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    72-17 Grand Ave, Unit BLDG New York City, NY 11378

    Sponsored
    For Sale
    $2,995,000

    MULTI_FAMILY - Other - New York City, NY

    Property size:
    6,854 SF
    Lot size:
    0.07 Acres
    Days on Market:
    1
    Last Refresh:
    Feb 7 at 4:06 pm

    Property Features for 72-17 Grand Ave

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Rooms
    Bathroom 3, Bedroom 1, Bathroom 4, Bathroom 1, Bathroom 2, Bedroom 2
    Bedrooms
    2
    Bathrooms
    4
    Pets allowed
    Yes
    Size
    6,854 SF
    Lot size
    0.07 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Multi Units

    Building Details

    Year built
    1901
    Number of units
    4
    Architectural style
    Other

    We can help!

    Listing Contact
    Jason Larusso

    Brick & Mortar LLC (718) 599-0869

    Listing agent Jason Larusso (646) 373-1666

    Listing date Feb 7, 2026

    MLS# RSFT-110000000344

    Copyright © 2026 RESoft, LLC. 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

    Development Opportunity in Maspeth, Queens

    This is a development opportunity in Maspeth, Queens, situated on high-traffic Grand Avenue. The sale includes a two-story building at 72-17 Grand Avenue and an adjacent corner lot at 72-19 Grand Avenue. The property at 72-19 Grand Avenue features two independent storefronts, two apartments above, and a fully finished basement. The corner lot at 72-19 Grand Avenue is an oversized, L-shaped lot of 3,154 square feet with a poured concrete foundation built to the corner of the block. A variance is in place so that a new building will not require a setback, as the foundation is already in place. The 72-19 Grand Avenue property sits on a 3,154 square foot lot with a Floor Area Ratio (FAR) of 2 in an R6 zone, allowing for as-of-right construction of 6,308 square feet. The 72-17 Grand Avenue property sits on a 2,800 square foot lot, also with an FAR of 2 and R6 zoning, permitting as-of-right construction of 5,600 square feet. The combined actual buildable area is 11,908 square feet. Renderings show the type of building that can be constructed. A potential investment strategy involves commercial storefronts at street level with condos or rental units above. The upper floors of a new building would offer panoramic views of the Manhattan skyline due to the property's location on a ridge in Maspeth.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    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.

    Location Insight

    • Map
    • Local Demand
    City
    New York City
    County
    New York
    State
    New York
    Longitude
    -73.89112854
    Latitude
    40.72872162

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    FAQs

    What type of property is this?
    Mixed-use property - Buildable lot on high traffic Grand Avenue.
    Where is this mixed-use property located?
    The property is located at 72-17 Grand Ave, Unit BLDG New York City, NY.
    What is the asking price?
    The asking price for this property is $2,995,000.
    What are key features of this property?
    This property features: - 12,000 sq ft buildable development opportunity on high-traffic Grand Avenue.; - Includes two properties: a 2-story building and an adjacent corner lot.; - Oversized corner lot (3,154 sq ft) with poured concrete foundation already in place, built to the corner of the block.
    (646) 373-1666
    Request Owner's contact information
    72-17 Grand Ave, Unit BLDG New York City, NY 11378
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    New York City, NY 11378
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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
    72-17 Grand Ave, Unit BLDG New York City, NY 11378
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    We can help!
    Listing Contact
    Jason Larusso
    (646) 373-1666
    Learn more
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