Corner Mixed-Use
For Sale
$1,375,000
118-65 Farmers Boulevard, Saint Albans, NY 11412
A grocery tenant and two apartments combine commercial occupancy with residential units in a single-story property.
Property Size3,742 SF
Price / SF$367.45
Days on Market10
Property Features for 118-65 Farmers Boulevard
General Information
Standard status
Active
Size
3,742 SF
Zoning
R3A
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 3BR, 1 x 2BR
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$6,260
Amenities
Storage Space,Unfinished,Walk-Out Access
1
Yes
Storage Space, Unfinished, Walk-Out Access
Public
No
3742
Building Details
Building Size
3,742 SF
Year Built
1930
Buildings
1
Stories
1
Listing Agency:
5 Boro Realty Corp
(631) 613-8782
Listed By:
Geralda Desir
Source:
Goldcrestrealtygrp
Added: Oct 20
Changed: Oct 28
Last Checked: Oct 28 at 4:12PM
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 5 Boro Realty Corp
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Investment Insights
Based on property information with market context.
This single-story mixed-use property contains 3,742 square feet and was built in 1930. Its commercial space is occupied by a deli and grocery tenant with a lease extending through 2031. Two apartments provide a 3-bedroom and a 2-bedroom unit. Storage space with walk-out access is also present; the storage area is unfinished.
At 118-65 Farmers Boulevard in Saint Albans, the building occupies a corner with frontage on two streets. Nearby transit includes the Q3, Q4, and Q84 bus lines, and the LIRR St. Albans station and JFK International Airport are also referenced as nearby connections. The property is zoned R3A.
At 118-65 Farmers Boulevard in Saint Albans, the building occupies a corner with frontage on two streets. Nearby transit includes the Q3, Q4, and Q84 bus lines, and the LIRR St. Albans station and JFK International Airport are also referenced as nearby connections. The property is zoned R3A.
Key Highlights
- 3,742 SF mixed‑use building, built in 1930
- Commercial space occupied by a deli/grocery tenant through 2031
- Two apartments: one 3‑bedroom and one 2‑bedroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$91,471
Cap Rate
6.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,829,420
$1.8M
Cap Rate 7%
$1,306,729
$1.3M
Cap Rate 9%
$1,016,344
$1.0M
Market Conditions
NOI Build-Up for 3,742 SF
Gross rent
$172.9K $46.20/SF
− Vacancy
−$6.6K −$1.76/SF
EGI
$166.3K $44.44/SF
− OpEx
−$74.8K −$20.00/SF
NOI
$91.5K $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%
$1,829,420
Cap Rate 7%
$1,306,729
Cap Rate 9%
$1,016,344
Alternative Uses
Best Use
Specialty Retail
$2.47M
$2.16M – $2.89M
NOI $173,189 @ 7.0% cap · market cap 12.60%
Second Best
Apartment 5plus
$1.31M
$1.14M – $1.52M
NOI $91,471 @ 7.0% cap · market cap 6.65%
Theoretical Best
Office A
$2.76M
$2.41M – $3.22M
NOI $193,105 @ 7.0% cap · market cap 14.04%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,669
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A grocery tenant and two apartments combine commercial occupancy with residential units in a single-story property.
Where is this mixed-use property located?
The property is located at 118-65 Farmers Boulevard Saint Albans, NY.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: 3,742 SF mixed‑use building, built in 1930; Commercial space occupied by a deli/grocery tenant through 2031; Two apartments: one 3‑bedroom and one 2‑bedroom
