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
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7316 Metropolitan Ave Flushing, NY 11379-2635

    • Retail space
    • 525 SF
    • 0.01 lot acres
    OFF-MARKET
    Last Sale
    Sep 16, 2024
    $365,000
    Value Estimations
    $405,000
    Show details
    Cap Rate Potential
    2.6%
    Retail space
    Location Intelligence
    Property ID
    US63-3008375
    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

    • Western Union / Money Order Service / Money Transfer Service

    Property Details for 7316 Metropolitan Ave

    Year built
    1931
    Lot size
    0.01 lot acres
    Property size
    525 SF
    Zone code
    R5
    Property type
    Retail space
    APN
    03770-0016
    APU
    37700016

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $365,000
      ML approach
      $365,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $517,000
      Market price range: $235k - $694k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $390,000
      Current use
      OFFICE BUILDING
      $355,000
      Change: -8% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Flushing
    County
    Queens
    State
    New York
    Longitude
    -73.8787
    Latitude
    40.7127
    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
    $6,387
    $14,400
    $45,900
    $60,300
    -
    $32,000
    $102,000
    $134,000

    Comparable in this City

    • Value Estimation
      $140,000
      9,300 SF

      7326 Metropolitan Ave

      RETAIL STORES (PERSONAL SERVICES) • 9,300 SF
      7326 Metropolitan Ave, Flushing, NY 11379-2635
      View Details
    • Value Estimation
      $540,000
      11,448 SF

      8011 Eliot Ave

      RETAIL STORES (PERSONAL SERVICES) • 11,448 SF
      8011 Eliot Ave, Flushing, NY 11379-1400
      View Details
    • Value Estimation
      $525,000
      10,131 SF

      8005 Caldwell Ave

      RETAIL STORES (PERSONAL SERVICES) • 10,131 SF
      8005 Caldwell Ave, Flushing, NY 11379-5344
      View Details
    • Value Estimation
      $405,000
      2,254 SF

      7401 Metropolitan Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,254 SF
      7401 Metropolitan Ave, Flushing, NY 11379-2652
      View Details
    • Value Estimation
      $385,000
      7,278 SF

      8210 Eliot Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,278 SF
      8210 Eliot Ave, Flushing, NY 11379-1437
      View Details
    • Value Estimation
      $2,575,000
      10,000 SF

      7915 Eliot Ave

      RETAIL STORES (PERSONAL SERVICES) • 10,000 SF
      7915 Eliot Ave, Flushing, NY 11379-1324
      View Details

    Similar Nearby for Sale

    • $55,000
      1,200 SF

      Established Nail Salon for Sale

      Profitable 1,200 SF nail salon with stable customer base.
      7423 Metropolitan Ave, Flushing, NY 11379
      View Details
    • $3,999,999
      2,470 SF

      Prime Retail on Metropolitan Avenue

      Commercial property on Metropolitan Avenue with high visibility and accessibility.
      75-11 Metropolitan Ave, Middle Village, NY 11379
      View Details
    • $1,899,999
      Pending

      Commercial Lots in Middle Village

      Two adjacent commercial lots in a high-demand Queens neighborhood.
      6934-6936 76Th St, Middle Village, 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
      View Details
    • $1,500,000

      Queens Specialty Property For Sale

      Specialty property available in Queens, New York.
      58-09 61St St, Flushing, NY 11379
      View Details
    • $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

    Similar Nearby for Lease

    • $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
    • $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
    • $1,900 /Mo

      Middle Village Retail/Office Space

      Retail/office space in Middle Village with street exposure.
      75-47 Metropolitan Ave, Middle Village, NY 11379
      View Details
    • $8,000 /Mo

      Retail Space in High-Traffic Area

      1,350 SF retail space with high foot and vehicle traffic.
      6303 Eliot Ave, Flushing, NY 11379
      View Details
    • $4,000 /Mo

      Retail Storefront in Middle Village

      Retail storefront for rent in a busy commercial area.
      75-13 Metropolitan Ave, 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
    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.
    7316 Metropolitan Ave
    Flushing, NY 11379-2635
    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.