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    Property profile & analytics

    8402 37th Ave Flushing, NY 11372-7339

    • Retail space
    • 22,000 SF
    • 0.46 lot acres
    OFF-MARKET
    Value Estimations
    $5,380,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1733539
    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

    • Retail space

    Property Details for 8402 37th Ave

    Year built
    1949
    Lot size
    0.46 lot acres
    Property size
    22,000 SF
    Zone code
    R7-1
    Property type
    Retail space
    APN
    01472-0001
    APU
    14720001

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $6,545,000
      6.5%
      $6,040,000
      7%
      $5,610,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Flushing
    County
    Queens
    State
    New York
    Longitude
    -73.8819
    Latitude
    40.7498
    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
    $259,912
    $585,000
    $1,868,850
    $2,453,850
    -
    $1,300,000
    $4,153,000
    $5,453,000

    Comparable in this City

    • Value Estimation
      $2,805,000
      18,160 SF

      9012 Roosevelt Ave

      RETAIL STORES (PERSONAL SERVICES) • 18,160 SF
      9012 Roosevelt Ave, Flushing, NY 11372-7939
      View Details
    • Value Estimation
      $1,615,000
      8,947 SF

      8701 Roosevelt Ave

      RETAIL STORES (PERSONAL SERVICES) • 8,947 SF
      8701 Roosevelt Ave, Flushing, NY 11372-7831
      View Details
    • Value Estimation
      $3,760,000
      14,470 SF

      9109 Roosevelt Ave, Unit 3

      RETAIL STORES (PERSONAL SERVICES) • 14,470 SF
      9109 Roosevelt Ave, Flushing, NY 11372-7995
      View Details
    • Value Estimation
      $1,935,000
      12,500 SF

      7802 Northern Blvd

      RETAIL STORES (PERSONAL SERVICES) • 12,500 SF
      7802 Northern Blvd, Flushing, NY 11372-1222
      View Details
    • Value Estimation
      $3,475,000
      12,174 SF

      8501 Northern Blvd

      RETAIL STORES (PERSONAL SERVICES) • 12,174 SF
      8501 Northern Blvd, Flushing, NY 11372-1537
      View Details
    • Value Estimation
      $3,215,000
      22,150 SF

      8901 Northern Blvd

      RETAIL STORES (PERSONAL SERVICES) • 22,150 SF
      8901 Northern Blvd, Flushing, NY 11372-1674
      View Details

    Similar Nearby for Sale

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      Jackson Heights Commercial Building For Sale

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      Mixed-use building in prime location with retail and residential units.
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      Jackson Heights Restaurant For Sale

      Turnkey restaurant in prime Jackson Heights location, ready for immediate operation.
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      Jackson Heights Mixed-Use Investment

      Prime Jackson Heights location, 14,000 sq ft, high NOI.
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      Fully occupied commercial building in high-traffic area with development potential.
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    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
      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
    • 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
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    • $2,800 /Mo
      600 SF

      Jackson Heights Mixed-Use Space Available

      600 SF office/retail space for rent in Jackson Heights.
      75-16 Roosevelt Ave, Jackson Heights, NY 11372
      View Details
    • Contact for pricing
      5,600 SF

      Versatile Retail/Medical/Office Space Available

      Adaptable space suitable for retail, medical, or office tenants.
      7315 Northern Blvd, Jackson Heights, NY 11372
      View Details
    • $20,000 /Mo

      Retail Store in Prime Location

      Retail space for lease in Jackson Heights/Corona border.
      9501 37Th Ave, Jackson Heights, NY 11372
      View Details
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    8402 37th Ave
    Flushing, NY 11372-7339
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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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