Four-Story Flex
1957 49th Street, Astoria, NY 11105
For Sale
$7,495,000
A warehouse component, open upper-level work areas, and outdoor space support a varied commercial layout.
Property Size16,000 SF
Price / SF$468.44
Days on Market264
Property Features for 1957 49th Street
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Highway Access
Road Access
Warehouse & Industrial
Clear Height
Warehouse Space
Drive-In Doors
Power
Three-Phase Power
Sprinkler System
Additional Details
Property Use
Taxes and HOA fees
Annual Taxes
Amenities
Passenger Elevator
Video Intercom System
Building Details
Building Size
Buildings
Stories
Units
Listing Agency:
MAE Equities
(917) 771-7142
Listed By:
Erkan Eddie Aydag
(718) 841-9292
Source:
Adamstreetrealty
Added: Feb 20
Changed: Nov 10
Last Checked: Nov 10 at 7:50PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of MAE Equities
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This four-story flex property contains 16,000 SF, including a 5,000 SF warehouse and three upper floors of open loft-style space. The second and fourth floors each include 1,000 SF of outdoor area, for 2,000 SF total. Building features include an elevator, two stairways serving all floors, large windows, and a video intercom system. The warehouse has 14+ feet of ceiling clearance, a drive-in gate with 12-foot clearance, heating, and a full sprinkler system. The upper floors have central heating and cooling and are wired for phone and data service. Electrical service includes 800 AMP, 3 phase, along with four 200 AMP, 3 phase services for each floor.
The property has 50 feet of frontage on 49th Street in Astoria. It offers access to the Grand Central Parkway and the BQE, with LaGuardia Airport nearby and New York City and the boroughs a short distance away.
The property has 50 feet of frontage on 49th Street in Astoria. It offers access to the Grand Central Parkway and the BQE, with LaGuardia Airport nearby and New York City and the boroughs a short distance away.
Key Highlights
- 16,000 SF across four floors, including 5,000 SF of warehouse space
- 50 feet of frontage on 49th Street in Astoria
- 2,000 SF of outdoor space across the second and fourth floors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$253,968
Cap Rate
3.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,079,360
$5.1M
Cap Rate 7%
$3,628,114
$3.6M
Cap Rate 9%
$2,821,867
$2.8M
Market Conditions
NOI Build-Up for 16,000 SF
Gross rent
$422.4K $26.40/SF
− Vacancy
−$31.7K −$1.98/SF
EGI
$390.7K $24.42/SF
− OpEx
−$136.8K −$8.55/SF
NOI
$254.0K $15.87/SF
Area
Queens County, NY
Vacancy
7.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,079,360
Cap Rate 7%
$3,628,114
Cap Rate 9%
$2,821,867
Alternative Uses
Best Use
Flex RnD
$3.63M
$3.17M – $4.23M
NOI $253,968 @ 7.0% cap · market cap 3.39%
Second Best
Warehouse
$1.75M
$1.53M – $2.04M
NOI $122,224 @ 7.0% cap · market cap 1.63%
Theoretical Best
Office A
$11.80M
$10.32M – $13.76M
NOI $825,677 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
14 ft
Clear height
1
Drive-in doors
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,671
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11105, NY
38,001
Population
17,518
Households
2.2
Avg Household Size
37
Median Age
55%
College-Educated
91%
High-School Grad
1.6 sq mi
ZIP Area
23,751
Density / Sq Mi
$100,306
Median Household Income
$62,464
Median Earnings
$2,211
Median Rent
$1,089,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Flex space in Queens County
Vacancy Rate% for Industrial in Northeast region
Similar Off Market Nearby
- Food by Lovie — 2595 45th St #10, Astoria, NY 11103
- Mauzone Catering By Celebration — 2636 Borough Pl, Woodside, NY 11377
- Mauzone Kosher Products — 2636 Borough Pl, Woodside, NY 11377
- Wok Box — 24-26 47th St, Queens, NY 11103
- Ditmars Catering Inc — 3612 ditmars blvd, astoria, ny 11105
Frequently Asked Questions
What type of property is this?
Flex space - A warehouse component, open upper-level work areas, and outdoor space support a varied commercial layout.
Where is this flex space located?
The property is located at 1957 49th Street Astoria, NY.
What is the asking price?
The asking price for this property is $7,495,000.
What are key features of this property?
This property features: 16,000 SF across four floors, including 5,000 SF of warehouse space; 50 feet of frontage on 49th Street in Astoria; 2,000 SF of outdoor space across the second and fourth floors
