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Property profile & analytics
OFF-MARKET
Estimated value
$1,240,000
Office buildings
5209 69th St, Flushing, NY 11378-1459
Individually Owned
2-yr Hold
Free & Clear
Property ID
US63-3901482
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1956
Total area
2,380 SF
Lot
0.11 ac (5,000 SF)
Zoning code
R4-1
APN
02478-0024
UPID
US63-3901482
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
Current use
Occupant on record · Public records
-
Fleet Mechanical Sys Corporation Hardware & Home Improvement HVAC Service
-
Salvatore Abruzzo & Co Cpa's Accounting Firm Tax Preparation
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.29M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.24M
Owner & transaction history
Catherine Fleet · 2 yrs held
Catherine Fleet
since 2024
2 recorded transactions
Zoning & alternative use
R4-1 · Flushing, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.8M
+8.9%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,395,000
6.5%
$1,285,000
7%
$1,195,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,620,000
Current use
RETAIL STORES
$1,765,000
Change: +9% · Conversion: Moderate
Blend value · Realmo final
$1.24M
Range $1.12M – $1.36M · ±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
$521 / 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
$32,440
Tax year 2024
Assessed value
$312,300
Assessed 2024
Previous assessed
$301,950
+3.4% YoY
Effective rate
10.39%
On assessed value
Assessed land
$63,450
Assessed improvement
$248,850
Land market value
$141,000
Improvement market value
$553,000
Total market value
$694,000
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
Off-Market
Year built
1956
Heating
NONE
Buildings
2
Stories
1
Units
3
Total area
2,380 SF
Lot
0.11 ac (5,000 SF)
Zoning code
R4-1
APN
02478-0024
UPID
US63-3901482
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R4-1 · Flushing, NY
Zoning R4-1 · permitted uses
R4-1 · 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
OFFICE BUILDING Current
Est. value
$1.6M
RETAIL STORES
Est. value
$1.8M
OFFICE BUILDING Current
RETAIL STORES
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
1956
Heating
NONE
Stories
1
Buildings
2
Units
3
Lot
0.11 ac
Current owner
From public records · entity-resolved
Catherine Fleet
Individual
Free & Clear · 2 yrs held
Mailing address
123 HEWITT BLVD, CENTER MORICHES, NY 11934-3008
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 8, 2024
—
Catherine Fleet
Catherine B Fleet
Intrafamily Transfer
related
—
Mar 19, 2019
—
Catherine B Fleet
Fleet,thomas P
Quit Claim Deed
related
—
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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