Building Details

Building Size 3,760 SF

Year Built 1931

Buildings 1

Units 4

Tenancy Multi

Listing Agency: Voro LLC

Listed By: Eric Santiago Show Phone

Source: Georgemcknight

Added: Oct 23 Changed: Oct 24 Last Checked: Oct 24 at 2:42PM

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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 Voro LLC

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Investment Insights

Based on property information with market context.

At 121-19 Sutphin Boulevard, this renovated mixed-use building contains four units: a retail storefront and three residential apartments. The apartments include one three-bedroom layout and two two-bedroom layouts, for a total of seven bedrooms and four bathrooms. The property was built in 1931 and features 12-foot ceilings and a large finished basement.

All four units are vacant. Based on estimated market rents, projected gross annual income is stated to exceed $160,000, with an estimated capitalization rate of approximately 12% at full occupancy.

Key Highlights

• Four renovated units: one retail storefront and three apartments
• Residential mix includes one three‑bedroom apartment and two two‑bedroom apartments
• Seven bedrooms and four bathrooms across the building

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$91,911

Cap Rate

7.12%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,838,220 $1.8M

Cap Rate 7%

$1,313,014 $1.3M

Cap Rate 9%

$1,021,233 $1.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,760 SF

Gross rent

$173.7K $46.20/SF

− Vacancy

−$6.6K −$1.76/SF

EGI

$167.1K $44.44/SF

− OpEx

−$75.2K −$20.00/SF

NOI

$91.9K $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 Rate 5%

$1,838,220

Cap Rate 7%

$1,313,014

Cap Rate 9%

$1,021,233

Alternative Uses

Best Use

Apartment 5plus

$1.31M

$1.15M – $1.53M (±1% cap)

NOI $91,911 @ 7.0% cap · market cap 7.12%

Second Best

Retail

$958.8K

$839.0K – $1.12M (±1% cap)

NOI $67,116 @ 7.0% cap · market cap 5.20%

Theoretical Best

Office A

$2.77M

$2.43M – $3.23M (±1% cap)

NOI $194,034 @ 7.0% cap · market cap 15.04%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Law Firm Real Estate Agency Dental Office Skin Care Clinic Gym & Fitness Center Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

5,544

Businesses Nearby

Explore this area Business Placement

Demographics for 11434, NY

66,964

Population

23,787

Households

2.8

Avg Household Size

40

Median Age

22%

College-Educated

87%

High-School Grad

3.2 sq mi

ZIP Area

20,926

Density / Sq Mi

$76,668

Median Household Income

$46,742

Median Earnings

$1,409

Median Rent

$585,600

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Four renovated, vacant units comprise one retail space and three apartments.

Where is this mixed-use property located?

The property is located at 121-19 Sutphin Boulevard Jamaica, NY.

What is the asking price?

The asking price for this property is $1,290,000.

What are key features of this property?

This property features: Four renovated units: one retail storefront and three apartments; Residential mix includes one three‑bedroom apartment and two two‑bedroom apartments; Seven bedrooms and four bathrooms across the building