL (GENERAL)
Est. value
$11.3M
INDUSTRIAL (GENERAL) Current
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
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
1939
Heating
NONE
Stories
2
Buildings
1
Units
6
Lot
0.62 ac
Current owner
From public records · entity-resolved
John J Perno III
Individual
Free & Clear · 2 yrs held
Mailing address
49 BOX ST, BROOKLYN, NY 11222-1151
Ownership since
2024
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
Jan 24, 2024
—
John J Perno III
Receiver Joseph M. Mattone JR.
Deed
—
Jan 24, 2024
$11,500,000
Bk Corners LLC
John J Perno III
Deed
$1,900,000 · Metropolitan Commercial Bank
May 9, 2006
$5,530,000
Purves Street Realty LLC
Coleman Family
Grant Deed
—
—
—
Purves Street Realty LLC
—
Deed Of Trust
related
$1,500,000 · Hsbc Bank USA
—
—
Purves Street Realty LLC
—
Deed Of Trust
related
$128,552 · Signature Bk
—
—
Purves Street Realty LLC
—
Loan Modification, Consolidation And Extension
related
$1,425,000 · Signature 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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