Mixed-Use Building in Saint
For Sale
$1,250,000
109-11 Farmers Blvd, Queens, NY 11412
Mixed-use building with commercial storefront and residential apartments in Queens.
Property Size2,120 SF
Lot Size0.04 Acres
Days on Market267
Property Features for 109-11 Farmers Blvd
General Information
Standard status
Active
Size
2,120 SF
Lot size
0.04 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,655
Building Details
Building Size
2,120 SF
Year Built
1920
Units
3
Listing Agency:
(917) 943-0898
Listed By:
Brian S. Mannie
(917) 943-0898
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 17
Last Checked: Aug 21 at 8:19AM
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 Brian S. Mannie
Investment Insights
Based on property information with market context.
This mixed-use building is located on Farmers Blvd in Saint Albans. The property features a ground floor commercial storefront and two residential apartments above. Each unit has separate utilities. The commercial space is suitable for retail or professional purposes. The location is near major highways, shopping, and public transportation. It is located in a Queens neighborhood.
Key Highlights
- Prime location on Farmers Blvd in Saint Albans.
- Mixed‑use property with commercial storefront and two residential apartments.
- Separate utilities for each unit.
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
$51,822
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
4.15%
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%
$1,036,440
$1.0M
Cap Rate 7%
$740,314
$740.3K
Cap Rate 9%
$575,800
$575.8K
Market Conditions
NOI Build-Up for 2,120 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
$97.9K $46.20/SF
− Vacancy
−$3.7K −$1.76/SF
EGI
$94.2K $44.44/SF
− OpEx
−$42.4K −$20.00/SF
NOI
$51.8K $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 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%
$1,036,440
Cap Rate 7%
$740,314
Cap Rate 9%
$575,800
Alternative Uses
Best Use
Apartment 5plus
$740.3K
$647.8K – $863.7K
NOI $51,822 @ 7.0% cap · market cap 4.15%
Second Best
Retail
$540.6K
$473.0K – $630.7K
NOI $37,842 @ 7.0% cap · market cap 3.03%
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,402 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,525
Businesses Nearby
Explore this area
Business Placement
Demographics for 11412, NY
37,958
Population
12,821
Households
3
Avg Household Size
41
Median Age
25%
College-Educated
89%
High-School Grad
1.6 sq mi
ZIP Area
23,724
Density / Sq Mi
$98,418
Median Household Income
$48,243
Median Earnings
$1,630
Median Rent
$633,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building with commercial storefront and residential apartments in Queens.
Where is this mixed-use property located?
The property is located at 109-11 Farmers Blvd Queens, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Prime location on Farmers Blvd in Saint Albans.; Mixed‑use property with commercial storefront and two residential apartments.; Separate utilities for each unit.
