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

    8425 Elmhurst Ave Ste P2 Flushing, NY 11373-3336

    • Office Properties & Spaces
    • 661 SF
    OFF-MARKET
    Last Sale
    Oct 11, 2023
    $305,000
    Value Estimations
    $280,000
    Show details
    Cap Rate Potential
    3.5%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US63-3460402
    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

    • Office Properties & Spaces

    Property Details for 8425 Elmhurst Ave Ste P2

    Property size
    661 SF
    Zone code
    R7B
    Property type
    Office Properties & Spaces
    APN
    01518-1002
    APU
    15181002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $245,000
      ML approach
      $240,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $382,000
      Market price range: $140k - $382k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $265,000
      Current use
      WAREHOUSE, STORAGE
      $340,000
      Change: +28% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Flushing
    County
    Queens
    State
    New York
    Longitude
    -73.8806
    Latitude
    40.7428
    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
    $8,154
    $4,410
    $75,462
    $79,872
    -
    $9,799
    $167,694
    $177,493

    Comparable in this City

    • Value Estimation by Request
      11,945 SF

      41-12 77 St

      Medical offices • 11,945 SF
      41-12 77 St, Queens, NY 11373
      View Details
    • Value Estimation by Request
      40,000 SF

      90-02 Queens Blvd

      Office Properties & Spaces • 40,000 SF
      90-02 Queens Blvd, Queens, NY 11373
      View Details
    • Value Estimation
      $275,000
      1,424 SF

      9411 60th Ave, Unit 1D

      OFFICE (GENERAL) • 1,424 SF
      9411 60th Ave, Flushing, NY 11373-5043
      View Details
    • Value Estimation by Request
      2,800 SF

      82-12 Roosevelt Ave

      Office Properties & Spaces • 2,800 SF
      82-12 Roosevelt Ave, Queens, NY 11373
      View Details
    • Value Estimation by Request
      1,610 SF

      82-25 Queens Blvd

      Office space • 1,610 SF
      82-25 Queens Blvd, Queens, NY 11373
      View Details
    • Value Estimation by Request

      89-08 43Rd Ave

      Flex space
      89-08 43Rd Ave, Queens, NY 11373
      View Details

    Similar Nearby for Sale

    • $1,100,000
      1,336 SF

      Elmhurst Office Space - Prime Location

      High-traffic Elmhurst office, excellent lease potential.
      8409 Queens Blvd, Elmhurst, NY 11373
      View Details
    • $375,000

      Elmhurst Office Condo - Prime Location

      Spacious medical office, 938 sq ft, parking included.
      8708 Justice Ave, Elmhurst, NY 11373
      View Details
    • $8,419,694
      7,563 SF

      Queens Medical Office - Net Lease

      DaVita-Leased Medical Building, Strong ROI
      79-21 Queens Blvd, Queens, NY 11373
      View Details
    • $1,750,000
      2,776 SF

      Queens Corner Store Investment

      High-Yield Multi-Tenant Property
      87-97 Corona Ave, Queens, NY 11373
      View Details
    • $7,250,000
      11,945 SF

      Luxury Medical Office Building, Queens

      Five-story, 11,945 sq ft medical office building
      41-12 77 St, Queens, NY 11373
      View Details
    • $1,700,000
      2,634 SF

      Queens Medical Office Building

      Prime Elmhurst location, high NOI.
      40-32 Forley St, Queens, NY 11373
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      40,000 SF

      Queens Blvd Executive Office Space

      40,000 SF Office, Prime Location
      90-02 Queens Blvd, Queens, NY 11373
      View Details
    • $40 SF/Yr
      2,300 SF

      Elmhurst Office Space - 2300 sq ft

      Prime Queens location, 2300 sq ft office
      86-26 Broadway, Queens, NY 11373
      View Details
    • $4,000 /Mo

      Elmhurst Commercial Office Space

      1,050 SF office space for lease in Elmhurst.
      8329 Level, Queens, NY 11373
      View Details
    • $60 SF/Yr

      Elmhurst Commercial Space for Lease

      Ground-floor commercial space in Elmhurst with flexible layout.
      88-08 Justice Ave, Elmhurst, NY 11373
      View Details
    • $6,800 /Mo
      2,614 SF

      Elmhurst Office Space Available

      2200 sqft office space in Elmhurst, close to transportation.
      40-11 Warren St, Elmhurst, NY 11373
      View Details
    • $2,000 /Mo
      600 SF

      Elmhurst Medical Office Space Available

      600 SF medical office space for lease in prime location.
      83-40 Britton Ave, Elmhurst, NY 11373
      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.
    8425 Elmhurst Ave Ste P2
    Flushing, NY 11373-3336
    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.