Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    55-60 Myrtle Ave Queens, NY 11385

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    55-60 Myrtle Ave Queens, NY 11385

    View on Map
    • Lifestyle centers
    • 26,000 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 55-60 Myrtle Ave

    Property size
    26,000 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional retail opportunity in Queens County, New York, presents 26,000 square feet of commercial space at 55-60 Myrtle Ave, zip code 11385. The property is categorized as a shopping center with multiple suites available for lease. Four individual suites are available, offering flexible space options ranging from a minimum of 3,215 square feet to a maximum contiguous space of 11,000 square feet. Currently, a significant portion of the building, totaling 28,430 square feet, is vacant, presenting a unique chance for a single tenant to occupy a substantial portion or multiple tenants to establish themselves in this vibrant location. The property's address is 55-60 Myrtle Ave, Queens, NY, and its convenient location within Queens County offers excellent visibility and accessibility. This is an ideal location for businesses seeking high-traffic exposure and a strong presence in a bustling commercial area. The property's size and layout provide ample opportunities for a variety of retail uses. Contact us today to explore the possibilities and secure your space in this prime Queens retail location.

    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
    -73.9063
    Latitude
    40.6999

    Comparable in this City

    • Value Estimation by Request
      138,204 SF

      350 St Nicholas Ave

      Restaurants • 138,204 SF
      350 St Nicholas Ave, Queens, NY 11385
      View Details
    • Value Estimation by Request
      10,755 SF

      48-05 Metropolitan Ave

      Flex space • 10,755 SF
      48-05 Metropolitan Ave, Queens, NY 11385
      View Details
    • Value Estimation by Request
      3,500 SF

      63-40 Fresh Pond Rd

      Retail properties & Spaces • 3,500 SF
      63-40 Fresh Pond Rd, Ridgewood, NY 11385
      View Details
    • Value Estimation by Request
      2,000 SF

      57-31 Myrtle Ave

      Retail properties & Spaces • 2,000 SF
      57-31 Myrtle Ave, Queens, NY 11385
      View Details
    • Value Estimation by Request

      74-68 Myrtle Ave

      Retail properties & Spaces
      74-68 Myrtle Ave, Queens, NY 11385
      View Details
    • Value Estimation
      $17,645,000
      140,373 SF

      7511 Woodhaven Blvd

      DEPARTMENT STORE • 140,373 SF
      7511 Woodhaven Blvd, Ridgewood, NY 11385
      View Details

    Similar Nearby for Sale

    • $3,075,000
      5,625 SF

      Ridgewood Mixed-Use Investment Opportunity

      Corner mixed-use building with strong income in Ridgewood, Queens.
      566 Onderdonk Ave, Ridgewood, NY 11385
      View Details
    • Contact for pricing
      832 SF

      Ridgewood Commercial Space with Kitchen

      Prime Myrtle Avenue location, fully equipped kitchen, turnkey restaurant opportunity.
      6019 Myrtle Ave, Ridgewood, NY 11385
      View Details
    • Contact for pricing
      3,922 SF

      Maspeth Mixed-Use Investment Opportunity

      Mixed-use property in Maspeth, Queens with diversified income streams.
      55-19 Metropolitan Ave, Maspeth, NY 11385
      View Details
    • $1,390,000
      Pending

      Mixed-Use Building in Ridgewood

      Mixed-use building with residential and commercial units for sale.
      71-06 Fresh Pond Rd, Ridgewood, NY 11385
      View Details
    • New
      $1,590,000
      3,230 SF

      Glendale Mixed-Use Property For Sale

      Mixed-use property with liquor store and two apartments in Glendale.
      65-57 Myrtle Ave, Glendale, NY 11385
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Ridgewood Retail Space For Rent

      Retail spaces available in a strong neighborhood shopping area.
      66-77 Fresh Pond Rd, Ridgewood, NY 11385
      View Details
    • Contact for pricing
      7,498 SF

      Retail Space in Busy Center

      Neighborhood retail space with ample parking in a dense market.
      8989 Union Tpke, Glendale, NY 11385
      View Details
    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease in Queens, NY.
      55-60 Myrtle Ave, Queens, NY 11385
      View Details
    • $2,300 /Mo
      376 SF

      Ridgewood Retail/Office Space For Lease

      376 SF retail/office space in Ridgewood, well-trafficked corridor.
      1829 Grove St, Ridgewood, NY 11385
      View Details
    • Contact for pricing

      Retail Space on Myrtle Avenue

      Retail space available on Myrtle Avenue in Queens, New York.
      54-30 Myrtle Ave, Queens, NY 11385
      View Details
    • Contact for pricing
      6,000 SF

      Remodeled Retail Space on Myrtle

      Recently remodeled retail space with high traffic exposure.
      5505 Myrtle Ave, Ridgewood, 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.
    55-60 Myrtle 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

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