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Property profile & analytics
OFF-MARKET
Estimated value
$33,665,000
Super regional malls
5131 Northern Blvd Flushing, NY 11377-1732
Entity Owned
~
Est. High Equity
Property ID
US63-2307759
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1961
Total area
30,948 SF
Lot
1.65 ac (72,005 SF)
Zoning code
R5
APN
01153-0010
UPID
US63-2307759
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
$33.67M
CAP Approach
CAP
$22.04M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$33.67M
Owner & transaction history
5131 Northern LLC
5131 Northern LLC
since 2025
Last sale
$33.7M
7 recorded transactions
Zoning & alternative use
R5 · 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 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
$33,665,000
ML approach
$33,665,000
CAP Approach
CAP Return
Estimation
6%
$23,875,000
6.5%
$22,035,000
7%
$20,460,000
Blend value · Realmo final
$33.67M
Range $30.30M – $37.03M · ±10% · vs last sale $33.67M (Feb 14 2024)
Last sale anchor
$33.67M
Feb 14 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
$1,088 / 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
$591,479
Tax year 2024
Assessed value
$5,973,300
Assessed 2024
Previous assessed
$5,523,176
+8.1% YoY
Effective rate
9.90%
On assessed value
Assessed land
$2,430,000
Assessed improvement
$3,543,300
Land market value
$5,400,000
Improvement market value
$7,874,000
Total market value
$13,274,000
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Year built
1961
Heating
NONE
Buildings
3
Stories
1
Units
3
Total area
30,948 SF
Lot
1.65 ac (72,005 SF)
Zoning code
R5
APN
01153-0010
UPID
US63-2307759
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R5 · Flushing, NY
Zoning R5 · permitted uses
R5 · 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
1961
Heating
NONE
Stories
1
Buildings
3
Units
3
Lot
1.65 ac
Current owner
From public records · entity-resolved
5131 Northern LLC
Entity
Mailing address
11115 QUEENS BLVD STE, FOREST HILLS, NY 11375-7479
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 11, 2025
—
5131 Northern LLC
Cord Meyer Development LLC
Deed
related
$42,500,000 · Webster Bank, National Association
Feb 14, 2024
$33,667,444
Cord Meyer Development LLC
Mco
Deed
—
Jan 4, 2024
$21,000,000
5131 Northern LLC
Mco
Deed
—
—
—
—
—
Deed Of Trust
related
$4,750,000 · Riversource Life Insurance
—
—
Riversource Life Ins Co
—
Loan Modification
related
—
—
—
Riversource Life Ins Co
—
Deed Of Trust
related
—
—
—
Riversource Life Ins Co
—
Deed Of Trust
related
—
—
—
Mco
—
Deed Of Trust
related
$32,957 · Riversource Life Insurance
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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