Mixed-Use Property with
For Sale
$875,000
105-24 Crossbay Boulevard, New York, NY 11417
Two apartments and storefront space support a flexible mixed-use configuration on Crossbay Boulevard.
Property Size2,500 SF
Price / SF$350
Days on Market8
Property Features for 105-24 Crossbay Boulevard
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Mixed Use
Zoning
R6B/ C2-3
Additional Details
Road Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$12,000
Listing Agency:
Century 21 Milestone Team Rlty
(718) 291-7000
Listed By:
Shameeza Ally
(646) 866-1719
Source:
Xome
Added: Aug 30
Changed: Sep 6
Last Checked: Sep 6 at 5:00AM
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 21 Milestone Team Rlty
Investment Insights
Based on property information with market context.
This mixed-use property combines two apartments with storefront space in a single commercial and residential configuration. The property size is listed as 2500, with zoning identified as R6B/C2-3.
Located at 105-24 Crossbay Boulevard in New York, NY 11417, the building offers frontage along Crossbay Boulevard and a combination of residential and retail components.
Located at 105-24 Crossbay Boulevard in New York, NY 11417, the building offers frontage along Crossbay Boulevard and a combination of residential and retail components.
Key Highlights
- Two apartments plus storefront space
- Zoned R6B/C2‑3
- Located at 105‑24 Crossbay Boulevard, New York, NY 11417
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
$79,688
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
9.11%
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%
$1,593,760
$1.6M
Cap Rate 7%
$1,138,400
$1.1M
Cap Rate 9%
$885,422
$885.4K
Market Conditions
NOI Build-Up for 2,500 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
$150.0K $60.00/SF
− Vacancy
−$22.5K −$9.00/SF
EGI
$127.5K $51.00/SF
− OpEx
−$47.8K −$19.13/SF
NOI
$79.7K $31.88/SF
Area
New York, NY
Vacancy
15.00%
Lease Rate
$60.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,593,760
Cap Rate 7%
$1,138,400
Cap Rate 9%
$885,422
Alternative Uses
Best Use
Retail
$5.03M
$4.40M – $5.86M
NOI $351,811 @ 7.0% cap · market cap 40.21%
Second Best
Mixed Use
$1.14M
$996.1K – $1.33M
NOI $79,688 @ 7.0% cap · market cap 9.11%
Theoretical Best
Specialty Retail
$6.22M
$5.45M – $7.26M
NOI $435,600 @ 7.0% cap · market cap 49.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,922
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two apartments and storefront space support a flexible mixed-use configuration on Crossbay Boulevard.
Where is this mixed-use property located?
The property is located at 105-24 Crossbay Boulevard New York, NY.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Two apartments plus storefront space; Zoned R6B/C2‑3; Located at 105‑24 Crossbay Boulevard, New York, NY 11417
