Mixed-Use Warehouse and Office
121-06 89th Avenue, Richmond Hill, NY 11418
For Sale
Contact for pricing
Warehouse and office space occupies a single commercial building in Richmond Hill.
Property Size5,910 SF
Price / SF$371.40
Days on Market47
Property Features for 121-06 89th Avenue
General Information
Standard status
Size
Property subtype
Additional Details
Property Use
Building Details
Buildings
Building Size
Listing Agency:
Knickerbocker Realty Group LLC
Listed By:
Jacques Wadler · License NY #10491208445
Source:
Crexi
Added: Sep 29
Changed: Nov 8
Last Checked: Nov 12 at 8:10AM
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 Knickerbocker Realty Group LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This mixed-use property combines warehouse and office space in a 5,910-square-foot building at 121-06 89th Avenue in Richmond Hill, Queens.
The property is two blocks from the 121st Street/Jamaica Avenue J and Z subway station, between 121st Street and 123rd Street.
The property is two blocks from the 121st Street/Jamaica Avenue J and Z subway station, between 121st Street and 123rd Street.
Key Highlights
- 5,910‑square‑foot warehouse and office building
- Two blocks from the 121st Street/Jamaica Avenue J and Z subway station
- Located between 121st Street and 123rd Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,062
Cap Rate
3.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,521,240
$1.5M
Cap Rate 7%
$1,086,600
$1.1M
Cap Rate 9%
$845,133
$845.1K
Market Conditions
NOI Build-Up for 5,910 SF
Gross rent
$141.8K $24.00/SF
− Vacancy
−$20.1K −$3.41/SF
EGI
$121.7K $20.59/SF
− OpEx
−$45.6K −$7.72/SF
NOI
$76.1K $12.87/SF
Area
Queens County, NY
Vacancy
14.20%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,521,240
Cap Rate 7%
$1,086,600
Cap Rate 9%
$845,133
Alternative Uses
Best Use
Mixed Use
$1.09M
$950.8K – $1.27M
NOI $76,062 @ 7.0% cap · market cap 3.47%
Second Best
Warehouse
$644.9K
$564.3K – $752.4K
NOI $45,146 @ 7.0% cap · market cap 2.06%
Theoretical Best
Office A
$4.36M
$3.81M – $5.08M
NOI $304,984 @ 7.0% cap · market cap 13.89%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,601
Businesses Nearby
Explore this area
Business Placement
Demographics for 11418, NY
37,596
Population
12,072
Households
3.1
Avg Household Size
37
Median Age
32%
College-Educated
81%
High-School Grad
1.7 sq mi
ZIP Area
22,115
Density / Sq Mi
$84,927
Median Household Income
$44,818
Median Earnings
$1,788
Median Rent
$772,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Mixed-use properties in Queens County, NY
Properties on Market for Mixed-use properties in Queens County
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Warehouse and office space occupies a single commercial building in Richmond Hill.
Where is this mixed-use property located?
The property is located at 121-06 89th Avenue Richmond Hill, NY.
What is the asking price?
The asking price for this property is $2,195,000.
What are key features of this property?
This property features: 5,910‑square‑foot warehouse and office building; Two blocks from the 121st Street/Jamaica Avenue J and Z subway station; Located between 121st Street and 123rd Street
