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    56-30 61St St Maspeth, NY 11378

    For Sale
    $2,500,000

    Five-Unit Multifamily, Prime Location

    Property size:
    2,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional investment opportunity presents a fully renovated corner brick retail building situated in the vibrant heart of Maspeth, Queens. Boasting 2,500 square feet, this property offers immediate cash flow with a strong income stream generated by five residential units. The building, constructed in 1915, sits on a 0.06-acre lot and currently comprises four 2-bedroom apartments and one 4-bedroom apartment. Monthly rental income is substantial, with rents ranging from $2,941 to $4,200 per month. Approved plans are in place to develop additional parking spaces in the rear yard, providing a significant opportunity to further enhance income potential. This presents a unique chance to acquire a well-maintained, income-producing asset in a desirable location. The property is priced at $2,500,000 and offers a compelling return on investment. Note that this property can be purchased as part of a larger package deal that includes a neighboring property at 60-41 56th Rd. This turnkey investment is ready for immediate ownership and offers a rare chance to capitalize on the thriving Maspeth market. The address is 56-30 61st Street, Maspeth, NY 11378.

    Property Features for 56-30 61St St

    General Information

    Property type
    Retail properties
    Square Feet
    2,500 SF
    Lot Size
    2,614 SF

    Building Details

    Year Built
    1915
    Units
    5

    HighLights

    • $2,500,000 asking price.
    • 2,500 square foot retail property.
    • Five units.
    • Built in 1915.
    • 0.06‑acre lot in Maspeth, Queens, NY.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Maspeth
    County
    Queens
    State
    New York
    Longitude
    -73.9046331
    Latitude
    40.7242849

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    FAQs

    What type of property is this?
    Retail property - Five-Unit Multifamily, Prime Location
    Where is this retail property located?
    The property is located at 56-30 61St St Maspeth, NY.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: $2,500,000 asking price.; 2,500 square foot retail property.; Five units.
    Request Owner's contact information
    56-30 61St St Maspeth, NY 11378
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    Maspeth, NY 11378
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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
    56-30 61St St Maspeth, NY 11378
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