Mixed-Use Property with Garage
For Sale
$1,799,999
6042 55th Street, Maspeth, NY 11378
Ground-floor commercial space includes an existing hood and gas line.
Property Size2,800 SF
Days on Market132
Property Features for 6042 55th Street
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Commercial
Zoning
R4
Taxes and HOA fees
Annual Taxes
$6,236
Building Details
Building Size
2,800 SF
Year Built
1920
Units
3
Tenancy
Multi
Listing Agency:
Loyaltty Inc
(929) 337-0276
Listed By:
Royer I. Silva
(929) 337-0276
Source:
Cornerstonemyhome
Added: Apr 22
Changed: Aug 28
Last Checked: Aug 28 at 11:30AM
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 Loyaltty Inc
Investment Insights
Based on property information with market context.
Built in 1920, this mixed-use property combines a vacant commercial space at street level with two residential units above. The commercial area has an existing hood and gas line, while the residential units are occupied on a month-to-month basis. Garage spaces provide an additional income component.
Recent capital improvements include a newly installed roof that remains under warranty and a boiler less than one year old. The property is located in Maspeth with access to major transportation routes, and the commercial vacancy offers flexibility for a future occupant subject to verification and required approvals.
Recent capital improvements include a newly installed roof that remains under warranty and a boiler less than one year old. The property is located in Maspeth with access to major transportation routes, and the commercial vacancy offers flexibility for a future occupant subject to verification and required approvals.
Key Highlights
- Mixed‑use building with vacant ground‑floor commercial space
- Two residential units occupied on a month‑to‑month basis
- Existing hood and gas line in the commercial space
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
$68,444
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
3.80%
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%
$1,368,880
$1.4M
Cap Rate 7%
$977,771
$977.8K
Cap Rate 9%
$760,489
$760.5K
Market Conditions
NOI Build-Up for 2,800 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
$129.4K $46.20/SF
− Vacancy
−$4.9K −$1.76/SF
EGI
$124.4K $44.44/SF
− OpEx
−$56.0K −$20.00/SF
NOI
$68.4K $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%
$1,368,880
Cap Rate 7%
$977,771
Cap Rate 9%
$760,489
Alternative Uses
Best Use
Apartment 5plus
$977.8K
$855.6K – $1.14M
NOI $68,444 @ 7.0% cap · market cap 3.80%
Second Best
Retail
$714.0K
$624.8K – $833.0K
NOI $49,980 @ 7.0% cap · market cap 2.78%
Theoretical Best
Office A
$2.06M
$1.81M – $2.41M
NOI $144,493 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,766
Businesses Nearby
Explore this area
Business Placement
Demographics for 11378, NY
38,288
Population
14,522
Households
2.6
Avg Household Size
40
Median Age
26%
College-Educated
83%
High-School Grad
2.4 sq mi
ZIP Area
15,953
Density / Sq Mi
$84,762
Median Household Income
$52,281
Median Earnings
$1,932
Median Rent
$832,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor commercial space includes an existing hood and gas line.
Where is this mixed-use property located?
The property is located at 6042 55th Street Maspeth, NY.
What is the asking price?
The asking price for this property is $1,799,999.
What are key features of this property?
This property features: Mixed‑use building with vacant ground‑floor commercial space; Two residential units occupied on a month‑to‑month basis; Existing hood and gas line in the commercial space
