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    9231 55Th Ave Elmhurst, NY 11373
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    9231 55Th Ave Elmhurst, NY 11373

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    • Commercial real estate
    Off-Market
    Property ID
    US63-2555759
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 9231 55Th Ave

    Property type
    Commercial real estate

    Description

    This exceptional mixed-use investment property, located at 9231 55th Ave in Elmhurst, NY 11373, presents a compelling opportunity. Situated on a generous 40x100 lot (0.09 sq ft), this three-family home boasts a total of 3360 square feet and offers seven bedrooms and five bathrooms. The property features a finished basement, a family room, and a boiler room, providing ample space and functionality. The first floor comprises two bedrooms, two bathrooms, a living room, and a dining room. The second floor mirrors this layout, also including two bedrooms, two bathrooms, a living room, dining room, and kitchen, and benefits from two separate electric/gas meters. The third floor offers two bedrooms and one bathroom. All floors have separate entrances, enhancing privacy and potential rental income streams. The property's convenient location is a significant advantage, offering easy access to the E, M, and R subway lines and numerous bus routes, providing direct transportation to Manhattan. With ample parking for five or more cars, this property is ideally positioned for strong rental demand and future appreciation. The asking price is $1,788,888. This is a rare opportunity to acquire a substantial mixed-use property in a thriving Elmhurst neighborhood, close to Queens Center Mall.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Elmhurst
    County
    36081
    State
    New York
    Longitude
    -73.869305
    Latitude
    40.7377445

    Comparable in this City

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      Elmhurst Mixed-Use Investment Property

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      Mixed-Use Building in Elmhurst

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      Elmhurst Mixed-Use Investment Opportunity

      Mixed-use property with commercial and residential units in Elmhurst.
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    Similar Nearby for Sale

    • $3,380,000
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      Elmhurst Mixed-Use Investment Opportunity

      Prime location, high-return potential. Three-story building.
      4042 82Nd St, Elmhurst, NY 11373
      View Details
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      4,572 SF

      Mixed-Use Building Near Transportation

      Mixed-use building near subway and retail in Queens.
      40-42 82Nd St, Queens, NY 11373
      View Details
    • $2,800,000
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      Elmhurst Mixed-Use Investment Property

      Four-unit brick building with storefront and apartments in Elmhurst.
      84-38 Grand Ave, Elmhurst, NY 11373
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      11,000 SF

      Mixed-Use Corner Property in Elmhurst

      Prime investment opportunity near Roosevelt and 74th Street train station.
      76-17 Broadway, Queens, NY 11373
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    • $2,550,000
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      Mixed-Use Building in Elmhurst

      Mixed-use building near train, hospital, retail, and residential spaces.
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      View Details
    • $1,388,000

      Elmhurst Mixed-Use Investment Opportunity

      Mixed-use property with commercial and residential units in Elmhurst.
      9106 43Rd Ave, Queens, NY 11373
      View Details

    Similar Nearby for Lease

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      Second Floor Office Space Available

      Second floor office space with private entrance in Queens.
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      Queens Blvd Commercial Space

      Commercial space available for lease in Queens, NY.
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      Prime Elmhurst Retail Space

      New retail space in a high-traffic Elmhurst location.
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    Elmhurst, NY 11373
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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.

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