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Property profile & analytics
OFF-MARKET
Warehouses
915 38th Ave, Long Island City, NY 11101-6018
Entity Owned
~
Est. High Equity
Property ID
US63-0771595
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1951
Total area
6,186 SF
Lot
0.07 ac (3,093 SF)
Zoning code
M1-3
APN
00359-0039
UPID
US63-0771595
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
Current use
Occupant on record · Public records
-
Vardaris Tech Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
9-15 38th Ave LLC
9-15 38th Ave LLC
since 2025
Last sale
$2.4M
7 recorded transactions
Zoning & alternative use
M1-3 · Long Island City, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Long Island City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Long Island City 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$29,923
Tax year 2024
Assessed value
$312,750
Assessed 2024
Previous assessed
$270,270
+15.7% YoY
Effective rate
9.57%
On assessed value
Assessed land
$75,150
Assessed improvement
$237,600
Land market value
$167,000
Improvement market value
$528,000
Total market value
$695,000
Applied tax rate
4.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1951
Heating
NONE
Buildings
1
Stories
2
Units
1
Total area
6,186 SF
Lot
0.07 ac (3,093 SF)
Zoning code
M1-3
APN
00359-0039
UPID
US63-0771595
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M1-3 · Long Island City, NY
Zoning M1-3 · permitted uses
M1-3 · Long Island City, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Long Island City. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1951
Heating
NONE
Stories
2
Buildings
1
Units
1
Lot
0.07 ac
Current owner
From public records · entity-resolved
9-15 38th Ave LLC
Entity
Mailing address
915 38TH AVE, LONG ISLAND CITY, NY 11101-6018
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 24, 2025
$2,400,000
9-15 38th Ave LLC
Jace Holdings LLC
Deed
—
Feb 3, 2015
$1,900,000
Jace Holdings LLC
9-15 38th Street LLC
Deed
$950,000 · Mercantile Capital Corporation
Aug 25, 2005
—
9-15 38th Street LLC
Vardaris Tech INC
Grant Deed
related
$1,040,000 · Bank Of America
Jun 2, 1999
$210,000
Vardaris Tech INC
Burkhardt,al
Grant Deed
$200,000 · Seller
—
—
Jace Holdings LLC
—
Deed Of Trust
related
$742,000 · Business Initiative Corp/new Y
—
—
9-15 38th Street LLC
—
Deed Of Trust
related
$300,000 · Asset Based Lending LLC
—
—
9-15 38th Street LLC
—
Deed Of Trust
related
$500,000 · Bank Of America
—
—
Vardaris Tech INC
—
Deed Of Trust
related
$450,000 · Marathon National Bank
—
—
9-15 38th Street LLC
—
Deed Of Trust
related
$500,000 · Bank Of America
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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