1961 49Th StQueens, NY 11105

Property Details for 1961 49Th St

Year built

2007

Lot size

0.11 AC

Property size (Sq ft)

16,000 SF

Zone code

M1-1

Property type

Office buildings

APN

00755-0005

APU

7550005

Description

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 approach

  CAP return

  Valuation

  6%

  $2,645,278

  6.5%

  $2,441,795

  7%

  $2,267,381

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,090,560

  Geo Method

  $2,090,560

• Alternative Use

  Use

  Valuation

  Residential

  $3,027,826

  Hospitality

  $2,773,472

  Educational

  $2,307,496

  Medical

  $2,386,854

  Retail

  $3,589,439

Location Insight

City

Long Island City

County

Queens

State

New York

Latitude

40.7727

Longitude

-73.8951

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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