Mixed-Use Investment Property in
For Sale
$3,800,000
10116 39th Ave, Queens, NY 11368
Well-maintained mixed-use property with diversified income streams and upside.
Property Size6,495 SF
Days on Market188
Property Features for 10116 39th Ave
General Information
Standard status
Active
Size
6,495 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$11,328
Building Details
Building Size
6,495 SF
Year Built
2012
Units
8
Listing Agency:
Lin Pan Realty Group LLC
Listed By:
Qian Huang
(646) 785-1699
Source:
Elliman
Added: Apr 24
Changed: Oct 25
Last Checked: Oct 26 at 3:59PM
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 Lin Pan Realty Group LLC
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Investment Insights
Based on property information with market context.
This well-maintained mixed-use investment property offers stable cash flow in a convenient neighborhood near public transportation, retail, and dining. The property includes a ground-floor medical office and seven residential units, supplemented by rooftop lease income, providing diversified income streams. The building features a medical office and a 1-bedroom unit with a large backyard on the first floor, with six additional 1-bedroom apartments on the second, third, and fourth floors. Each residential floor contains two 1-bedroom units. The property generates approximately $207,000 in annual gross operating income, with estimated operating expenses of about $26,000, resulting in an approximate $181,000 Net Operating Income (NOI) annually. Located between Corona and Flushing, the property benefits from strong rental demand, proximity to major transportation routes, neighborhood retail corridors, and access to Manhattan. The location has a bike score of 70, indicating it is very bikeable, a walk score of 89, indicating it is very walkable, and a transit score of 85, indicating excellent transit. This property is an opportunity for investors seeking a stable income-producing property with upside potential in one of Queens’ active rental markets.
Key Highlights
- High Net Operating Income (NOI) of approximately $181,000 annually.
- Diversified income streams from medical office, residential units, and rooftop lease.
- Strong rental demand in a convenient Queens location between Corona and Flushing.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$213,840
Cap Rate
5.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,276,800
$4.3M
Cap Rate 7%
$3,054,857
$3.1M
Cap Rate 9%
$2,376,000
$2.4M
Market Conditions
NOI Build-Up for 6,495 SF
Gross rent
$327.3K $50.40/SF
− Vacancy
−$42.2K −$6.50/SF
EGI
$285.1K $43.90/SF
− OpEx
−$71.3K −$10.97/SF
NOI
$213.8K $32.92/SF
Area
Queens County, NY
Vacancy
12.90%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,276,800
Cap Rate 7%
$3,054,857
Cap Rate 9%
$2,376,000
Alternative Uses
Best Use
Office B
$3.05M
$2.67M – $3.56M
NOI $213,840 @ 7.0% cap · market cap 5.63%
Second Best
Apartment 5plus
$2.27M
$1.98M – $2.65M
NOI $158,767 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$4.79M
$4.19M – $5.59M
NOI $335,173 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
4,835
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Well-maintained mixed-use property with diversified income streams and upside.
Where is this mixed-use property located?
The property is located at 10116 39th Ave Queens, NY.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: High Net Operating Income (NOI) of approximately $181,000 annually.; Diversified income streams from medical office, residential units, and rooftop lease.; Strong rental demand in a convenient Queens location between Corona and Flushing.
