Mixed-Use Building with Retail
New
For Sale
$2,700,000
10002 37th Ave, Queens, NY 11368
Five apartments occupy the upper floors above a ground-level commercial unit.
Property Size4,506 SF
Days on Market2
Property Features for 10002 37th Ave
General Information
Standard status
Active
Size
4,506 SF
Property subtype
Commercial
Site & Location
Corner Location
Yes
Public Transit
Yes
Additional Details
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$25,105
Building Details
Building Size
4,506 SF
Year Built
1931
Buildings
1
Units
6
Construction
brick masonry
Tenancy
Multi
Listing Agency:
Century Homes Realty Group LLC
Listed By:
Uriel Echeverry
(718) 886-6800
Source:
Elliman
Added: Oct 9
Changed: Oct 10
Last Checked: Oct 10 at 2:59AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Century Homes Realty Group LLC
Investment Insights
Based on property information with market context.
This freestanding brick masonry property contains six units: a commercial storefront at street level and five apartments on the floors above. Constructed in 1931, the building combines residential and commercial space within one property.
The address is in Queens, with access to the 7 train, local buses, and neighborhood shopping districts. Walk Score is 92, Bike Score is 78, and Transit Score is 100.
The address is in Queens, with access to the 7 train, local buses, and neighborhood shopping districts. Walk Score is 92, Bike Score is 78, and Transit Score is 100.
Key Highlights
- Six units: one commercial storefront and five apartments
- Brick masonry construction; built in 1931
- Walk Score 92, Bike Score 78, and Transit Score 100
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$110,147
Cap Rate
4.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,202,940
$2.2M
Cap Rate 7%
$1,573,529
$1.6M
Cap Rate 9%
$1,223,856
$1.2M
Market Conditions
NOI Build-Up for 4,506 SF
Gross rent
$208.2K $46.20/SF
− Vacancy
−$7.9K −$1.76/SF
EGI
$200.3K $44.44/SF
− OpEx
−$90.1K −$20.00/SF
NOI
$110.1K $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 Rate 5%
$2,202,940
Cap Rate 7%
$1,573,529
Cap Rate 9%
$1,223,856
Alternative Uses
Best Use
Apartment 5plus
$1.57M
$1.38M – $1.84M
NOI $110,147 @ 7.0% cap · market cap 4.08%
Second Best
Retail
$1.15M
$1.01M – $1.34M
NOI $80,432 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$3.32M
$2.91M – $3.88M
NOI $232,531 @ 7.0% cap · market cap 8.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,412
Businesses Nearby
Explore this area
Business Placement
Demographics for 11368, NY
117,110
Population
31,165
Households
3.8
Avg Household Size
34
Median Age
14%
College-Educated
65%
High-School Grad
2.6 sq mi
ZIP Area
45,042
Density / Sq Mi
$71,798
Median Household Income
$33,742
Median Earnings
$1,925
Median Rent
$751,700
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 - Five apartments occupy the upper floors above a ground-level commercial unit.
Where is this mixed-use property located?
The property is located at 10002 37th Ave Queens, NY.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: Six units: one commercial storefront and five apartments; Brick masonry construction; built in 1931; Walk Score 92, Bike Score 78, and Transit Score 100
