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

    3256 49th St Long Island City, NY 11103-1403

    • Auto shops
    • 15,000 SF
    • 0.34 lot acres
    OFF-MARKET
    Last Sale
    Dec 15, 2022
    $9,550,000
    Value Estimations
    $7,605,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2638251
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Auto shops

    Property Details for 3256 49th St

    Year built
    1940
    Lot size
    0.34 lot acres
    Property size
    15,000 SF
    Zone code
    C8-1
    Property type
    Auto shops
    APN
    00734-0061
    APU
    7340061

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,265,000
      ML approach
      $7,295,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,375,000
      Market price range: $4.98M - $22.5M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $10,270,000
      Current use
      RETAIL STORES
      $8,805,000
      Change: -14% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Long Island City
    County
    Queens
    State
    New York
    Longitude
    -73.9132
    Latitude
    40.7543
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $60,915
    $296,100
    $279,000
    $575,100
    -
    $658,000
    $620,000
    $1,278,000

    Comparable in this City

    • Value Estimation
      $6,085,000
      0.11 Acres

      4902 Newtown Rd

      AUTO REPAIR, GARAGE • 0.11 Acres
      4902 Newtown Rd, Long Island City, NY 11103
      View Details
    • Value Estimation by Request
      1,462 SF

      4118 Broadway

      AUTO REPAIR, GARAGE • 1,462 SF
      4118 Broadway, Long Island City, NY 11103-3105
      View Details
    • Value Estimation by Request
      3,527 SF

      2461 49th St

      AUTO REPAIR, GARAGE • 3,527 SF
      2461 49th St, Long Island City, NY 11103
      View Details
    • Value Estimation
      $8,130,000
      15,705 SF

      50th St

      AUTO REPAIR, GARAGE • 15,705 SF
      50th St, Long Island City, NY 11103
      View Details
    • Value Estimation by Request
      3,800 SF

      2446 49th St

      AUTO REPAIR, GARAGE • 3,800 SF
      2446 49th St, Long Island City, NY 11103
      View Details
    • Value Estimation by Request
      500 SF

      2387 48th St

      AUTO REPAIR, GARAGE • 500 SF
      2387 48th St, Long Island City, NY 11103-1013
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5,000 SF

      Astoria Warehouse with Automotive Use

      4,750 SF warehouse with automotive repair C-of-o in Astoria.
      36-63 34Th St, Astoria, NY 11103
      View Details
    • $10,380,000
      22,155 SF

      Long Island City Mixed-Use Investment

      Modern, fully leased mixed-use building in Long Island City/Astoria.
      25-34 Steinway St, Long Island City, NY 11103
      View Details
    • $4,500,000
      5,267 SF

      Astoria Mixed-Use Investment Opportunity

      Prime Steinway Street frontage with mixed-use flexibility in high-density Astoria.
      3090-3092 Steinway St, Queens, NY 11103
      View Details
    • $2,495,000

      Astoria Mixed-Use Building For Sale

      Mixed-use property with retail and residential income potential.
      33-29 Astoria Blvd N, Astoria, NY 11103
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    • $175,000
      14,577 SF

      Astoria Lounge Business Opportunity

      Studio 59 Lounge: Astoria's vibrant nightlife destination, open Thursday-Sunday.
      3702 Astoria Blvd, Astoria, NY 11103
      View Details
    • $3,200,000

      Astoria Mixed-Use Corner Building

      Mixed-use brick building with residential and commercial units in Astoria.
      4229 Newtown Rd, Queens, NY 11103
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    Similar Nearby for Lease

    • Contact for pricing
      700 SF

      Steinway Street Retail Space For Lease

      700 SF Retail Space, High Traffic Area
      31-89 Steinway St, Queens, NY 11103
      View Details
    • Contact for pricing
      1,944 SF

      Retail Building in Astoria, Queens

      Two-story, single-tenant retail building with 1,944 SF in Astoria.
      3152 Steinway St, Astoria, NY 11103
      View Details
    • $2,500 /Mo

      Renovated Retail Space Available

      Two renovated retail spaces available for professional use.
      46Th Ave, Long Island City, NY 11103
      View Details
    • Contact for pricing
      200 SF

      Queens Commercial Kitchen Space

      200 sq ft Ghost Kitchen, Prime Location
      24-26 47Th St, Queens, NY 11103
      View Details
    • Contact for pricing
      2,700 SF

      Retail Space in Astoria

      Retail space available for lease in Astoria, New York.
      31-62 Steinway St, Astoria, NY 11103
      View Details
    • Contact for pricing
      1,500 SF

      Astoria Retail Space For Rent

      Retail space with high ceilings and full-size storage basement.
      2842 Steinway St, Astoria, NY 11103
      View Details
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    3256 49th St
    Long Island City, NY 11103-1403
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    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
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