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    Property profile & analytics

    5313 97th Pl Flushing, NY 11368-3026

    • Warehouses
    • 12,625 SF
    • 0.17 lot acres
    OFF-MARKET
    Last Sale
    Sep 14, 2022
    $3,000,000
    Value Estimations
    $2,655,000
    Show details
    Cap Rate Potential
    3.8%
    Warehouses
    Location Intelligence
    Property ID
    US63-0771479
    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

    • Warehouses

    Property Details for 5313 97th Pl

    Year built
    1955
    Lot size
    0.17 lot acres
    Property size
    12,625 SF
    Zone code
    M1-1
    Property type
    Warehouses
    APN
    01898-0020
    APU
    18980020

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,530,000
      ML approach
      $2,660,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,225,000
      6.5%
      $2,975,000
      7%
      $2,765,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,846,000
      Market price range: $3.85M - $10.6M

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

    Location Insight

    • Map
    • Local Demand
    City
    Flushing
    County
    Queens
    State
    New York
    Longitude
    -73.8639
    Latitude
    40.74
    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
    $36,196
    $163,350
    $215,100
    $378,450
    -
    $363,000
    $478,000
    $841,000

    Comparable in this City

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    • Value Estimation
      $9,795,000
      17,105 SF

      12656 Northern Blvd

      WAREHOUSE, STORAGE • 17,105 SF
      12656 Northern Blvd, Flushing, NY 11368-1522
      View Details
    • Value Estimation
      $385,000
      7,855 SF

      4920 108th St

      WAREHOUSE, STORAGE • 7,855 SF
      4920 108th St, Flushing, NY 11368-2910
      View Details
    • Value Estimation
      $280,000
      3,175 SF

      4513 108th St

      WAREHOUSE, STORAGE • 3,175 SF
      4513 108th St, Flushing, NY 11368-2916
      View Details
    • Value Estimation
      $455,000
      10,950 SF

      3341 127th St

      WAREHOUSE, STORAGE • 10,950 SF
      3341 127th St, Flushing, NY 11368
      View Details
    • Value Estimation
      $530,000
      15,104 SF

      9631 43rd Ave

      WAREHOUSE, STORAGE • 15,104 SF
      9631 43rd Ave, Flushing, NY 11368-2142
      View Details

    Similar Nearby for Sale

    • $5,300,000
      Pending

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      Warehouse in Corona with parking and tenant lease.
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    • $6,900,000

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      Four industrial buildings for sale in Queens, New York.
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      Industrial Buildings Package in Corona

      Four industrial buildings for sale in Corona, Queens.
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    • $2,750,000
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      Industrial Property in Corona, NY

      Industrial property available for sale in Corona, Queens, New York.
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    • $1,100,000
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      Corona Duplex Near Corona Avenue

      Two-story duplex in Corona near Corona Avenue, needs renovations.
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      3,528 SF

      Mixed-Use Building in Corona, NY

      Mixed-use building with laundromat and apartments in Corona, NY.
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    Similar Nearby for Lease

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      1,756 SF

      New Retail Space in Corona

      New construction retail space available for rent in Corona.
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    • $6,000 /Mo

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      99-11 37Th Ave, Queens, NY 11368
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      2,100 SF

      Retail Space in Corona, NY

      Retail space with storage basement, heavy traffic, near subway.
      3702-3710 Junction Blvd, Corona, NY 11368
      View Details
    • $3,000 /Mo

      Spacious Three-Bedroom Apartment in Corona

      Comfortable 3-bedroom, 2-bathroom apartment in Corona, Queens, available now.
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      View Details
    • New
      $4,300 /Mo
      1,140 SF

      Corona Retail Pharmacy Storefront Available

      Retail pharmacy store with high visibility and foot traffic available.
      140-01 Northern Boulevard, Corona, NY 11368
      View Details
    • Contact for pricing
      75,000 SF

      Roosevelt Avenue Retail Portfolio

      Queens Retail Space: Multiple Units Available
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      View Details
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    5313 97th Pl
    Flushing, NY 11368-3026
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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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