Elmhurst Mixed-Use Vacant
For Sale
Contact for pricing
4044 82nd St, Elmhurst, NY
Two-story building with retail, office, and residential spaces.
Property Size4,262 SF
Lot Size0.05 Acres
Price / SF$692.16
Days on Market544
Property Features for 4044 82nd St
General Information
Standard status
Active
Size
4,262 SF
Lot size
0.05 Acres
Property subtype
RETAIL
Listing Agency:
Kassin Sabbagh Realty (KSR)
(212) 417-9217
Listed By:
Samia Farah · License #4OM01167813
(917) 523-1274
Source:
Moodyscre
Added: Mar 25, 2025
Changed: Sep 4
Last Checked: Sep 19 at 9:35AM
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 Kassin Sabbagh Realty (KSR)
Investment Insights
Based on property information with market context.
Located in Elmhurst, this two-story building at 40-44 82nd St was constructed in 1931 and contains three units. The property is situated at the intersection of Corona, Jackson Heights, and Elmhurst. The building is currently vacant. The first floor is designed as a retail space, suitable for an owner-user. The second floor provides office space. The third floor features a three-bedroom apartment. Multiple subway lines, including the 7, R, M, E, and F trains, are easily accessible from the property.
Key Highlights
- Total vacancy offers immediate occupancy and flexibility for owner‑users or investors.
- Prime location at the crossroads of Corona, Jackson Heights, and Elmhurst.
- Versatile mixed‑use property with retail, office, and residential spaces.
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
$140,321
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
4.76%
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%
$2,806,420
$2.8M
Cap Rate 7%
$2,004,586
$2.0M
Cap Rate 9%
$1,559,122
$1.6M
Market Conditions
NOI Build-Up for 4,262 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
$214.8K $50.40/SF
− Vacancy
−$27.7K −$6.50/SF
EGI
$187.1K $43.90/SF
− OpEx
−$46.8K −$10.97/SF
NOI
$140.3K $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%
$2,806,420
Cap Rate 7%
$2,004,586
Cap Rate 9%
$1,559,122
Alternative Uses
Best Use
Office B
$2.00M
$1.75M – $2.34M
NOI $140,321 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$1.49M
$1.30M – $1.74M
NOI $104,182 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$3.14M
$2.75M – $3.67M
NOI $219,940 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
8,242
Businesses Nearby
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Retail space - Two-story building with retail, office, and residential spaces.
Where is this retail space located?
The property is located at 4044 82nd St Elmhurst, NY.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Total vacancy offers immediate occupancy and flexibility for owner‑users or investors.; Prime location at the crossroads of Corona, Jackson Heights, and Elmhurst.; Versatile mixed‑use property with retail, office, and residential spaces.
