Building Details

Building Size 5,120 SF

Year Built 1930

Stories 3

Units 3

Listing Agency: Telemundo Realty Corp

Listed By: Eduardo Ramirez · License #10401329468 Show Phone

Source: Elliman

Added: Nov 27, 2025 Changed: Oct 7 Last Checked: Oct 10 at 12:01AM

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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 Telemundo Realty Corp

Investment Insights

Based on property information with market context.

This mixed-use property features a first floor, basement, and yard currently rented to a barber shop for $5,000 per month, with the tenant covering 40% of the water bill. The second floor comprises a three-bedroom apartment with a living room, kitchen, and bathroom, generating a monthly rental income of $4,150. The third floor mirrors this layout, also featuring three bedrooms, one bathroom, a kitchen, and a living room, and is rented for $3,050 per month, with the tenant responsible for all utilities except cold water. Constructed of brick and in very good condition, the property benefits from its proximity to buses, trains, supermarkets, restaurants, a realtor office, banks, and a school. It is also conveniently located near Citifield Stadium. The area is set to benefit from upcoming construction, including a soccer stadium and shopping center, promising significant appreciation for investors.

Key Highlights

• High Rental Income: Generates $12,200 per month.
• Mix Use Property: Commercial space (barber shop), basement, yard, plus two residential units.
• Tenant Pays Utilities: Barber shop covers 40% of the water bill, 3rd‑floor tenant pays all utilities except cold water.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$125,155

Cap Rate

6.59%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,503,100 $2.5M

Cap Rate 7%

$1,787,929 $1.8M

Cap Rate 9%

$1,390,611 $1.4M

Market Conditions

NOI Build-Up for 5,120 SF

Gross rent

$236.5K $46.20/SF

− Vacancy

−$9.0K −$1.76/SF

EGI

$227.6K $44.44/SF

− OpEx

−$102.4K −$20.00/SF

NOI

$125.2K $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%

$2,503,100

Cap Rate 7%

$1,787,929

Cap Rate 9%

$1,390,611

Alternative Uses

Best Use

Apartment 5plus

$1.79M

$1.56M – $2.09M (±1% cap)

NOI $125,155 @ 7.0% cap · market cap 6.59%

Second Best

Retail

$1.31M

$1.14M – $1.52M (±1% cap)

NOI $91,392 @ 7.0% cap · market cap 4.81%

Theoretical Best

Office A

$3.77M

$3.30M – $4.40M (±1% cap)

NOI $264,217 @ 7.0% cap · market cap 13.91%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Migue’s Beauty Salon Hair Salon

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Building Supply Auto Parts Store Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

6,666

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Mixed-use property with strong rental income and future appreciation potential.

Where is this mixed-use property located?

The property is located at 106-11 Northern Blvd Queens, NY.

What is the asking price?

The asking price for this property is $1,900,000.

What are key features of this property?

This property features: High Rental Income: Generates $12,200 per month.; Mix Use Property: Commercial space (barber shop), basement, yard, plus two residential units.; Tenant Pays Utilities: Barber shop covers 40% of the water bill, 3rd‑floor tenant pays all utilities except cold water.