Mixed-Use Building with
For Sale
$1,375,000
118-65 farmers blvd, Saint Albans, NY 11412
Commercial Sale, Saint Albans, NY
Property Size3,742 SF
Lot Size0.10 Acres
Price / SF$367.45
Days on Market90
Property Features for 118-65 farmers blvd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Mixed Use
Subdivision
St. Albans
Standard status
Active
Size
3,742 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
6260
Utilities
Heating system
Hot Water(Heating), Natural Gas
Building Details
Year built
1930
Building materials
Masonite
Listing Agency:
5 BORO REALTY CORP
(917) 705-0005
Listed By:
Nina Sabag · License #10311207532
855-305-DEAL
Added: Jun 8
Changed: Aug 27
Last Checked: Sep 5 at 12:06PM
MLS# 11803203
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This single-story mixed-use building at 118-65 Farmers Boulevard contains 3,742 square feet on a 0.1-acre parcel. The property includes a deli/grocery operation and two residential apartments configured as 3BR and 2BR units. Masonite construction and hot-water heating served by natural gas are reported, with the building dating to 1930.
The corner location provides frontage on two streets in Saint Albans, Queens. Q3, Q4, and Q84 bus service is nearby, while St. Albans LIRR station and JFK International Airport are also within the surrounding transportation network. The deli/grocery tenancy is secured through 2031, adding an established commercial component to the residential mix.
The corner location provides frontage on two streets in Saint Albans, Queens. Q3, Q4, and Q84 bus service is nearby, while St. Albans LIRR station and JFK International Airport are also within the surrounding transportation network. The deli/grocery tenancy is secured through 2031, adding an established commercial component to the residential mix.
Key Highlights
- 3,742‑square‑foot single‑story mixed‑use building on a 0.1‑acre parcel
- Deli/grocery tenancy secured through 2031
- Two residential apartments: 3BR and 2BR
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$91,471
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.65%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,829,420
$1.8M
Cap Rate 7%
$1,306,729
$1.3M
Cap Rate 9%
$1,016,344
$1.0M
Market Conditions
NOI Build-Up for 3,742 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$172.9K $46.20/SF
− Vacancy
−$6.6K −$1.76/SF
EGI
$166.3K $44.44/SF
− OpEx
−$74.8K −$20.00/SF
NOI
$91.5K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,829,420
Cap Rate 7%
$1,306,729
Cap Rate 9%
$1,016,344
Alternative Uses
Best Use
Specialty Retail
$2.47M
$2.16M – $2.89M
NOI $173,189 @ 7.0% cap · market cap 12.60%
Second Best
Apartment 5plus
$1.31M
$1.14M – $1.52M
NOI $91,471 @ 7.0% cap · market cap 6.65%
Theoretical Best
Office A
$2.76M
$2.41M – $3.22M
NOI $193,105 @ 7.0% cap · market cap 14.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,571
Businesses Nearby
Explore this area
Business Placement
Demographics for 11412, NY
37,958
Population
12,821
Households
3
Avg Household Size
41
Median Age
25%
College-Educated
89%
High-School Grad
1.6 sq mi
ZIP Area
23,724
Density / Sq Mi
$98,418
Median Household Income
$48,243
Median Earnings
$1,630
Median Rent
$633,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner property combines retail use with two residential apartments.
Where is this mixed-use property located?
The property is located at 118-65 farmers blvd Saint Albans, NY.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: 3,742‑square‑foot single‑story mixed‑use building on a 0.1‑acre parcel; Deli/grocery tenancy secured through 2031; Two residential apartments: 3BR and 2BR
