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

    7412 37th Ave Flushing, NY 11372-6340

    • Retail space
    • 8,563 SF
    • 0.23 lot acres
    OFF-MARKET
    Last Sale
    Dec 13, 2023
    Value Estimations
    $395,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2273483
    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

    • Apna Express Discount & Pharmacy / Drug Store / Health And Beauty Shop

    Property Details for 7412 37th Ave

    Year built
    1948
    Lot size
    0.23 lot acres
    Property size
    8,563 SF
    Zone code
    C4-3
    Property type
    Retail space
    APN
    01285-0040
    APU
    12850040

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $395,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Flushing
    County
    Queens
    State
    New York
    Longitude
    -73.8912
    Latitude
    40.7488
    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
    $192,658
    $472,500
    $1,448,550
    $1,921,050
    -
    $1,050,000
    $3,219,000
    $4,269,000

    Comparable in this City

    • Value Estimation
      $450,000
      8,000 SF

      9401 37th Ave

      RETAIL STORES (PERSONAL SERVICES) • 8,000 SF
      9401 37th Ave, Flushing, NY 11372-7917
      View Details
    • Value Estimation
      $565,000
      16,900 SF

      7602 37th Ave

      RETAIL STORES (PERSONAL SERVICES) • 16,900 SF
      7602 37th Ave, Flushing, NY 11372
      View Details
    • Value Estimation
      $380,000
      11,840 SF

      8202 37th Ave

      RETAIL STORES (PERSONAL SERVICES) • 11,840 SF
      8202 37th Ave, Flushing, NY 11372-7023
      View Details
    • Value Estimation
      $440,000
      9,360 SF

      3727 74th St

      RETAIL STORES (PERSONAL SERVICES) • 9,360 SF
      3727 74th St, Flushing, NY 11372-6337
      View Details
    • Value Estimation
      $365,000
      14,275 SF

      3754 90th St

      RETAIL STORES (PERSONAL SERVICES) • 14,275 SF
      3754 90th St, Flushing, NY 11372-7830
      View Details
    • Value Estimation
      $530,000
      18,160 SF

      9012 Roosevelt Ave

      RETAIL STORES (PERSONAL SERVICES) • 18,160 SF
      9012 Roosevelt Ave, Flushing, NY 11372-7939
      View Details

    Similar Nearby for Sale

    • New
      $1,850,000
      2,818 SF

      Jackson Heights Commercial Building For Sale

      Three commercial units suitable for retail, medical, offices, community space.
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    • $2,380,000
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      Jackson Heights Mixed-Use Building

      Mixed-use building in prime location with retail and residential units.
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    • $150,000
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      Jackson Heights Restaurant For Sale

      Turnkey restaurant in prime Jackson Heights location, ready for immediate operation.
      83-12 37Th Ave, Jackson Heights, NY 11372
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    • $16,750,000
      14,000 SF

      Jackson Heights Mixed-Use Investment

      Prime Jackson Heights location, 14,000 sq ft, high NOI.
      37-62 82 St, Queens, NY 11372
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    • $8,200,000
      24,909 SF

      Mixed-Use Building in Jackson Heights

      Fully occupied, rent-stabilized mixed-use building in Jackson Heights, Queens.
      9513-9519 Northern Blvd, Jackson Heights, NY 11372
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    • $28,000,000
      19,000 SF

      Roosevelt Avenue Commercial Investment Opportunity

      Fully occupied commercial building in high-traffic area with development potential.
      8401 Roosevelt Ave, Jackson Heights, NY 11372
      View Details

    Similar Nearby for Lease

    • $3,200 /Mo
      2,881 SF

      Retail Space in Jackson Heights

      Retail space in a popular area near public transportation.
      8816 Roosevelt Ave, Jackson Heights, NY 11372
      View Details
    • Contact for pricing
      3,300 SF

      Retail Space Near 7 Train

      Retail space in high foot traffic area near 7 train.
      3440-3464 Junction Blvd, Jackson Heights, NY 11372
      View Details
    • Contact for pricing
      2,183 SF

      Prime Retail Space Available

      Retail spaces in prime Jackson Heights location, all uses considered.
      3747 74Th St, Jackson Heights, NY 11372
      View Details
    • $7,000 /Mo
      1,600 SF

      Prime Jackson Heights Office Space

      High-traffic office space ideal for retail, medical, or professional use.
      37-53 82Nd St, Jackson Heights, NY 11372
      View Details
    • $16,000 /Mo

      Office/Retail Space for Rent

      Office and retail space available for rent.
      37-20 74Th St, Flushing, NY 11372
      View Details
    • $25,000
      3,400 SF

      Prime Jackson Heights Retail/Office Space

      Two-story commercial building with basement near Roosevelt Avenue subway station.
      3753 82Nd St, Jackson Heights, NY 11372
      View Details
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    7412 37th Ave
    Flushing, NY 11372-6340
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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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