Brick Mixed-Use
For Sale
$1,329,000
11420 Rockaway Boulevard, South Ozone Park, NY 11420
Two-story property combines commercial space with two residential apartments under C2-3 zoning.
Property Size3,600 SF
Lot Size0.06 Acres
Price / SF$604.09
Days on Market207
Property Features for 11420 Rockaway Boulevard
General Information
Standard status
Active
Size
3,600 SF
Total Parking Spaces
2
Lot size
0.06 Acres
Property subtype
Commercial
Zoning
c2-3
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$30,287
Building Details
Building Size
3,600 SF
Year Built
1931
Buildings
1
Stories
2
Units
3
Construction
brick
Listing Agency:
Vision Homes Real Estate LLC
(917) 957-9969
Listed By:
Avnish Kumar · License #10491209469
(917) 957-9969
Source:
Callexitfirst
Added: Feb 3
Changed: Aug 28
Last Checked: Aug 25 at 9:10AM
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.
This brick mixed-use building was constructed in 1931 on a 2,700-square-foot lot, with a 20-by-110-foot building footprint. The property includes commercial space on the first floor and two residential apartments above, creating a configuration suited to combined business and residential occupancy. The first-floor space is expected to be delivered vacant, while the apartments provide established rental use.
The property is situated on Rockaway Boulevard in South Ozone Park, with access to nearby shops, transit, major thoroughfares, and local amenities. C2-3 zoning supports the property's mixed-use classification.
The property is situated on Rockaway Boulevard in South Ozone Park, with access to nearby shops, transit, major thoroughfares, and local amenities. C2-3 zoning supports the property's mixed-use classification.
Key Highlights
- Mixed‑use building at 11420 Rockaway Boulevard, South Ozone Park, NY 11420
- 20x110 ft building on a 2,700 sqft 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
$72,432
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
5.45%
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%
$1,448,640
$1.4M
Cap Rate 7%
$1,034,743
$1.0M
Cap Rate 9%
$804,800
$804.8K
Market Conditions
NOI Build-Up for 2,200 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
$110.9K $50.40/SF
− Vacancy
−$14.3K −$6.50/SF
EGI
$96.6K $43.90/SF
− OpEx
−$24.1K −$10.97/SF
NOI
$72.4K $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%
$1,448,640
Cap Rate 7%
$1,034,743
Cap Rate 9%
$804,800
Alternative Uses
Best Use
Office B
$1.03M
$905.4K – $1.21M
NOI $72,432 @ 7.0% cap · market cap 5.45%
Second Best
Apartment 5plus
$768.3K
$672.2K – $896.3K
NOI $53,778 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$1.62M
$1.42M – $1.89M
NOI $113,531 @ 7.0% cap · market cap 8.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,470
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-story property combines commercial space with two residential apartments under C2-3 zoning.
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 at 11420 Rockaway Boulevard, South Ozone Park, NY 11420; 20x110 ft building on a 2,700 sqft lot; Two residential apartments on the second floor
