9509 57th Ave Flushing, NY 11373-4616
Entity Owned
1-yr Hold
Free & Clear
Estimated value (blended)
$1.32M
Range $1.19M – $1.45M (±10%)
Implied cap rate
2.00%
In-place · NOI ÷ last sale
Property ID
US63-3888009
Property summary
AI-generated overview
This exceptional mixed-use property, situated on a 0.04-acre lot (20x82.9 feet) in Elmhurst, NY, presents a lucrative investment opportunity. The 1,510-square-foot building, constructed in 1993 and fully renovated, boasts new plumbing, electrical, and a 2-year-old gas system. Currently, the first floor generates a substantial monthly income of $10,000 from a restaurant tenant. The property's R6A and C1-2 zoning allows for a significant buildable area of 5,016 square feet, offering considerable future development potential. Its prime location in a bustling Elmhurst neighborhood provides easy access to public transportation, schools, a library, banks, and supermarkets, with the Queens Mall just a 5-minute walk away. This brick building represents a rare chance to acquire a high-performing, mixed-use asset in a highly desirable area with strong rental income and significant upside potential. The property's recent renovations ensure minimal maintenance needs, maximizing return on investment. This is a must-see for discerning investors seeking a strong, established income stream with future expansion possibilities. The property is priced at $1,998,000.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1993
Total area
1,510 SF
Lot
0.04 ac (1,672 SF)
Zoning code
R6A
APN
01903-0001
UPID
US63-3888009
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.40M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.30M
Blend (final)
Blend
$1.32M
Owner & transaction history
since 2025
Last sale
$1.6M
2 recorded transactions
Zoning & alternative use
R6A · Flushing, NY
Top alternative use upside
Auto repair, garage
$2.1M
+85.7%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 6 comparables with addresses
3 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$1.32M
Value range
$1.19M – $1.45M
±10% around blend
Estimated value / SF
$874 / SF
Confidence
High
6 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
60
$1.19M
blend $1.32M
$1.45M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
1,510 SF
Lot area
0.04 ac
Year built
1993
Stories
1
APN
01903-0001
Assessed value
$199,800
Annual tax
$20,257
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$1.37M
Weighted, 6 comps · high confidence
Evidence
6 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
4.0 mi away · 1,700 SF
6.8 mi away · 1,227 SF
7.5 mi away · 1,607 SF
8.4 mi away · 1,750 SF
8.6 mi away · 1,595 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.32M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 26 sales
$742
+18%
Submarket 185 sales
$741
+18%
County 394 sales
$576
+52%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $874/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Auto Repair, Garage
Gross theoretical uplift
+86%
vs current-use indication
Retail Stores · current use
Office Building
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 6 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Implied cap rate
2.00%
Implied, in-place cap rate for this retail space
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
NOI (est.)
$111k *
Last sale · Apr 2025
$1.58M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$5.53M
Move the market yield to see immediate price impact.
Value / SF
$3,662
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
1.50%2.00%2.50%
$100k
$6.64M
$4.98M
$3.98M
$111k
$7.37M
$5.53M
$4.42M
$122k
$8.11M
$6.08M
$4.87M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
6 found
High confidence · county-verified
Closest comparable
$1.15M
3.5 mi · Feb 2026 · $1,065/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$20,257
Tax year 2024
Assessed value
$199,800
Assessed 2024
Previous assessed
$176,400
+13.3% YoY
Effective rate
10.14%
On assessed value
Assessed land
$60,750
Assessed improvement
$139,050
Land market value
$135,000
Improvement market value
$309,000
Total market value
$444,000
Applied tax rate
4.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1993
Heating
NONE
Buildings
1
Stories
1
Units
1
Total area
1,510 SF
Lot
0.04 ac (1,672 SF)
Zoning code
R6A
APN
01903-0001
UPID
US63-3888009
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R6A · Flushing, NYZoning R6A · permitted uses
R6A · Flushing, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1993
Heating
NONE
Stories
1
Buildings
1
Units
1
Lot
0.04 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
R6A
Jurisdiction
Flushing, NY
Recorded code
R6A
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