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    Property profile & analytics

    5002 97Th Pl Corona, NY 11368

    • Manufacturing properties
    • 8,000 SF
    • 0.28 lot acres
    For Sale
    View listing
    $5,300,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-5956825
    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

    • Rams Mechanical Inc / Mechanical Contractor

    Property Details for 5002 97Th Pl

    Year built
    1964
    Lot size
    0.28 lot acres
    Property size
    8,000 SF
    Zone code
    M1-1
    Property type
    Manufacturing properties
    APN
    01889-0038
    APU
    18890038

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $355,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $337,000
      Market price range: $277k - $523k

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

    Location Insight

    • Map
    • Local Demand
    City
    Flushing
    County
    Queens
    State
    New York
    Longitude
    -73.8654
    Latitude
    40.742
    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
    $29,361
    $83,250
    $215,100
    $298,350
    -
    $185,000
    $478,000
    $663,000

    Comparable in this City

    • Value Estimation
      $475,000
      11,341 SF

      9803 50th Ave

      FACTORY (MANUFACTURING) • 11,341 SF
      9803 50th Ave, Flushing, NY 11368
      View Details
    • Value Estimation
      $360,000
      4,200 SF

      5353 97th Pl

      MANUFACTURING (LIGHT) • 4,200 SF
      5353 97th Pl, Flushing, NY 11368
      View Details
    • Value Estimation
      $965,000
      61,823 SF

      9711 50th Ave

      FACTORY (MANUFACTURING) • 61,823 SF
      9711 50th Ave, Flushing, NY 11368-2740
      View Details
    • Value Estimation
      $255,000
      2,520 SF

      10510 53rd Ave

      MANUFACTURING (LIGHT) • 2,520 SF
      10510 53rd Ave, Flushing, NY 11368-3235
      View Details
    • Value Estimation
      $240,000
      2,106 SF

      11107 Roosevelt Ave

      MANUFACTURING (LIGHT) • 2,106 SF
      11107 Roosevelt Ave, Flushing, NY 11368-2625
      View Details
    • Value Estimation
      $375,000
      7,725 SF

      5050 98th St

      FACTORY (MANUFACTURING) • 7,725 SF
      5050 98th St, Flushing, NY 11368-3023
      View Details

    Similar Nearby for Sale

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      Industrial Buildings Package Deal

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      Industrial Buildings Package in Corona

      Four industrial buildings for sale in Corona, Queens.
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    • $5,300,000
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      Corona Warehouse with Parking

      Warehouse in Corona with parking and tenant lease.
      5002 97Th Pl, Corona, NY 11368
      View Details
    • $2,750,000
      Pending

      Industrial Property in Corona, NY

      Industrial property available for sale in Corona, Queens, New York.
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    • $1,888,000
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      Five-Family House in Corona, NY

      Five-family brick house for sale in Corona, being sold as-is.
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      View Details
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      Corona Multifamily Investment Opportunity

      Two well-maintained buildings with 32 units in Corona, NY.
      33-54 99Th St, Corona, NY 11368
      View Details

    Similar Nearby for Lease

    • $75 SF/Yr
      4,000 SF

      Junction Blvd Retail Space

      4,000 SF Retail Space - Jackson Heights
      38-39 Jct Blvd, New York, NY 11368
      View Details
    • Contact for pricing
      75,000 SF

      Roosevelt Avenue Retail Portfolio

      Queens Retail Space: Multiple Units Available
      0 Roosevelt Ave, Queens, NY 11368
      View Details
    • Contact for pricing
      2,100 SF

      Retail Space in Urban Corridor

      Retail space with high pedestrian traffic near the #7 train.
      3713-3715 Junction Blvd, Corona, NY 11368
      View Details
    • $8,900 /Mo

      Brand New Office Spaces

      New office spaces for lease in Corona, Queens.
      110-72 Corona Ave, Flushing, NY 11368
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    • $4,200 /Mo

      Retail Store for Rent

      Store for rent suitable for various businesses.
      95-15 Northern Blvd, Queens, NY 11368
      View Details
    • $2,500 /Mo

      Renovated Apartment in Corona, Queens

      Renovated 2-bedroom apartment in prime Corona, Queens location.
      104-44 42Nd Ave, Flushing, NY 11368
      View Details
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    5002 97Th Pl
    Corona, NY 11368
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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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