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    Property profile & analytics
    OFF-MARKET Estimated value $4,170,000
    Office buildings

    1961 49th St, Long Island City, NY 11105-1122

    16,000 SF 0.11 ac lot Built 2007
    Entity Owned 20-yr Hold Free & Clear
    Property ID
    US63-4189226
    Property summary
    AI-generated overview

    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.

    Property profile
    Verified
    Property type Office buildings
    Use group OFFICE BUILDING (MULTI-STORY)
    Year built 2007
    Total area 16,000 SF
    Lot 0.11 ac (5,000 SF)
    Zoning code M1-1
    APN 00755-0005
    UPID US63-4189226
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    $4.17M
    Owner & transaction history
    Astoria Warehouse Enterprises · 20 yrs held
    Astoria Warehouse Enterprises
    since 2005
    1 recorded transaction
    2005
    $1.0M
    Zoning & alternative use
    M1-1 · Long Island City, NY
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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