Mixed-Use Building with
For Sale
$1,500,000
101-06 88th, Ozone Park, NY 11416
A three-story brick property combines residential apartments with a ground-floor restaurant space.
Property Size3,520 SF
Lot Size0.04 Acres
Price / SF$426.14
Days on Market74
Property Features for 101-06 88th
General Information
Standard status
Active
Size
3,520 SF
Lot size
0.04 Acres
Property subtype
Commercial
Net Operating Income
$110,000
Units
Unit Mix
1 x studio, 5 x 1BR
Multifamily Units
6
Additional Details
Gross Income
$138,500
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$19,860
Building Details
Building Size
3,520 SF
Year Built
1931
Buildings
1
Stories
3
Units
6
Construction
full brick
Listing Agency:
Winzone Realty Inc
(718) 899-7000
Listed By:
Yuantao Chen · License #10401302872
(646) 829-5899
Source:
Croninreale
Added: Aug 12
Changed: Oct 23
Last Checked: Oct 23 at 3:19PM
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 Winzone Realty Inc
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This three-story, full-brick mixed-use building in Ozone Park contains six rent-stabilized apartments and one ground-floor retail space currently used as a restaurant. The apartment layout includes a one-bedroom unit and a studio on the first floor, two one-bedroom apartments on the second floor, and two more one-bedroom apartments on the third. The basement is divided into three sections, each with a separate entrance. Residential systems include six heating boilers and six hot water heaters; three hot water tanks are also noted.
The roof was replaced three years ago, and the brick was repointed three months ago. The lot measures 20 by 96 feet. The first floor spans 20 by 96 feet, while the second and third floors each measure 20 by 70 feet.
The roof was replaced three years ago, and the brick was repointed three months ago. The lot measures 20 by 96 feet. The first floor spans 20 by 96 feet, while the second and third floors each measure 20 by 70 feet.
Key Highlights
- Six rent‑stabilized apartments and one retail space operating as a restaurant
- First floor has one one‑bedroom apartment, a studio, and retail space; upper floors each contain two one‑bedroom apartments
- Three‑story full‑brick construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$86,044
Cap Rate
5.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,720,880
$1.7M
Cap Rate 7%
$1,229,200
$1.2M
Cap Rate 9%
$956,044
$956.0K
Market Conditions
NOI Build-Up for 3,520 SF
Gross rent
$162.6K $46.20/SF
− Vacancy
−$6.2K −$1.76/SF
EGI
$156.4K $44.44/SF
− OpEx
−$70.4K −$20.00/SF
NOI
$86.0K $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%
$1,720,880
Cap Rate 7%
$1,229,200
Cap Rate 9%
$956,044
Alternative Uses
Best Use
Specialty Retail
$2.33M
$2.04M – $2.72M
NOI $162,914 @ 7.0% cap · market cap 10.86%
Second Best
Apartment 5plus
$1.23M
$1.08M – $1.43M
NOI $86,044 @ 7.0% cap · market cap 5.74%
Theoretical Best
Office A
$2.59M
$2.27M – $3.03M
NOI $181,649 @ 7.0% cap · market cap 12.11%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,971
Businesses Nearby
Explore this area
Business Placement
Demographics for 11416, NY
28,381
Population
8,047
Households
3.5
Avg Household Size
35
Median Age
25%
College-Educated
78%
High-School Grad
0.7 sq mi
ZIP Area
40,544
Density / Sq Mi
$85,544
Median Household Income
$43,899
Median Earnings
$1,964
Median Rent
$733,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A three-story brick property combines residential apartments with a ground-floor restaurant space.
Where is this mixed-use property located?
The property is located at 101-06 88th Ozone Park, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Six rent‑stabilized apartments and one retail space operating as a restaurant; First floor has one one‑bedroom apartment, a studio, and retail space; upper floors each contain two one‑bedroom apartments; Three‑story full‑brick construction
