Mixed-Use Property Near
For Sale
$1,900,000
106-11 Northern Blvd, Queens, NY 11368
Mixed-use property with strong rental income and future appreciation potential.
Property Size5,120 SF
Lot Size0.05 Acres
Days on Market271
Property Features for 106-11 Northern Blvd
General Information
Standard status
Active
Size
5,120 SF
Lot size
0.05 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$6,189
Building Details
Building Size
5,120 SF
Year Built
1930
Stories
3
Units
3
Listing Agency:
Telemundo Realty Corp
(347) 945-9108
Listed By:
Eduardo Ramirez · License #31RA0597323
(347) 945-9108
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 8
Last Checked: Aug 24 at 10:48AM
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 Telemundo Realty Corp
Investment Insights
Based on property information with market context.
This mixed-use property features a first floor, basement, and yard currently rented to a barber shop for $5,000 per month, with the tenant covering 40% of the water bill. The second floor comprises a three-bedroom apartment with a living room, kitchen, and bathroom, generating a monthly rental income of $4,150. The third floor mirrors this layout, also featuring three bedrooms, one bathroom, a kitchen, and a living room, and is rented for $3,050 per month, with the tenant responsible for all utilities except cold water. Constructed of brick and in very good condition, the property benefits from its proximity to buses, trains, supermarkets, restaurants, a realtor office, banks, and a school. It is also conveniently located near Citifield Stadium. The area is set to benefit from upcoming construction, including a soccer stadium and shopping center, promising significant appreciation for investors.
Key Highlights
- High Rental Income: Generates $12,200 per month.
- Mix Use Property: Commercial space (barber shop), basement, yard, plus two residential units.
- Tenant Pays Utilities: Barber shop covers 40% of the water bill, 3rd‑floor tenant pays all utilities except cold water.
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
$125,155
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
6.59%
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%
$2,503,100
$2.5M
Cap Rate 7%
$1,787,929
$1.8M
Cap Rate 9%
$1,390,611
$1.4M
Market Conditions
NOI Build-Up for 5,120 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
$236.5K $46.20/SF
− Vacancy
−$9.0K −$1.76/SF
EGI
$227.6K $44.44/SF
− OpEx
−$102.4K −$20.00/SF
NOI
$125.2K $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 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%
$2,503,100
Cap Rate 7%
$1,787,929
Cap Rate 9%
$1,390,611
Alternative Uses
Best Use
Apartment 5plus
$1.79M
$1.56M – $2.09M
NOI $125,155 @ 7.0% cap · market cap 6.59%
Second Best
Retail
$1.31M
$1.14M – $1.52M
NOI $91,392 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$3.77M
$3.30M – $4.40M
NOI $264,217 @ 7.0% cap · market cap 13.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,666
Businesses Nearby
Explore this area
Business Placement
Demographics for 11368, NY
117,110
Population
31,165
Households
3.8
Avg Household Size
34
Median Age
14%
College-Educated
65%
High-School Grad
2.6 sq mi
ZIP Area
45,042
Density / Sq Mi
$71,798
Median Household Income
$33,742
Median Earnings
$1,925
Median Rent
$751,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with strong rental income and future appreciation potential.
Where is this mixed-use property located?
The property is located at 106-11 Northern Blvd Queens, NY.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: High Rental Income: Generates $12,200 per month.; Mix Use Property: Commercial space (barber shop), basement, yard, plus two residential units.; Tenant Pays Utilities: Barber shop covers 40% of the water bill, 3rd‑floor tenant pays all utilities except cold water.
