Three-Unit Mixed-Use
For Sale
$2,550,000
12-06 149th Street, New York, NY 11357
Two commercial spaces and an upper-level residence create a mixed-use configuration with R2 zoning.
Property Size6,748 SF
Lot Size0.16 Acres
Price / SF$377.89
Days on Market18
Property Features for 12-06 149th Street
General Information
Standard status
Active
Size
6,748 SF
Lot size
0.16 Acres
Property subtype
Mixed Use
Zoning
R2
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 4BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$36,874
Amenities
Electric
3
Building Details
Year Built
1931
Tenancy
Multi
Listing Agency:
Jamie Realty Group
(718) 309-2982
Listed By:
Xiao Zheng · License #10491212408
(718) 309-2982
Source:
Xome
Added: Jul 24
Changed: Aug 9
Last Checked: Aug 10 at 3:00AM
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 Jamie Realty Group
Investment Insights
Based on property information with market context.
This mixed-use property contains two separate commercial spaces on the first floor, each with one half bathroom. One space measures 2,102 interior square feet, while the other provides 3,854 interior square feet. The second floor is configured as a residence with four bedrooms, two full bathrooms, a living/dining room, and a kitchen. A full unfinished basement adds additional building area.
The property sits on an 82.17-by-85-foot irregular lot, with an 82-by-47-foot building footprint and R2 zoning. Four electric meters and two gas meters serve the property. The Whitestone location is near shops, restaurants, parks, and schools, with access to the Q15 bus. Built in 1931, the property combines commercial and residential components within a single three-unit configuration.
The property sits on an 82.17-by-85-foot irregular lot, with an 82-by-47-foot building footprint and R2 zoning. Four electric meters and two gas meters serve the property. The Whitestone location is near shops, restaurants, parks, and schools, with access to the Q15 bus. Built in 1931, the property combines commercial and residential components within a single three-unit configuration.
Key Highlights
- Two first‑floor commercial spaces measuring 2,102 interior SF and 3,854 interior SF
- Second‑floor residence with 4 bedrooms, 2 full bathrooms, living/dining room, and kitchen
- 82.17X85 IRR lot with an 82X47 building size
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
$215,093
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
8.44%
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%
$4,301,860
$4.3M
Cap Rate 7%
$3,072,757
$3.1M
Cap Rate 9%
$2,389,922
$2.4M
Market Conditions
NOI Build-Up for 6,748 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
$404.9K $60.00/SF
− Vacancy
−$60.7K −$9.00/SF
EGI
$344.1K $51.00/SF
− OpEx
−$129.1K −$19.13/SF
NOI
$215.1K $31.88/SF
Area
New York, NY
Vacancy
15.00%
Lease Rate
$60.00 /SF/Yr
Expense Ratio
37.50%
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%
$4,301,860
Cap Rate 7%
$3,072,757
Cap Rate 9%
$2,389,922
Alternative Uses
Best Use
Retail
$13.57M
$11.87M – $15.83M
NOI $949,609 @ 7.0% cap · market cap 37.24%
Second Best
Mixed Use
$3.07M
$2.69M – $3.58M
NOI $215,093 @ 7.0% cap · market cap 8.44%
Theoretical Best
Specialty Retail
$16.80M
$14.70M – $19.60M
NOI $1,175,772 @ 7.0% cap · market cap 46.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,606
Businesses Nearby
108k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 61%
Dining 21%
Groceries 16%
Electronics 2%
Exxon
Shops & Services
17,498 visits/mo
0.4 miles
Key Food
Groceries
17,155 visits/mo
0.4 miles
Starbucks
Dining
15,431 visits/mo
0.2 miles
Mobil
Shops & Services
13,522 visits/mo
0.2 miles
Chase Bank
Shops & Services
11,714 visits/mo
0.5 miles
Demographics for 11357, NY
42,319
Population
16,586
Households
2.6
Avg Household Size
46
Median Age
38%
College-Educated
86%
High-School Grad
2.8 sq mi
ZIP Area
15,114
Density / Sq Mi
$97,754
Median Household Income
$58,814
Median Earnings
$2,228
Median Rent
$920,200
Median Home Value
Market
Vacancy Rate% for Retail 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 commercial spaces and an upper-level residence create a mixed-use configuration with R2 zoning.
Where is this mixed-use property located?
The property is located at 12-06 149th Street New York, NY.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: Two first‑floor commercial spaces measuring 2,102 interior SF and 3,854 interior SF; Second‑floor residence with 4 bedrooms, 2 full bathrooms, living/dining room, and kitchen; 82.17X85 IRR lot with an 82X47 building size
