Six-Unit Mixed-Use
For Sale
$2,980,000
120-20 Liberty Avenue, Richmond Hill, NY 11419
Corner building with separate utility metering and convenient access to subway service.
Property Size3,814 SF
Days on Market42
Property Features for 120-20 Liberty Avenue
General Information
Standard status
Active
Size
3,814 SF
Property subtype
Commercial
Zoning
R6A
Occupancy
100%
Net Operating Income
$175,320
Site & Location
Corner Location
Yes
Road Access
Yes
Public Transit
Yes
Additional Details
Gross Income
$229,320
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$41,562
Building Details
Building Size
3,814 SF
Year Built
1931
Buildings
1
Stories
2
Units
6
Tenancy
Multi
Listing Agency:
Century 21 Milestone Team Rlty
(718) 291-7000
Listed By:
Anand Mahadeo
Source:
Maurafinnegan
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 29 at 10:21AM
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 Century 21 Milestone Team Rlty
Investment Insights
Based on property information with market context.
This mixed-use property contains six occupied units, divided between three commercial tenants and three residential tenants. Separate meters serve the property, and the building was constructed in 1931. R6A zoning supports the recorded mixed-use configuration.
Positioned on Liberty Avenue in Richmond Hill, the corner property is within walking distance of subway service and surrounded by national and regional businesses, including McDonald's, Checkers, Burger King, TD Bank, Citi Bank, and Dunkin' Donuts.
Positioned on Liberty Avenue in Richmond Hill, the corner property is within walking distance of subway service and surrounded by national and regional businesses, including McDonald's, Checkers, Burger King, TD Bank, Citi Bank, and Dunkin' Donuts.
Key Highlights
- 3 commercial and 3 residential tenants
- 6 units, fully occupied
- Separate meters for the property
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
$93,231
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
3.13%
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%
$1,864,620
$1.9M
Cap Rate 7%
$1,331,871
$1.3M
Cap Rate 9%
$1,035,900
$1.0M
Market Conditions
NOI Build-Up for 3,814 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
$176.2K $46.20/SF
− Vacancy
−$6.7K −$1.76/SF
EGI
$169.5K $44.44/SF
− OpEx
−$76.3K −$20.00/SF
NOI
$93.2K $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%
$1,864,620
Cap Rate 7%
$1,331,871
Cap Rate 9%
$1,035,900
Alternative Uses
Best Use
Apartment 5plus
$1.33M
$1.17M – $1.55M
NOI $93,231 @ 7.0% cap · market cap 3.13%
Second Best
Retail
$972.6K
$851.0K – $1.13M
NOI $68,080 @ 7.0% cap · market cap 2.28%
Theoretical Best
Office A
$2.81M
$2.46M – $3.28M
NOI $196,821 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,672
Businesses Nearby
136k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 41%
Dining 35%
Groceries 14%
Electronics 4%
Golden Farms
Groceries
19,299 visits/mo
0.1 miles
BP
Shops & Services
19,220 visits/mo
0.3 miles
Chase Bank
Shops & Services
17,351 visits/mo
0.1 miles
Burger King
Dining
12,433 visits/mo
0.3 miles
Popeyes Louisiana Kitchen
Dining
11,640 visits/mo
0.3 miles
Demographics for 11419, NY
47,430
Population
13,607
Households
3.5
Avg Household Size
39
Median Age
21%
College-Educated
73%
High-School Grad
1.1 sq mi
ZIP Area
43,118
Density / Sq Mi
$91,231
Median Household Income
$41,091
Median Earnings
$1,920
Median Rent
$678,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner building with separate utility metering and convenient access to subway service.
Where is this mixed-use property located?
The property is located at 120-20 Liberty Avenue Richmond Hill, NY.
What is the asking price?
The asking price for this property is $2,980,000.
What are key features of this property?
This property features: 3 commercial and 3 residential tenants; 6 units, fully occupied; Separate meters for the property
