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    97-77 Queens Blvd Rego Park, NY 11374
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    Property profile & analytics

    97-77 Queens Blvd Rego Park, NY 11374

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    • Banks
    • 307,297 SF
    • 0.80 lot acres
    For Lease
    View Listing →
    Rego Park Office Space For Lease
    Contact for pricing
    29,991 SF

    Rego Park Office Space

    Office space available for lease in Rego Park, NY.

    97-77 Queens Boulevard, Rego Park, NY 11374
    View Listing
    Property ID
    US63-1853769
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Queens Legal Services For-Elderly / Social Service Agency / Charitable Organization
    • Jacqueline Forman / Physician
    • Jasa Jewish Association For Services / Social Service Agency / Charitable Organization
    • Thera Care of NY / Charitable Organization / Social Service Agency
    • Lefrak Organization Inc / Advertising Agency / Marketing & Advertising

    Property Details for 97-77 Queens Blvd

    Year built
    1964
    Lot size
    0.80 lot acres
    Property size
    307,297 SF
    Zone code
    C4-2
    Property type
    Banks
    APN
    02092-0001
    APU
    20920001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Flushing
    County
    Queens
    State
    New York
    Longitude
    -73.8584
    Latitude
    40.7292
    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
    $1,907,752
    $2,355,750
    $15,655,500
    $18,011,250
    -
    $5,235,000
    $34,790,000
    $40,025,000

    Comparable in this City

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      357,760 SF

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      FINANCIAL BUILDING • 357,760 SF
      9525 Queens Blvd, Flushing, NY 11374-4510
      View Details
    • Value Estimation by Request
      9,999,999 SF

      6101 Jct Blvd Lowr

      RETAIL STORES (PERSONAL SERVICES) • 9,999,999 SF
      6101 Jct Blvd Lowr, Flushing, NY 11374-2756
      View Details
    • Value Estimation by Request
      797 SF

      9229 Queens Blvd Ste Cu7

      RETAIL STORES (PERSONAL SERVICES) • 797 SF
      9229 Queens Blvd Ste Cu7, Flushing, NY 11374-1045
      View Details
    • Value Estimation
      $1,835,000
      9,548 SF

      6535 Woodhaven Blvd

      RETAIL STORES (PERSONAL SERVICES) • 9,548 SF
      6535 Woodhaven Blvd, Flushing, NY 11374-5047
      View Details
    • Value Estimation
      $1,495,000
      8,350 SF

      6347 Booth St Ste 2a

      RETAIL STORES (PERSONAL SERVICES) • 8,350 SF
      6347 Booth St Ste 2a, Flushing, NY 11374-2023
      View Details
    • Value Estimation by Request
      2,241 SF

      6296 Woodhaven Blvd, Unit S4

      RETAIL STORES (PERSONAL SERVICES) • 2,241 SF
      6296 Woodhaven Blvd, Flushing, NY 11374-3738
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Open-air shopping center space available for lease.
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      64,383 SF

      Mixed-Use Building in Rego Park

      Fully leased mixed-use building with hotel and retail components.
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    • $3,000,000
      0.09 Acres

      Established Tire Shop in Rego

      Profitable tire shop in a prime Rego Park location.
      8924 Metropolitan Ave, Rego Park, NY 11374
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    Similar Nearby for Lease

    • Contact for pricing

      63-34 Austin St, Queens, NY 11374

      Flex space
      63-34 Austin St, Queens, NY 11374
      View Details
    • $3,200 /Mo
      25,470 SF

      Prime Retail Space on Queens

      High-visibility commercial space in Rego Park near Queens Center.
      9229 Queens Blvd, Rego Park, NY 11374
      View Details
    • Contact for pricing
      29,991 SF

      Rego Park Office Space

      Office space available for lease in Rego Park, NY.
      97-77 Queens Blvd, Rego Park, NY 11374
      View Details
    • Contact for pricing
      2,150 SF

      Rego Park Office Space Available

      2,150 SF office space with new renovations for rent.
      8918 63Rd Dr, Rego Park, NY 11374
      View Details
    View Listing
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    Rego Park, NY 11374
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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.

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