Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    59-49 56Th Dr Maspeth, NY 11378

    Sponsored
    For Sale
    $2,100,000

    MULTI_FAMILY - Maspeth, NY

    Lot size:
    0.14 Acres
    Days on Market:
    6
    Last Refresh:
    Feb 19 at 6:06 pm

    Property Features for 59-49 56Th Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    M1-1
    Rooms
    Basement
    APN
    02690-0110
    Parking features
    Garage
    Basement
    Full, Finished
    Lot size
    0.14 Acres

    Utilities

    Utilities
    Natural Gas Available
    Sewer type
    Public Sewer
    Cooling system
    Electric
    Water source
    Public

    Building Details

    Year built
    1922
    Number of units
    7
    Building materials
    Brick

    We can help!

    Listing Contact
    Cecilia Yllescas

    WINZONE REALTY INC. (718) 899-7000

    Listing agent Cecilia Yllescas

    Listing date Feb 14, 2026

    MLS# 961600

    Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Maspeth Multi-Family Brick House

    This property features a seven-dwelling brick house with a full finished basement that includes a laundry room, boiler room, and storage. The first floor contains a three-bedroom apartment and two one-bedroom apartments, while the second floor has four one-bedroom apartments. Situated on a 63x100 lot, the property includes separate boilers and two large commercial garages. The full finished basement offers additional income potential with a coin laundry machine, office, and storage space. Zoned M1-1, the property is located close to Grand Avenue, Maurice Avenue, and the Long Island Expressway.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Warehouses

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    WeScan USA, Nfd Logistic Center, Kidd Solutions, Maspeth Business Park, Publishers Circulation Fulfillment, Inc.

    Location Insight

    • Map
    • Local Demand
    City
    Maspeth
    County
    Queens
    State
    New York
    Longitude
    -73.904203
    Latitude
    40.723562

    Nearby Similar for Sale

    • $1,575,000
      0.06 Acres

      Maspeth Multifamily Pre-War Property

      Four-family, semi-detached property near transportation, delivered vacant.
      60-64 54Th Pl, Maspeth, NY 11378
      View Details
    • $1,499,000
      Pending

      Maspeth Multifamily Property For Sale

      Two-family brick building with conversion potential in a family-friendly neighborhood.
      5974 Fresh Pond Rd, Maspeth, NY 11378
      View Details
    • $1,350,000
      Pending

      Maspeth Duplex with Private Driveway

      Semi-detached duplex in prime Maspeth location with modern amenities.
      56-36 Remsen Pl, Maspeth, NY 11378
      View Details
    • New
      $1,498,000
      Pending

      Maspeth Multifamily Home with Extra Lot

      Two-family home with a five-car garage and expansion potential.
      61-22 56Th Dr, Maspeth, NY 11378
      View Details
    • $979,000
      Pending

      Maspeth Duplex with Garage

      Two-family house in Maspeth featuring five bedrooms and three baths.
      62-31 60Th Rd, Maspeth, NY 11378
      View Details
    • New
      $1,550,000
      0.05 Acres

      Maspeth Two-Family Brick Home

      Custom-built, two-family home near Juniper Valley Park.
      70-13 Caldwell Ave, Maspeth, NY 11378
      View Details
    • $1,348,000
      Pending

      Renovated Two-Family Home, Maspeth

      Luxurious, fully detached, renovated two-family home in Maspeth.
      57-16 66Th St, Maspeth, NY 11378
      View Details
    • $1,100,000
      Pending

      Renovated Two-Family Home in Maspeth

      Meticulously renovated two-family home with modern upgrades and prime location.
      71-26 58Th Ave, Maspeth, NY 11378
      View Details
    • New
      $1,100,000
      2,380 SF

      Maspeth Two-Family Residence

      Well-maintained two-family home in Maspeth, Queens with investment potential.
      58-29 60Th Ln, Maspeth, NY 11378
      View Details
    • $1,149,000
      Pending

      Maspeth Two-Family Home For Sale

      Two-family home in prime Maspeth location, close to transportation.
      6167 56Th St, Maspeth, NY 11378
      View Details
    • $1,150,000
      2,000 SF

      Turnkey Triplex in Maspeth, NY

      Three-family property with immediate cash flow and long-term upside.
      60-85 54Th St, Maspeth, NY 11378
      View Details
    • New
      $1,699,000
      0.06 Acres

      Maspeth Three-Family Home with Updates

      Fully occupied, renovated three-family home with modern amenities and income potential.
      6089 54Th St, Maspeth, NY 11378
      View Details

    FAQs

    What type of property is this?
    Warehouse - Seven-dwelling brick house with commercial garages and finished basement.
    Where is this warehouse located?
    The property is located at 59-49 56Th Dr Maspeth, NY.
    What is the asking price?
    The asking price for this property is $2,100,000.
    What are key features of this property?
    This property features: - Seven dwelling units (3BR, six 1BR apartments) for substantial rental income.; - Two large commercial garages offer significant income potential.; - Full finished basement with laundry coin machine, office, and storage provides extra income opportunities.
    (718) 592-2356
    Request Owner's contact information
    59-49 56Th Dr Maspeth, NY 11378
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    59-49 56Th Dr
    Maspeth, NY 11378
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    59-49 56Th Dr Maspeth, NY 11378
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Cecilia Yllescas
    (718) 592-2356 (347) 665-2102
    Learn more
    Google sign-in failed. Please try again or use another login method.