1961 49th St, Long Island City, NY 11105-1122
This newly renovated, four-story (2022) building at 1961 49th Street in Queens, NY (zip code 11105) offers 16,000 square feet of versatile commercial space. The property is zoned M1 and features a mix of office and warehouse space, ideal for a variety of businesses. The ground floor includes a 5,000-square-foot warehouse with a 14+ foot ceiling height, a drive-in gate (12-foot clearance), a full sprinkler system, and heating. This space is complemented by one loading dock and one drive-in. The upper three floors provide approximately 4,000 square feet each (with the top floor slightly smaller at 3,000 SF), featuring loft-like open spaces perfect for traditional, medical, executive, or creative office uses. These floors boast large windows for abundant natural light, central heating and cooling, and pre-wiring for phone and data. The building also includes an elevator and two staircases. Two outdoor spaces, totaling 2,000 square feet, offer expansive city views. The building has 50 feet of frontage on 49th Street, providing excellent street visibility. The property benefits from convenient access to major transportation arteries, including the Grand Central Parkway and the BQE, and is in close proximity to LaGuardia Airport and all New York City boroughs. The building is equipped with an 800-amp, 3-phase power system and a video intercom system. Currently, one 3,000 square foot space is available for lease.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2024Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
M1-1 · Long Island City, NYLong Island City. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.