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    Mixed-Use Building in Rockaway Park Title is generated by Realmo AI

    98-18 Rockaway Beach Blvd, Rockaway Park, NY

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    9,800 SF mixed-use building with retail and residential space.

    Type:MULTIFAMILY
    Property size:
    9,800 SF
    Lot size:
    0.14 Acres
    Price / SF:
    $303/SF
    Added:
    Jul 7, 2023
    Days on Market:
    1071
    Last Refresh:
    May 19 at 10:13 pm

    Property Features for 98-18 Rockaway Beach Blvd

    General Information

    Standard status
    Active
    Size
    9,800 SF
    Lot size
    0.14 Acres
    Property subtype
    MULTIFAMILY

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    Listing Contact
    Ira Sherman
    Ira Sherman

    Listing agent Ira Sherman

    Listing office Greiner-Maltz Real Estate - Corporate

    Listing date Jul 7, 2023

    Source Moodyscre

    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 Greiner-Maltz Real Estate - Corporate

    HighLights

    • Large Building Size: 9,800 SF total, offering significant space.
    • Mixed‑Use Zoning (R4‑1, C1‑3): Allows for both residential and commercial use.
    • Substantial Retail Space: 3,200 SF dedicated to retail, ideal for generating rental income.
    • Significant Residential Space: 6,600 SF of residential space, suitable for multiple units.
    • Large Lot Size: 5,902 SF lot dimension.
    • Over 6 Family with Stores (C7) Building Class: Suitable for a multi‑family investment property with commercial units.

    Overview

    Located in Rockaway Park, NY, this mixed-use building offers a total of 9,800 square feet of space. The building, classified as a C7 (Over 6 Family with Stores), spans three stories and is situated on a 5,902 square foot lot. The building dimensions are 50 feet by 70 feet. The zoning is R4-1, C1-3, with a FAR as built of 1.66. The property features 6,600 square feet of residential space and 3,200 square feet of retail space. The assessed valuation is $1,724,000.00, and the real estate taxes were $74,003.00 for the 20/21 period. The property is identified as Block 16154, Lot 0101.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $452.8k $46.20
    − Vacancy −$17.2k −$1.76
    EGI $435.6k $44.44
    − OpEx −$196.0k −$20.00
    NOI $239.6k $24.44
    9,800 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $3.42M
    $2.99M – $3.99M (±1% cap)
    NOI $239,555 @ 7.0% cap · market cap 8.05%
    Second Best
    Retail
    $2.50M
    $2.19M – $2.92M (±1% cap)
    NOI $174,930 @ 7.0% cap · market cap 5.88%
    Theoretical Best
    Office A
    $7.22M
    $6.32M – $8.43M (±1% cap)
    NOI $505,727 @ 7.0% cap · market cap 17.00%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rockaway Park
    County
    Queens
    State
    New York
    Longitude
    -73.771
    Latitude
    40.5968

    FAQs

    What type of property is this?
    Mixed-use property - 9,800 SF mixed-use building with retail and residential space.
    Where is this mixed-use property located?
    The property is located at 98-18 Rockaway Beach Blvd Rockaway Park, NY.
    What is the asking price?
    The asking price for this property is $2,975,000.
    What are key features of this property?
    This property features: Large Building Size: 9,800 SF total, offering significant space.; Mixed‑Use Zoning (R4‑1, C1‑3): Allows for both residential and commercial use.; Substantial Retail Space: 3,200 SF dedicated to retail, ideal for generating rental income.
    (516) 987-0027 Call to check price and availability
    More about this property
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