Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6229 102nd St Flushing, NY 11374-1456

    • Apartment buildings
    • 6,020 SF
    • 0.09 lot acres
    OFF-MARKET
    Last Sale
    Apr 29, 2024
    Value Estimations
    $1,210,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1210878
    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

    • Apartment buildings

    Property Details for 6229 102nd St

    Year built
    1983
    Lot size
    0.09 lot acres
    Property size
    6,020 SF
    Zone code
    R4
    Property type
    Apartment buildings
    APN
    02122-0010
    APU
    21220010

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,340,000
      Current use
      COMMERCIAL (GENERAL)
      $1,810,000
      Change: +35% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Flushing
    County
    Queens
    State
    New York
    Longitude
    -73.8555
    Latitude
    40.7348
    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
    $43,398
    $14,400
    $468,900
    $483,300
    -
    $32,000
    $1,042,000
    $1,074,000

    Comparable in this City

    • Value Estimation
      $7,915,000
      50,400 SF

      6485 Wetherole St

      APARTMENT HOUSE (5+ UNITS) • 50,400 SF
      6485 Wetherole St, Flushing, NY 11374-4067
      View Details
    • Value Estimation
      $18,010,000
      125,610 SF

      6360 98th St

      APARTMENT HOUSE (5+ UNITS) • 125,610 SF
      6360 98th St, Flushing, NY 11374-2238
      View Details
    • Value Estimation
      $5,300,000
      33,276 SF

      6345 Wetherole St

      APARTMENT HOUSE (5+ UNITS) • 33,276 SF
      6345 Wetherole St, Flushing, NY 11374-2935
      View Details
    • Value Estimation
      $11,195,000
      76,643 SF

      6325 Saunders St

      APARTMENT HOUSE (5+ UNITS) • 76,643 SF
      6325 Saunders St, Flushing, NY 11374-2034
      View Details
    • Value Estimation
      $16,845,000
      119,040 SF

      8911 63rd Dr

      APARTMENT HOUSE (5+ UNITS) • 119,040 SF
      8911 63rd Dr, Flushing, NY 11374-3852
      View Details
    • Value Estimation
      $8,000,000
      55,300 SF

      9944 62nd Ave

      APARTMENT HOUSE (5+ UNITS) • 55,300 SF
      9944 62nd Ave, Flushing, NY 11374-1447
      View Details

    Similar Nearby for Sale

    • $330,000

      Rego Park Co-op Apartment

      Spacious, sunny co-op with doorman in prime location.
      63-33 98Th Pl, Flushing, NY 11374
      View Details
    • $619,000

      Queens Multifamily Property For Sale

      Multifamily property in Queens available for purchase.
      9737 63Rd Rd, Flushing, NY 11374
      View Details
    • $325,000

      Renovated Apartment with Bonus Room

      Sun-drenched apartment featuring renovated kitchen, bathroom, and bonus room.
      6515 Alderton St, Flushing, NY 11374
      View Details
    • $539,000

      Bright Corner Coop with Garage

      Spacious 2 bed, 2 bath coop with included garage spot.
      99-15 66Th Ave, Flushing, NY 11374
      View Details
    • $1,999,000

      Renovated Multifamily Property in Rego Park

      Newly renovated 3-family detached property near Rego Center shopping mall.
      97-19 63Rd Dr, Flushing, NY 11374
      View Details
    • $325,000

      Spacious Apartment with Manhattan Views

      Two-bedroom apartment in prime location with skyline views.
      99-72 66Th Rd, Flushing, NY 11374
      View Details

    Similar Nearby for Lease

    • $2,800 /Mo

      Renovated Apartment with Balcony

      Renovated 1BR apartment with balcony and 24hr doorman.
      97-10 62Nd Dr, Flushing, NY 11374
      View Details
    • $3,000 /Mo

      Spacious Alcove Studio Apartment

      Luxury studio with city views, gourmet kitchen, and modern amenities.
      61-55 Junction Blvd, Flushing, NY 11374
      View Details
    • $2,000 /Mo

      Renovated Studio Apartment in Rego Park

      Newly renovated studio apartment in elevator building, convenient location.
      6434 102Nd St, Flushing, NY 11374
      View Details
    • $2,200 /Mo

      Spacious One Bedroom Apartment

      Large prewar apartment in central Rego Park location.
      62-98 Saunders St, Flushing, NY 11374
      View Details
    • Contact for pricing
      3,916 SF

      Woodhaven Blvd Retail Space For Lease

      High-visibility retail space in Queens.
      7325 Woodhaven Blvd, Queens, NY 11374
      View Details
    • Contact for pricing
      29,991 SF

      Rego Park Office Space

      Office space available for lease in Rego Park, NY.
      97-77 Queens Blvd, Rego Park, NY 11374
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    6229 102nd St
    Flushing, NY 11374-1456
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.