Retail Property Near M
For Sale
$2,800,000
18-14/16 Putnam Ave, Queens, NY 11385
Retail property near transportation and retail with development potential.
Property Size5,000 SF
Days on Market267
Property Features for 18-14/16 Putnam Ave
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$35,082
Building Details
Building Size
5,000 SF
Year Built
1931
Stories
1
Units
1
Listing Agency:
APPLE REALTY GROUP CORP
(718) 888-2965
Listed By:
Fan Yang · License #998297
(718) 888-2965
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 8
Last Checked: Aug 20 at 8:46AM
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 APPLE REALTY GROUP CORP
Investment Insights
Based on property information with market context.
This retail property presents a business opportunity to invest in or run a Laundry Max business, with possible owner financing available. Located in an R6B/C1-4 zoning district, the property offers development potential. The location is near various retail stores and popular restaurants, and is steps from the M train station.
Key Highlights
- Business opportunity: Laundry Max business with potential for owner financing.
- R6B/C1‑4 zoning district offering great development potential.
- Excellent location near retail stores and restaurants.
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
$89,250
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
3.19%
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%
$1,785,000
$1.8M
Cap Rate 7%
$1,275,000
$1.3M
Cap Rate 9%
$991,667
$991.7K
Market Conditions
NOI Build-Up for 5,000 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
$150.0K $30.00/SF
− Vacancy
−$22.5K −$4.50/SF
EGI
$127.5K $25.50/SF
− OpEx
−$38.3K −$7.65/SF
NOI
$89.3K $17.85/SF
Area
Queens County, NY
Vacancy
15.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,785,000
Cap Rate 7%
$1,275,000
Cap Rate 9%
$991,667
Alternative Uses
Best Use
Retail
$1.27M
$1.12M – $1.49M
NOI $89,250 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.69M
$3.23M – $4.30M
NOI $258,024 @ 7.0% cap · market cap 9.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,275
Businesses Nearby
120k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 52%
Dining 29%
Shops & Services 19%
Stop & Shop
Groceries
45,201 visits/mo
0.2 miles
McDonald's
Dining
29,902 visits/mo
0.5 miles
Key Food
Groceries
16,993 visits/mo
0.5 miles
Chase Bank
Shops & Services
10,079 visits/mo
0.4 miles
BP
Shops & Services
9,090 visits/mo
0.1 miles
Demographics for 11385, NY
100,883
Population
40,175
Households
2.5
Avg Household Size
36
Median Age
34%
College-Educated
84%
High-School Grad
3.6 sq mi
ZIP Area
28,023
Density / Sq Mi
$87,365
Median Household Income
$47,335
Median Earnings
$1,959
Median Rent
$842,800
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?
Retail space - Retail property near transportation and retail with development potential.
Where is this retail space located?
The property is located at 18-14/16 Putnam Ave Queens, NY.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Business opportunity: Laundry Max business with potential for owner financing.; R6B/C1‑4 zoning district offering great development potential.; Excellent location near retail stores and restaurants.
