Corner Retail Space with Loading
For Sale
$1,700,000
149-19 Centreville Street, Ozone Park, NY 11417
Commercial Sale, Ozone Park, NY
Property Size6,000 SF
Lot Size0.14 Acres
Price / SF$283.33
Days on Market277
Property Features for 149-19 Centreville Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R3X
Directions
www.mapquest.com
Standard status
Active
APN
11552-0062
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
41992
Utilities
Sewer type
Public Sewer
Heating system
Steam
Cooling system
Multi Units
Water source
Public
Amenities
private driveway
loading/off loading area
Building Details
Year built
1920
Floors in Building
1
Building materials
Block
Listing Agency:
Akcess24Homes Inc
(718) 738-2425
Listed By:
Moheed Oasman
(718) 322-5800
Added: Dec 2, 2025
Changed: Aug 19
Last Checked: Sep 5 at 4:06PM
MLS# 940621
Copyright © 2026 OneKey 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 R3X-zoned retail property includes 5,000 square feet of retail space within a 6,000-square-foot building. The corner deli has operated at the property for 35 years, and the entire premises will be delivered vacant at closing. A private driveway and separate loading and unloading area support daily commercial access.
Built in 1920 with block construction, the property uses steam heat, multi-unit cooling, public water, and public sewer. The 0.1377-acre site is in Ozone Park, near JFK, major highways, Resorts World Casino, and public transportation.
Built in 1920 with block construction, the property uses steam heat, multi-unit cooling, public water, and public sewer. The 0.1377-acre site is in Ozone Park, near JFK, major highways, Resorts World Casino, and public transportation.
Key Highlights
- 5,000 SF of retail space within a 6,000‑square‑foot building
- Corner deli operating at the property for 35 years
- Private driveway with loading and unloading area
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
$107,100
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
6.30%
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%
$2,142,000
$2.1M
Cap Rate 7%
$1,530,000
$1.5M
Cap Rate 9%
$1,190,000
$1.2M
Market Conditions
NOI Build-Up for 6,000 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
$180.0K $30.00/SF
− Vacancy
−$27.0K −$4.50/SF
EGI
$153.0K $25.50/SF
− OpEx
−$45.9K −$7.65/SF
NOI
$107.1K $17.85/SF
Area
Queens County, NY
Vacancy
15.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,142,000
Cap Rate 7%
$1,530,000
Cap Rate 9%
$1,190,000
Alternative Uses
Best Use
Specialty Retail
$3.97M
$3.47M – $4.63M
NOI $277,695 @ 7.0% cap · market cap 16.34%
Second Best
Retail
$1.53M
$1.34M – $1.79M
NOI $107,100 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$4.42M
$3.87M – $5.16M
NOI $309,629 @ 7.0% cap · market cap 18.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,651
Businesses Nearby
Explore this area
Business Placement
Demographics for 11417, NY
31,229
Population
9,855
Households
3.2
Avg Household Size
38
Median Age
25%
College-Educated
78%
High-School Grad
1.1 sq mi
ZIP Area
28,390
Density / Sq Mi
$86,330
Median Household Income
$42,193
Median Earnings
$1,853
Median Rent
$731,900
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Includes a private driveway and dedicated loading area for deliveries.
Where is this retail space located?
The property is located at 149-19 Centreville Street Ozone Park, NY.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 5,000 SF of retail space within a 6,000‑square‑foot building; Corner deli operating at the property for 35 years; Private driveway with loading and unloading area
