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Property profile & analytics
OFF-MARKET
Estimated value
$18,800,000
Apartment buildings
8856 162nd St, Jamaica, NY 11432-4164
Entity Owned
1-yr Hold
Property ID
US63-5012179
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2019
Total area
49,264 SF
Lot
0.23 ac (9,970 SF)
Zoning code
R7A
APN
09767-0059
UPID
US63-5012179
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$18.80M
CAP Approach
CAP
$18.53M
Comparable Approach
Comparable
$16.39M
Blend (final)
Blend
$18.80M
Owner & transaction history
Jamaica 8856 LLC · 1 yrs held
Jamaica 8856 LLC
since 2024
Last sale
$18.8M
7 recorded transactions
Zoning & alternative use
R7A · Jamaica, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$23.6M
+97.8%
Warehouse, storage
$22.0M
+83.7%
Commercial (general)
$18.7M
+56.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Jamaica submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Jamaica submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$18,800,000
ML approach
$18,800,000
CAP Approach
CAP Return
Estimation
6%
$20,070,000
6.5%
$18,525,000
7%
$17,205,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$11,955,000
Current use
INDUSTRIAL (GENERAL)
$23,635,000
Change: +98% · Conversion: Difficult
WAREHOUSE, STORAGE
$21,960,000
Change: +84% · Conversion: Difficult
COMMERCIAL (GENERAL)
$18,655,000
Change: +56% · Conversion: Moderate
OFFICE BUILDING
$18,225,000
Change: +52% · Conversion: Moderate
Blend value · Realmo final
$18.80M
Range $16.92M – $20.68M · ±10% · vs last sale $18.80M (Nov 20 2024)
Last sale anchor
$18.80M
Nov 20 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$382 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$4,462
Tax year 2024
Assessed value
$3,525,750
Assessed 2024
Previous assessed
$3,495,600
+0.9% YoY
Effective rate
0.13%
On assessed value
Assessed land
$403,650
Assessed improvement
$3,122,100
Land market value
$897,000
Improvement market value
$6,938,000
Total market value
$7,835,000
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
2019
Heating
NONE
Buildings
1
Stories
7
Units
51
Total area
49,264 SF
Lot
0.23 ac (9,970 SF)
Zoning code
R7A
APN
09767-0059
UPID
US63-5012179
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R7A · Jamaica, NY
Zoning R7A · permitted uses
R7A · Jamaica, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Jamaica. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$12.0M
INDUSTRIAL (GENERAL)
Est. value
$23.6M
WAREHOUSE, STORAGE
Est. value
$22.0M
COMMERCIAL (GENERAL)
Est. value
$18.7M
OFFICE BUILDING
Est. value
$18.2M
APARTMENT HOUSE (5+ UNITS) Current
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2019
Heating
NONE
Stories
7
Buildings
1
Units
51
Lot
0.23 ac
Current owner
From public records · entity-resolved
Jamaica 8856 LLC
Entity
Mailing address
16063 27TH AVE, FLUSHING, NY 11358-1011
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 20, 2024
$18,800,000
Jamaica 8856 LLC
89th Ave Project LLC
Deed
$14,304,000 · Fannie Mae
Dec 21, 2021
—
89th Ave Project LLC
—
Deed
related
$5,104,000 · Arbor Commercial Funding I, LLC
Aug 5, 2021
—
89th Ave Project LLC
Jamaica Tower Condominium LLC
Correction Deed
related
—
Nov 8, 2019
—
89th Ave Project LLC
Jamaica Tower Condo LLC
Correction Deed
related
—
Feb 28, 2019
—
89th Ave Project LLC
—
Grant Deed
related
$7,845,000 · Popular Bk
Jul 21, 2017
$4,300,000
89th Ave Project LLC
Jamaica Tower Condo LLC
Grant Deed
—
Sep 15, 2006
$2,655,000
Jamaica Tower Condo LLC
Seaview Dev Corp
Grant Deed
$1,100,000 · Seaview Dev Corp
Dec 6, 2005
$1,100,000
Seaview Development Corp
88-56 162nd Street LLC
Grant Deed
—
Oct 1, 2004
$790,000
88-56 162nd Street LLC
Shariff,muzeepha
Grant Deed
—
Jul 13, 2004
$395,000
Muzeepha Shariff
Edwards,colin & Doreen
Grant Deed
—
Oct 6, 1998
—
Clyde Edwards
Edwards,clyde & Ventrist
Quit Claim Deed
related
$177,915 · Fleet Mortgage Corp
—
—
Jamaica Tower Condominum LLC
—
Deed Of Trust
related
$500,000 · Rolen Sabet
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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