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    42-60 Crescent St Queens, NY 11101

    Sponsored
    For Sale
    Contact for pricing

    Prime Queens location, high NOI, 10-year lease.

    Property size:
    1,317 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional retail condominium, located at 42-60 Crescent Street in Queens, New York (zip code 11101), presents a compelling investment opportunity. The property boasts 1,317 square feet of space and is zoned M1-5/R7-3. Currently operating as a fully built-out restaurant, the space includes a fully equipped and vented kitchen, making it ideal for a variety of food service businesses. A significant advantage is the existing 10-year lease, providing strong, predictable income. The property's Net Operating Income (NOI) is a substantial $194,587.04, demonstrating its strong financial performance. The property's address is 42-60 Crescent Street, Queens, Queens County, New York, with the APN 00429-7501. The location offers excellent visibility and accessibility, contributing to the property's high earning potential. This turnkey operation, with its established tenant and long-term lease, represents a low-risk, high-reward investment opportunity in a thriving Queens neighborhood. The previous tenant operated a successful brunch and souffle pancake restaurant ("Softbite"). This fully equipped and vented kitchen is ready for immediate use. This is a rare chance to acquire a stable, income-generating property in a desirable location.

    Property Features for 42-60 Crescent St

    General Information

    Property type
    Retail properties
    Square Feet
    1,317 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Crescent Hills Cleaners Dry Cleaner Factory House Condominium Complex Softbite | Soufflé Pancakes Cafe Chercher Floral Florist

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Queens
    County
    Queens
    State
    New York
    Longitude
    -73.9420836
    Latitude
    40.749177

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    FAQs

    What type of property is this?
    Retail property - Prime Queens location, high NOI, 10-year lease.
    Where is this retail property located?
    The property is located at 42-60 Crescent St Queens, NY.
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    42-60 Crescent St Queens, NY 11101
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    Queens, NY 11101
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    Realmo Value Estimation

    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.

    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.

    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
    42-60 Crescent St Queens, NY 11101
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