Entity Owned 
For Lease
$2,665,000
996 Cypress Ave, Ridgewood, NY 11385
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Property summary
AI-generated overview
Located at 996 Cypress Avenue in Ridgewood, Queens, this mixed-use property is a four-story walk-up building constructed in 1927. It contains 15 residential units and 2 commercial spaces, for a total of 17 units, within 15,744 square feet of building area. The building sits on a corner lot at the intersection of Cypress Avenue and George Street and is positioned 0.1 miles from the L train at Jefferson Street, offering commuter access to Manhattan and Brooklyn. The lot size is 0.1699 acres. Zoning is M1-4D.
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1927
Total area
15,744 SF
Lot
0.12 ac (5,222 SF)
Zoning code
M1-4D
APN
03551-0063
UPID
US63-2849819
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.12M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.67M
Owner & transaction history
since 1998
7 recorded transactions
Zoning & alternative use
M1-4D · Flushing, NY
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.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 25 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$2.67M
Value range
$2.40M – $2.93M
±10% around blend
Estimated value / SF
$169 / SF
Confidence
High
25 county-verified comps
Property data
100
Market benchmarks
100
Comparable evidence
100
$2.40M
blend $2.67M
$2.93M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
15,744 SF
Lot area
0.12 ac
Year built
1927
Stories
4
APN
03551-0063
Zoning
M1-4D
Assessed value
$816,300
Annual tax
$90,274
3
Income approach: direct capitalization
Partial preview
Income approach indication
$3.12M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$3.38M
@ 6.5% CAP return
$3.12M
@ 7% CAP return
$2.90M
4
Sales comparison
Partial preview
Sales approach indication
$11.52M
Weighted, 20 comps · high confidence
Evidence
25 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
3.7 mi away · 19,750 SF
4.1 mi away · 15,650 SF
4.5 mi away · 12,076 SF
4.6 mi away · 11,310 SF
4.7 mi away · 12,250 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$2.67M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 150 sales
$360
-53%
Submarket 1035 sales
$450
-62%
County 1912 sales
$386
-56%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $169/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
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.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 25 sales
Market rates by use type
PDF export
Professional Plan · 30 reports
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$816k
Move the market yield to see immediate price impact.
Value / SF
$52
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
5.00%7.00%9.00%
$51k
$1.03M
$735k
$571k
$57k
$1.14M
$816k
$635k
$63k
$1.26M
$898k
$698k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
25 found
High confidence · county-verified
Closest comparable
$6.65M
3.6 mi · Dec 2025 · $410/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$90,274
Tax year 2024
Assessed value
$816,300
Assessed 2024
Previous assessed
$697,570
+17.0% YoY
Effective rate
11.06%
On assessed value
Assessed land
$117,450
Assessed improvement
$698,850
Land market value
$261,000
Improvement market value
$1,553,000
Total market value
$1,814,000
Applied tax rate
2.0000
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 residential properties
Use group
STORES & APARTMENTS
Status
For Lease
Year built
1927
Heating
NONE
Buildings
1
Stories
4
Units
16
Total area
15,744 SF
Lot
0.12 ac (5,222 SF)
Zoning code
M1-4D
APN
03551-0063
UPID
US63-2849819
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M1-4D · Flushing, NYZoning M1-4D · permitted uses
M1-4D · Flushing, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1927
Heating
NONE
Stories
4
Buildings
1
Units
16
Lot
0.12 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
M1-4D
Jurisdiction
Flushing, NY
Recorded code
M1-4D
Ownership Intelligence
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Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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