Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    58 St Queens, NY 11377

    • Restaurants
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 0 58 St

    Property type
    Restaurants
    Property subtype
    Commercial kitchens

    Description

    This exceptional Queens catering hall presents a unique investment opportunity. Located at 58th St, near Maspeth Ave in Queens County, New York (zip code 11377), this single-tenant property boasts over 10,000 square feet of space. The current tenant operates a thriving restaurant with a capacity exceeding 500 guests, making it ideal for large-scale events and catering services. The property is offered at a significantly reduced price of $1,285,000. A key advantage is the low monthly rent of $14,000, which includes real estate taxes, providing a strong cash flow potential for the investor. The lease has over 20 years remaining, offering long-term stability and predictable income. This well-established business enjoys a prime location in Queens, benefiting from high visibility and easy access. The property's substantial size and established clientele make it an attractive proposition for discerning investors seeking a stable and profitable venture in the vibrant New York City restaurant market. The property is classified as a restaurant with a catering subtype. This is a single-tenant occupancy. The property's latitude and longitude coordinates are 40.7432194 and -73.9071687 respectively.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Queens
    County
    Queens
    State
    New York
    Longitude
    -73.9072
    Latitude
    40.7432

    Comparable in this City

    • Value Estimation by Request

      39-10 63 St

      Restaurants
      39-10 63 St, Queens, NY 11377
      View Details
    • Value Estimation by Request
      500 SF

      47-12 44Th St

      Restaurants • 500 SF
      47-12 44Th St, Woodside, NY 11377
      View Details
    • Value Estimation
      $21,255,000
      4,022 SF

      6801 Northern Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,022 SF
      6801 Northern Blvd, Flushing, NY 11377
      View Details
    • Value Estimation by Request
      3,531 SF

      5001 Queens Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,531 SF
      5001 Queens Blvd, Flushing, NY 11377-4452
      View Details
    • Value Estimation by Request
      2,400 SF

      5717 Queens Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,400 SF
      5717 Queens Blvd, Flushing, NY 11377-4742
      View Details
    • Value Estimation by Request
      2,355 SF

      6012 Northern Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,355 SF
      6012 Northern Blvd, Flushing, NY 11377-2227
      View Details

    Similar Nearby for Sale

    • $2,850,000
      3,855 SF

      Prime Retail Condos in Woodside

      Two retail condos in a high-demand Queens corridor.
      43-20 52Nd St, Woodside, NY 11377
      View Details
    • $250,000

      Equipped Restaurant in Busy Location

      Fully equipped restaurant with separate service entrance in Queens.
      4761 47Th St, Queens, NY 11377
      View Details
    • $1,399,000

      Mixed-Use Building in Woodside, Queens

      Mixed-use building with commercial space and residential apartment in Woodside.
      49-04 69Th St, Flushing, NY 11377
      View Details
    • $250,000

      Turnkey Restaurant Opportunity in Woodside

      Fully equipped restaurant with separate service entrance in busy Woodside.
      4761 47Th St, Woodside, NY 11377
      View Details
    • New
      $200,000

      Established Japanese Ramen Restaurant

      Turnkey Japanese ramen restaurant in a high-traffic commercial area.
      63-28 Roosevelt Ave, Woodside, NY 11377
      View Details
    • $2,660,000

      Established Auto Repair Shop Business

      Commercial building with auto repair business for sale in Woodside.
      49-04 25Th Ave, Queens, NY 11377
      View Details

    Similar Nearby for Lease

    • $4,200 /Mo
      8,999 SF

      Woodside Retail Space For Rent

      Ground-floor retail in residential area, ideal for local businesses.
      43-25 52Nd St, Woodside, NY 11377
      View Details
    • Contact for pricing
      7,950 SF

      Woodside Retail Space Available

      Retail space available for lease in Woodside, NY.
      5406-5422 31St Ave, Woodside, NY 11377
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space in New Development

      Retail space available in new building with high visibility.
      7201-7225 Queens Blvd, Elmhurst, NY 11377
      View Details
    • $8,000 /Mo
      3,872 SF

      Woodside Commercial Space Available Now

      2500 SF commercial space suitable for any business.
      43-30 52Nd St, Woodside, NY 11377
      View Details
    • $39,000

      Equipped Auto Repair Facility

      Move-in ready 14,000 SF auto repair facility for rent.
      3320 55Th St, Flushing, NY 11377
      View Details
    • $4,000 /Mo
      1,200 SF

      Renovated Retail Space Near Subway

      Recently renovated 1,200 SF retail space with high visibility.
      65-27 Roosevelt Ave, Woodside, NY 11377
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    58 St
    Queens, NY 11377
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!