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Property profile & analytics
OFF-MARKET
Estimated value
$3,160,000
Office buildings
9805 217th St, Jamaica, NY 11429-1234
Entity Owned
3-yr Hold
Free & Clear
Property ID
US63-1216429
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1946
Total area
10,577 SF
Lot
0.48 ac (21,000 SF)
Zoning code
M1-1
APN
10763-0001
UPID
US63-1216429
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
-
Ignelzi Interiors Inc General Contractor Renovation Specialist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.99M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.16M
Owner & transaction history
217-20 98th Ave-255, LLC · 3 yrs held
217-20 98th Ave-255, LLC
since 2022
Last sale
$3.3M
2 recorded transactions
Zoning & alternative use
M1-1 · Jamaica, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$5.1M
+29.7%
Warehouse, storage
$4.7M
+20.5%
Retail stores
$4.6M
+16.3%
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
$3,100,000
ML approach
$2,985,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,915,000
Current use
INDUSTRIAL (GENERAL)
$5,075,000
Change: +30% · Conversion: Difficult
WAREHOUSE, STORAGE
$4,715,000
Change: +20% · Conversion: Difficult
RETAIL STORES
$4,550,000
Change: +16% · Conversion: Moderate
COMMERCIAL (GENERAL)
$3,295,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$3.16M
Range $2.84M – $3.48M · ±10% · vs last sale $3.28M (Aug 2 2021)
Last sale anchor
$3.28M
Aug 2 2021
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
$299 / 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
$94,761
Tax year 2024
Assessed value
$907,200
Assessed 2024
Previous assessed
$557,635
+62.7% YoY
Effective rate
10.45%
On assessed value
Assessed land
$116,100
Assessed improvement
$791,100
Land market value
$258,000
Improvement market value
$1,758,000
Total market value
$2,016,000
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1946
Heating
NONE
Buildings
1
Stories
1
Units
1
Total area
10,577 SF
Lot
0.48 ac (21,000 SF)
Zoning code
M1-1
APN
10763-0001
UPID
US63-1216429
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M1-1 · Jamaica, NY
Zoning M1-1 · permitted uses
M1-1 · 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
OFFICE BUILDING Current
Est. value
$3.9M
INDUSTRIAL (GENERAL)
Est. value
$5.1M
WAREHOUSE, STORAGE
Est. value
$4.7M
RETAIL STORES
Est. value
$4.6M
COMMERCIAL (GENERAL)
Est. value
$3.3M
OFFICE BUILDING Current
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
RETAIL STORES
COMMERCIAL (GENERAL)
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
1946
Heating
NONE
Stories
1
Buildings
1
Units
1
Lot
0.48 ac
Current owner
From public records · entity-resolved
217-20 98th Ave-255, LLC
Entity
Free & Clear · 3 yrs held
Mailing address
21399 99TH AVE, QUEENS VILLAGE, NY 11429-1134
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 27, 2022
—
217-20 98th Ave-255, LLC
Newmont Realty Corp
Correction Deed
related
—
Aug 2, 2021
$3,275,000
217-20 98th Ave-255, LLC
Newmont Realty Corp.
Deed
—
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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