Brick Mixed-Use
For Sale
$1,329,000
11420 Rockaway Boulevard, South Ozone Park, NY 11420
Two residential apartments are positioned above a ground-floor commercial space.
Property Size3,600 SF
Days on Market194
Property Features for 11420 Rockaway Boulevard
General Information
Standard status
Active
Size
3,600 SF
Total Parking Spaces
2
Property subtype
Commercial
Zoning
c2-3
Taxes and HOA fees
Annual Taxes
$30,287
Building Details
Building Size
3,600 SF
Year Built
1931
Stories
2
Units
3
Listing Agency:
Vision Homes Real Estate LLC
(917) 957-9969
Listed By:
Avnish Kumar · License #10491209469
(917) 957-9969
Source:
Cohenandcohenrealty
Added: Feb 3
Changed: Aug 12
Last Checked: Aug 15 at 1:27PM
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 Vision Homes Real Estate LLC
Investment Insights
Based on property information with market context.
Constructed in 1931, this solid-brick mixed-use building combines commercial and residential components within a compact urban footprint. The structure measures 20 x 110 feet and sits on a 2,700-square-foot lot. The lower level is identified for commercial use, while the second floor contains two residential apartments that generate rental income.
The property is located on Rockaway Boulevard in South Ozone Park, Queens, near shops, transit, local amenities, and major thoroughfares. C2-3 zoning is reported for the site.
The property is located on Rockaway Boulevard in South Ozone Park, Queens, near shops, transit, local amenities, and major thoroughfares. C2-3 zoning is reported for the site.
Key Highlights
- Mixed‑use building with commercial and residential components
- 20 x 110‑foot building on a 2,700‑square‑foot lot
- Two residential apartments on the second floor
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
$118,526
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
8.92%
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%
$2,370,520
$2.4M
Cap Rate 7%
$1,693,229
$1.7M
Cap Rate 9%
$1,316,956
$1.3M
Market Conditions
NOI Build-Up for 3,600 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
$181.4K $50.40/SF
− Vacancy
−$23.4K −$6.50/SF
EGI
$158.0K $43.90/SF
− OpEx
−$39.5K −$10.97/SF
NOI
$118.5K $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 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%
$2,370,520
Cap Rate 7%
$1,693,229
Cap Rate 9%
$1,316,956
Alternative Uses
Best Use
Office B
$1.69M
$1.48M – $1.98M
NOI $118,526 @ 7.0% cap · market cap 8.92%
Second Best
Apartment 5plus
$1.26M
$1.10M – $1.47M
NOI $88,000 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$2.65M
$2.32M – $3.10M
NOI $185,777 @ 7.0% cap · market cap 13.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,530
Businesses Nearby
Explore this area
Business Placement
Demographics for 11420, NY
47,383
Population
14,835
Households
3.2
Avg Household Size
40
Median Age
22%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
22,563
Density / Sq Mi
$98,584
Median Household Income
$45,571
Median Earnings
$2,032
Median Rent
$673,700
Median Home Value
Market
Vacancy Rate% for Office 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 - Two residential apartments are positioned above a ground-floor commercial space.
Where is this mixed-use property located?
The property is located at 11420 Rockaway Boulevard South Ozone Park, NY.
What is the asking price?
The asking price for this property is $1,329,000.
What are key features of this property?
This property features: Mixed‑use building with commercial and residential components; 20 x 110‑foot building on a 2,700‑square‑foot lot; Two residential apartments on the second floor
