6041 56th Rd Flushing, NY 11378-2320
- Investment properties
- 3,030 SF
- 0.06 lot acres
Current Use by Public Records
- Investment properties
Property Details for 6041 56th Rd
- Year built
- 1899
- Lot size
- 0.06 lot acres
- Property size
- 3,030 SF
- Zone code
- R4
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 02703-0113
- APU
- 27030113
Description
This exceptional mixed-use property in Maspeth, NY, presents a lucrative investment opportunity. Situated on a 25 x 100 foot lot, the building boasts a substantial 25 x 45 foot footprint. The property features a fully renovated, oversized commercial space on the ground floor, currently configured as a large retail store with the potential for subdivision into two separate commercial units. Above the store are two spacious, fully renovated four-bedroom apartments, each generating significant rental income. Current rental income is $4,500 per month for the commercial space and $4,235 per month for each of the two residential units. The property also includes a finished backyard and a large, unfinished basement offering additional potential for expansion or storage. The building's prime location in Maspeth, combined with its strong rental income and versatile layout, makes this an ideal investment for both seasoned and aspiring real estate investors seeking a high-return property in a desirable New York City neighborhood. The property is offered at $1,800,000. This represents a compelling opportunity to acquire a well-maintained, income-producing asset with significant upside potential. The current configuration and rental income provide immediate cash flow, while the flexible commercial space and ample basement offer opportunities for future value enhancement.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $900,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $920,000
- 6.5%
- $1,050,000
- 7%
- $1,080,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,105,000
- Geo Method
- $905,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,170,000
- Retail
- $1,155,000
- Mixed-Use
- $885,000
- Hospitality
- $1,040,000
- Educational
- $1,035,000
- Residential Income
- $1,085,000
- Energy
- $1,175,000
- Income-Based Land
- $960,000
- Food Service
- $965,000
Location Insight
- Map
- Local Demand
- City
- Flushing
- County
- Queens
- State
- New York
- Longitude
- -73.9047
- Latitude
- 40.7246
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
