Maspeth Mixed-Use Investment
For Sale
Contact for pricing
55-19 Metropolitan Ave, Maspeth, NY 11385
Mixed-use property in Maspeth, Queens with diversified income streams.
Property Size3,922 SF
Lot Size0.06 Acres
Price / SF$411.78
Days on Market169
Property Features for 55-19 Metropolitan Ave
General Information
Standard status
Active
Size
3,922 SF
Class
B
Lot size
0.06 Acres
Property subtype
Mixed Use, Multifamily
Investment Type
Core+
Building Details
Year Renovated
2020
Buildings
1
Stories
3
Units
4
Listing Agency:
Reyes & Elsamad
Listed By:
Julio Reyes · License #10311207671
Source:
Crexi
Added: Feb 24
Changed: Aug 7
Last Checked: Aug 11 at 4:49PM
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 Reyes & Elsamad
Investment Insights
Based on property information with market context.
Located on the corner of 55th Street and Metropolitan Avenue in Maspeth, Queens, this mixed-use property offers an investment opportunity in a steadily growing submarket. The property features three residential units and one commercial unit, along with two private garage spaces. The building includes one 4-bedroom/1-bath unit and two 1-bedroom/1-bath units. The ground floor commercial unit provides 1,274 square feet of space. Situated on a 25’ x 100’ lot with R6B, C2-4 zoning, the property generates approximately $142,956 in current gross income with a projected pro-forma of $155,400. With approximately 1,075 square feet of unused FAR and commercial frontage on Metropolitan Avenue, the property offers both stable cash flow and long-term repositioning potential. Maspeth benefits from increasing residential demand, strong local retail corridors, and proximity to major highways and public transportation. This property is suitable for 1031 exchange buyers, mixed-use investors seeking stabilized income, owner-users looking to control their real estate, and long-term holders focused on Western Queens growth. The property size is 3,922 square feet.
Key Highlights
- Diversified income stream from three residential units and one commercial unit, plus two private garages.
- Located in Maspeth, Queens, a steadily growing and supply‑constrained submarket of Western Queens.
- Pro‑forma cap rate of 6.6% at the $1,700,000 asking price, with a projected pro‑forma income of $155,400.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$95,871
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.94%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,917,420
$1.9M
Cap Rate 7%
$1,369,586
$1.4M
Cap Rate 9%
$1,065,233
$1.1M
Market Conditions
NOI Build-Up for 3,922 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$181.2K $46.20/SF
− Vacancy
−$6.9K −$1.76/SF
EGI
$174.3K $44.44/SF
− OpEx
−$78.4K −$20.00/SF
NOI
$95.9K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,917,420
Cap Rate 7%
$1,369,586
Cap Rate 9%
$1,065,233
Alternative Uses
Best Use
Apartment 5plus
$1.37M
$1.20M – $1.60M
NOI $95,871 @ 7.0% cap · market cap 5.94%
Second Best
Retail
$1.00M
$875.1K – $1.17M
NOI $70,008 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$2.89M
$2.53M – $3.37M
NOI $202,394 @ 7.0% cap · market cap 12.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,440
Businesses Nearby
Explore this area
Business Placement
Demographics for 11385, NY
100,883
Population
40,175
Households
2.5
Avg Household Size
36
Median Age
34%
College-Educated
84%
High-School Grad
3.6 sq mi
ZIP Area
28,023
Density / Sq Mi
$87,365
Median Household Income
$47,335
Median Earnings
$1,959
Median Rent
$842,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property in Maspeth, Queens with diversified income streams.
Where is this mixed-use property located?
The property is located at 55-19 Metropolitan Ave Maspeth, NY.
What is the asking price?
The asking price for this property is $1,615,000.
What are key features of this property?
This property features: Diversified income stream from three residential units and one commercial unit, plus two private garages.; Located in Maspeth, Queens, a steadily growing and supply‑constrained submarket of Western Queens.; Pro‑forma cap rate of 6.6% at the $1,700,000 asking price, with a projected pro‑forma income of $155,400.
