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    7202 Myrtle Ave Glendale, NY 11385
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    Property profile & analytics

    7202 Myrtle Ave Glendale, NY 11385

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    • Commercial real estate
    • 5,652 SF
    Off-Market
    Property ID
    US63-2440601
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 7202 Myrtle Ave

    Year built
    1931
    Property size
    5,652 SF
    Property type
    Commercial real estate

    Description

    This exceptional 5,652 square foot commercial building is situated on a prominent corner lot at 7202 Myrtle Avenue in Glendale, NY. Completely remodeled within the last nine years, this property presents a remarkable opportunity for a wide range of businesses. The lower level features a vast, open floor plan offering unparalleled flexibility. Two bathrooms, a dedicated dining area, and a private office space are included on this level, providing ample room for both work and potential client interaction. Ascending to the upper level reveals another expansive room, perfect for additional office space or a versatile secondary area, along with an additional bathroom. The building's excellent condition is further evidenced by its recently updated systems: a nine-year-old furnace and a six-year-old roof ensure low maintenance costs and peace of mind. The property's exterior is meticulously maintained, reflecting the high standard of upkeep found throughout. Its convenient location offers easy access to New York City, with the Jackie Robinson Parkway nearby and the Long Island Expressway just a 10-15 minute drive away. This prime Glendale location provides exceptional visibility and accessibility, making it an outstanding investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Glendale
    County
    Queens
    State
    New York
    Longitude
    -73.87797
    Latitude
    40.70193

    Comparable in this City

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      High-traffic location, strong rental income.
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      Ridgewood Commercial Space with Kitchen

      Prime Myrtle Avenue location, fully equipped kitchen, turnkey restaurant opportunity.
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    • $1,749,000
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      Glendale Investment Property with Garages

      Two-family house with garages on a large lot.
      70-14 69Th St, Glendale, NY 11385
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      Ridgewood Multifamily Investment Opportunity

      Well-located, three-story multifamily property in a desirable Queens neighborhood.
      17-15 Stanhope St, Ridgewood, NY 11385
      View Details

    Similar Nearby for Sale

    • $2,480,000
      4,821 SF

      Glendale Corner Retail & Apartments

      High-traffic location, strong rental income.
      6601 Myrtle Ave, Glendale, NY 11385
      View Details
    • $1,374,999
      5,625 SF

      Six-Unit Ridgewood Investment

      Legal 6-unit, rent-stabilized building.
      1810 George St, Ridgewood, NY 11385
      View Details
    • $2,199,000
      5,175 SF

      603 Woodward Ave, Ridgewood, NY 11385

      Commercial real estate • 5,175 SF
      603 Woodward Ave, Ridgewood, NY 11385
      View Details
    • Contact for pricing
      832 SF

      Ridgewood Commercial Space with Kitchen

      Prime Myrtle Avenue location, fully equipped kitchen, turnkey restaurant opportunity.
      6019 Myrtle Ave, Ridgewood, NY 11385
      View Details
    • $1,749,000
      77.00 Acres

      Glendale Investment Property with Garages

      Two-family house with garages on a large lot.
      70-14 69Th St, Glendale, NY 11385
      View Details
    • Contact for pricing
      4,875 SF

      Ridgewood Multifamily Investment Opportunity

      Well-located, three-story multifamily property in a desirable Queens neighborhood.
      17-15 Stanhope St, Ridgewood, NY 11385
      View Details

    Similar Nearby for Lease

    • $2,300 /Mo
      376 SF

      Ridgewood Retail/Office Space For Lease

      376 SF retail/office space in Ridgewood, well-trafficked corridor.
      1829 Grove St, Ridgewood, NY 11385
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      Retail Space on Myrtle Avenue

      Retail space available on Myrtle Avenue in Queens, New York.
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      10,000 SF

      Glendale Industrial Space with High Ceilings

      10,000+ SF industrial space with shared loading dock.
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      6,000 SF

      Remodeled Retail Space on Myrtle

      Recently remodeled retail space with high traffic exposure.
      5505 Myrtle Ave, Ridgewood, NY 11385
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      10,000 SF

      Ridgewood Warehouse with Subway Access

      10,000 SF warehouse with 16' ceilings near subways.
      16-45 Decatur St, Ridgewood, NY 11385
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    • $2,595 /Mo
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      Ridgewood Commercial Space with Basement

      380 SF ground-floor space with massive basement and private entrance.
      1829 Grove St, Ridgewood, NY 11385
      View Details
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    Glendale, NY 11385
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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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