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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    9611 37th Ave Flushing, NY 11368-1765

    • Retail residential properties
    • 17,394 SF
    • 0.11 lot acres
    OFF-MARKET
    Last Sale
    Aug 04, 2022
    $2,925,000
    Value Estimations
    $2,860,000
    Show details
    Cap Rate Potential
    9.1%
    Retail residential properties
    Location Intelligence
    Property ID
    US63-2124866
    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

    • C & R Auto Repairs / Auto Repair Shop

    Property Details for 9611 37th Ave

    Year built
    2023
    Lot size
    0.11 lot acres
    Property size
    17,394 SF
    Zone code
    R6A
    Property type
    Retail residential properties
    APN
    01737-0030
    APU
    17370030

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,465,000
      ML approach
      $2,540,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,730,000
      6.5%
      $3,445,000
      7%
      $3,200,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Flushing
    County
    Queens
    State
    New York
    Longitude
    -73.8704
    Latitude
    40.7519
    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
    $24,084
    $202,500
    $83,745
    $286,245
    -
    $450,000
    $186,100
    $636,100

    Comparable in this City

    • Value Estimation
      $740,000
      6,260 SF

      3810 Jct Blvd

      STORE/OFFICE (MIXED USE) • 6,260 SF
      3810 Jct Blvd, Flushing, NY 11368-2126
      View Details
    • Value Estimation
      $10,275,000
      350,186 SF

      11221 Northern Blvd

      STORES & APARTMENTS • 350,186 SF
      11221 Northern Blvd, Flushing, NY 11368-1337
      View Details
    • Value Estimation
      $755,000
      6,400 SF

      10402 Roosevelt Ave

      STORE/OFFICE (MIXED USE) • 6,400 SF
      10402 Roosevelt Ave, Flushing, NY 11368-2328
      View Details
    • Value Estimation by Request
      1,510 SF

      10014 Roosevelt Ave

      STORE/OFFICE (MIXED USE) • 1,510 SF
      10014 Roosevelt Ave, Flushing, NY 11368
      View Details
    • Value Estimation
      $4,775,000
      28,000 SF

      3801 112th St

      STORES & APARTMENTS • 28,000 SF
      3801 112th St, Flushing, NY 11368-1444
      View Details
    • Value Estimation
      $3,585,000
      15,421 SF

      10321 Northern Blvd

      STORES & APARTMENTS • 15,421 SF
      10321 Northern Blvd, Flushing, NY 11368-1136
      View Details

    Similar Nearby for Sale

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      2,016 SF

      Mixed-Use Building in Prime Corona

      Mixed-use building with retail and residential units in Corona.
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      View Details
    • $2,080,000
      5,000 SF

      Mixed-Use Property in Corona, NY

      Mixed-use property featuring four apartments and one commercial space.
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    • $3,280,000

      Mixed-Use Property in High-Demand Area

      Mixed-use property with residential and medical units near transportation.
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    • $6,995,000

      Two Mixed-Use Buildings, Corona

      Two mixed-use buildings in Corona, Queens, near transportation.
      99-31 Corona Ave, Flushing, NY 11368
      View Details
    • $1,649,000
      Pending

      Corona Mixed-Use Investment Opportunity

      Three-story building with commercial space and residential units for sale.
      59-38 Xenia St, Corona, NY 11368
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    • $2,680,000
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      Fully occupied mixed-use building near subway with strong income.
      37-84 103Rd St, Corona, NY 11368
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    Similar Nearby for Lease

    • $6,000 /Mo
      1,756 SF

      New Retail Space in Corona

      New construction retail space available for rent in Corona.
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    • $6,000 /Mo

      Commercial Space in Prime Location

      Commercial space for lease in Corona, NY, approximately 2,000 Sq. Ft.
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      View Details
    • $3,000 /Mo

      Spacious Three-Bedroom Apartment in Corona

      Comfortable 3-bedroom, 2-bathroom apartment in Corona, Queens, available now.
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      View Details
    • New
      $4,300 /Mo
      1,140 SF

      Prime Corner Retail Pharmacy Space

      Corner retail space with high visibility and traffic in Corona.
      140-01 Northern Boulevard, Corona, NY 11368
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    • $54 SF/Yr
      2,484 SF

      Elmhurst Medical Office Space

      Newly renovated, 2,484 sq ft, single tenant.
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      View Details
    • Contact for pricing
      2,900 SF

      Retail Space Near 7 Train

      Retail space with high foot traffic, near the 7 train.
      3747-3787 Junction Blvd, Corona, NY 11368
      View Details
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    9611 37th Ave
    Flushing, NY 11368-1765
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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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