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    Property profile & analytics

    6961 78th St Flushing, NY 11379-2845

    • Warehouses
    • 4,440 SF
    • 0.13 lot acres
    OFF-MARKET
    Value Estimations
    $365,000
    Show details
    Cap Rate Potential
    9.2%
    Warehouses
    Location Intelligence
    Property ID
    US63-2916297
    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 6961 78th St

    Year built
    1963
    Lot size
    0.13 lot acres
    Property size
    4,440 SF
    Zone code
    M1-1
    Property type
    Warehouses
    APN
    03798-0105
    APU
    37980105

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $370,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $307,000
      Market price range: $138k - $503k

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

    Location Insight

    • Map
    • Local Demand
    City
    Flushing
    County
    Queens
    State
    New York
    Longitude
    -73.8738
    Latitude
    40.7081
    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
    $29,170
    $78,750
    $196,650
    $275,400
    -
    $175,000
    $437,000
    $612,000

    Comparable in this City

    • Value Estimation
      $295,000
      1,440 SF

      6973 74th St

      WAREHOUSE, STORAGE • 1,440 SF
      6973 74th St, Flushing, NY 11379-2516
      View Details
    • Value Estimation
      $320,000
      2,000 SF

      6943 76th St

      WAREHOUSE, STORAGE • 2,000 SF
      6943 76th St, Flushing, NY 11379-2828
      View Details
    • Value Estimation
      $1,120,000
      877 SF

      6758 73rd Pl

      WAREHOUSE, STORAGE • 877 SF
      6758 73rd Pl, Flushing, NY 11379
      View Details
    • Value Estimation
      $545,000
      10,300 SF

      7915 69th Dr

      WAREHOUSE, STORAGE • 10,300 SF
      7915 69th Dr, Flushing, NY 11379-2904
      View Details
    • Value Estimation
      $325,000
      3,519 SF

      6515 Metropolitan Ave

      WAREHOUSE, STORAGE • 3,519 SF
      6515 Metropolitan Ave, Flushing, NY 11379-1617
      View Details
    • Value Estimation
      $555,000
      11,400 SF

      6222 Metropolitan Ave

      WAREHOUSE, STORAGE • 11,400 SF
      6222 Metropolitan Ave, Flushing, NY 11379-1605
      View Details

    Similar Nearby for Sale

    • $19,500,000
      60,000 SF

      Queens Industrial Warehouse For Sale

      60,000 SF Warehouse, Manufacturing Space
      70-10 74 St, Queens, NY 11379
      View Details
    • $1,295,000
      1,848 SF

      Middle Village Two-Family Brick Home

      Well-maintained duplex near Juniper Valley Park, ideal for owner-occupancy.
      6404 78Th St, Middle Village, NY 11379
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    • $1,500,000

      Queens Specialty Property For Sale

      Specialty property available in Queens, New York.
      58-09 61St St, Flushing, NY 11379
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    • $1,199,000

      Two-Family Home with Garage

      Two-family home featuring a detached garage and private yard.
      8017 Cowles Ct, Flushing, NY 11379
      View Details
    • $1,800,000
      Pending

      Renovated Middle Village Three-Family Home

      Corner brick three-family home with garage, renovated, near Juniper Valley Park.
      7521 Caldwell Ave, Middle Village, NY 11379
      View Details
    • $1,128,000
      0.04 Acres

      Two-Family Home in Middle Village

      Well-maintained two-family home with private backyard and front driveway.
      6932 Eliot Ave, Middle Village, NY 11379
      View Details

    Similar Nearby for Lease

    • $32,000
      11,000 SF

      Middle Village Warehouse For Rent

      11,000 Sq Ft warehouse with parking available for rent.
      6222 Metropolitan Ave, Middle Village, NY 11379
      View Details
    • $19,500,000
      24,000 SF

      Middle Village Warehouse/Manufacturing Space

      60,000 SF industrial building with interior parking.
      7010 74Th St, Middle Village, NY 11379
      View Details
    • $900 /Mo

      Double Garage For Rent

      Double garage available for rent.
      6308 71St St, Flushing, NY 11379
      View Details
    • $2,800 /Mo

      Retail Space on Metropolitan Avenue

      Retail space for rent in a high-traffic area.
      75-08 Metropolitan Ave, Middle Village, NY 11379
      View Details
    • $3,300 /Mo

      Updated Apartment in Middle Village

      Modern 3-bedroom apartment in a desirable neighborhood.
      73-22 67Th Rd, Middle Village, NY 11379
      View Details
    • $10,000 /Mo

      Prime Commercial Space Available

      Commercial space ideal for retail, office, or coffee shop.
      75-20 Metropolitan Ave, Flushing, NY 11379
      View Details
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    6961 78th St
    Flushing, NY 11379-2845
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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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