Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    48-05 Metropolitan Ave Queens, NY 11385
    Back to Search
    Property profile & analytics

    48-05 Metropolitan Ave, Queens, NY 11385

    View on Map
    • Retail properties & Spaces
    • 10,755 SF
    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 48-05 Metropolitan Ave

    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    This exceptional 10,755 square foot commercial property, located at 48-05 Metropolitan Avenue in Queens, NY, presents a unique opportunity for businesses seeking flexible and expansive space. The property boasts a versatile layout suitable for executive office space or flexible industrial use, encompassing a total of 10,755 square feet currently available for lease. Situated on a generous 3.3-acre lot, the building features a substantial 16-foot ceiling height, providing ample room for various configurations and operations. The property is classified as Retail, Office, and Industrial, offering significant adaptability to a wide range of business needs. Three parking spaces are available on-site, and the building is equipped with elevators for convenient access to all levels. The property is located in Queens County, New York, with easy access to major transportation routes (specific details not provided). The entire building is currently vacant, offering a blank canvas for a new tenant to customize the space to their exact specifications. This is an ideal location for businesses seeking a large, versatile space in a prime Queens location. The zip code is 11385. The property is offered as a multiple tenancy space.

    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
    -73.918
    Latitude
    40.7139

    Comparable in this City

    • Value Estimation by Request

      17-17 Troutman St

      Refrigerated & Cold Storage
      17-17 Troutman St, Queens, NY 11385
      View Details
    • Value Estimation by Request
      138,204 SF

      350 St Nicholas Ave

      Restaurants
      350 St Nicholas Ave, Queens, NY 11385
      View Details
    • Value Estimation by Request

      67-05 Fresh Pond Rd

      Coworking space
      67-05 Fresh Pond Rd, Queens, NY 11385
      View Details
    • Value Estimation by Request
      1,500 SF

      69-06 Myrtle Ave

      Restaurants
      69-06 Myrtle Ave, Queens, NY 11385
      View Details
    • Value Estimation by Request

      176 Woodward Ave

      Restaurants
      176 Woodward Ave, Queens, NY 11385
      View Details
    • Value Estimation by Request

      58-25 Myrtle Ave

      Office Spaces
      58-25 Myrtle Ave, Queens, NY 11385
      View Details

    Similar Nearby for Sale

    • $8,500,000
      18,313 SF

      Glendale Commercial Property with Yard

      18,313 SF commercial building with warehouse and yard.
      88-81 76Th Ave, Glendale, NY 11385
      View Details
    • $1,650,000
      Pending

      Mixed-Use Property in Queens

      Mixed-use property featuring a restaurant, bakery, and residential units.
      55-01 Metropolitan Ave, Queens, NY 11385
      View Details
    • Contact for pricing
      2,880 SF

      Mixed-Use Property with Development Potential

      Mixed-use property featuring garage, office space, and development potential.
      20-17 Grove St, Ridgewood, NY 11385
      View Details
    • Contact for pricing
      4,400 SF

      Ridgewood Mixed-Use Investment Opportunity

      Two-story mixed-use building in prime Ridgewood location.
      64-29 Myrtle Ave, Queens, NY 11385
      View Details
    • $2,650,000
      1,500 SF

      Ridgewood Mixed-Use Investment Opportunity

      Mixed-use property in Ridgewood with income and upside potential.
      351 Onderdonk Ave, Ridgewood, NY 11385
      View Details
    • New
      $1,250,000
      2,100 SF

      Ridgewood Mixed-Use Investment Opportunity

      Mixed-use property with residential and commercial potential in Ridgewood.
      6728 Forest Ave, Ridgewood, NY 11385
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      New Flex Space Available

      New construction flex and industrial space designed for business operations.
      48-05 Metropolitan Ave, Queens, NY 11385
      View Details
    • $2,595 /Mo
      380 SF

      Ridgewood Commercial Space with Basement

      380 SF ground-floor space with massive basement and private entrance.
      1829 Grove St, Ridgewood, NY 11385
      View Details
    • $15,625 /Mo

      Prime Glendale Commercial Space Available

      High-visibility space near Myrtle Avenue, ideal for diverse uses.
      71-20 Cypress Hills St, Glendale, NY 11385
      View Details
    • Contact for pricing
      4,500 SF

      Glendale Flex Space Available

      4,500 SF flex space in a busy corridor.
      79-17 Cypress Ave, Glendale, NY 11385
      View Details
    • Contact for pricing
      8,000 SF

      Glendale Warehouse Space Available

      8,000 SF warehouse space with two street frontages.
      72-24 61St St, Glendale, NY 11385
      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.
    48-05 Metropolitan Ave
    Queens, NY 11385
    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

    Thank You for Inquiry
    48-05 Metropolitan Ave, Queens, NY, 11385
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!