Add Listing
    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

    24563 61St Ave Queens, NY 11362

    View on Map
    Loading data...
    Loading data...
    Loading data...
    Pending
    $1,968,000

    Spacious two-family home in desirable Little Neck neighborhood.

    Lot size:
    0.09 Acres

    Property Features for 24563 61St Ave

    General Information

    Property type
    Other
    Standard status
    Pending
    Lot size
    0.09 Acres

    Building Details

    Year built
    1950

    We can help!

    Listing Contact
    Chong G. You
    Source: Elliman

    Listing Agency: eXp Realty Listing Agent: Chong G. You

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Two-Family Home in Little Neck

    This oversized, all-brick two-family home is located in the desirable Little Neck neighborhood. Situated on an approximately 4,800 sq ft lot, the property features 2,757 sq ft of living space and is zoned R3X. The first floor offers 3 bedrooms and 2 full baths. The second floor includes 3 bedrooms and 1 full bath. The attic features a high ceiling, open space, and a full bath, and can be used as a study room or play room, and also has a large private terrace. The basement is fully finished with a separate entrance, a big space, 1 full bath, and a laundry room. The property includes an extra-wide driveway and a spacious backyard. The interiors are bright with an excellent layout and functionality. Located on a quiet, well-maintained residential block, the property is situated in Top-Rated District 26, near PS221 & MS67. It is also close to Douglaston Golf Course, supermarkets, major highways, and public transportation. The property is ideal for multi-generational living or high-income rental potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Queens
    County
    Queens
    State
    New York
    Longitude
    -73.7349
    Latitude
    40.7592

    Nearby Similar for Sale

    • $483,800
      415 SF

      Flushing Office Condo For Sale

      Professional office condo in central Flushing location.
      133 41St Rd, Flushing, NY 11355
      View Details
    • $1,900,000
      2,200 SF

      Flushing Commercial Condominium For Sale

      2200 Sqft commercial condominium in prime downtown Flushing location.
      38-34 Parsons Blvd, Flushing, NY 11354
      View Details
    • $859,000
      Pending

      Medical Office in Flushing, NY

      Doctor's office in medical building with parking included.
      136-25 Maple Ave, Flushing, NY 11355
      View Details
    • $399,000
      1,871 SF

      Community Facility Unit in Flushing

      Income-producing commercial property in a high-demand location.
      31-18 Union St, Flushing, NY 11354
      View Details
    • New
      $1,869,000
      1,611 SF

      Flushing Commercial Space For Sale

      Prime Skyview space in central Flushing, move-in ready condition.
      131-07 40Th Ave, Flushing, NY 11354
      View Details
    • $1,650,000
      4,620 SF

      Jamaica Commercial Building For Sale

      Four-unit commercial building near JFK and Motor Vehicle Department.
      148-11 175Th St, Jamaica, NY 11434
      View Details
    • $845,000
      1,600 SF

      Flushing Medical Condo For Sale

      1,600 SF medical condo in Downtown Flushing near transportation.
      133-47 Sanford Ave, Flushing, NY 11355
      View Details
    • New
      $190,000
      800 SF

      Flushing Commercial Coop Opportunity

      800 SF coop suitable for various uses in Flushing.
      141-05 Northern Boulevard, Flushing, NY 11354
      View Details
    • $749,000
      1,000 SF

      Retail Property in Jamaica, Queens

      Prime retail space with high visibility in a thriving commercial corridor.
      14703 Guy R Brewer Blvd, Jamaica, NY 11434
      View Details
    • $1,100,000
      1,381 SF

      Flushing Office Condo For Sale

      Adaptable office condo in new building, prime Flushing location.
      142-38 37Th Ave, Flushing, NY 11354
      View Details
    • New
      $30,000
      2.10 Acres

      Storefront on Kissena Boulevard, Flushing

      High-visibility storefront, ideal for cafe or fast-food concept.
      4125 Kissena Blvd, Flushing, NY 11355
      View Details
    • $371,000

      Flushing Retail Business For Sale

      Established nail supply business with exclusive wholesale rights.
      5904 Kissena Blvd, Flushing, NY 11355
      View Details

    FAQs

    What type of property is this?
    Duplex - Spacious two-family home in desirable Little Neck neighborhood.
    Where is this duplex located?
    The property is located at 24563 61St Ave Queens, NY.
    What is the asking price?
    The asking price for this property is $1,968,000.
    What are key features of this property?
    This property features: - Located in Top-Rated District 26 with Blue Ribbon schools (PS221 & MS67).; - Oversized, all-brick two-family home with 2,757 sq ft of living space on a 4,800 sq ft lot.; - High-income rental potential or perfect for multi-generational living.
    (646) 330-0286
    Request Owner's contact information
    24563 61St Ave Queens, NY 11362
    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.
    24563 61St Ave
    Queens, NY 11362
    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
    24563 61St Ave Queens, NY 11362
    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
    Chong G. You
    (646) 330-0286 (718) 886-7001 (888) 276-0630
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!