Building Details

Building Size 2,640 SF

Year Built 1920

Units 3

Listing Agency: Rixel Real Estate Inc

Listed By: Brian S. Mannie · License #10311210288 Show Phone

Source: Elliman

Added: Dec 3, 2025 Changed: Sep 24 Last Checked: Oct 5 at 4:14PM

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Investment Insights

Based on property information with market context.

This mixed-use property is located in Saint Albans and features one commercial storefront and two residential apartments. The storefront offers visibility and is suited for retail or owner use. The upper floor includes two residential units that are well-maintained. Each unit has separate utilities. The landlord is responsible for building insurance and hot water. The property is situated near major roadways, shopping, and public transportation. This property is suitable for owner-users or investors seeking an income-producing property in Queens.

Key Highlights

• Mixed‑use property with commercial storefront and two residential apartments.
• Prime location in the heart of Saint Albans, near major roadways, shopping, and public transportation.
• Commercial storefront offers great visibility, ideal for retail or owner use.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$64,533

Cap Rate

4.78%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,290,660 $1.3M

Cap Rate 7%

$921,900 $921.9K

Cap Rate 9%

$717,033 $717.0K

Market Conditions

NOI Build-Up for 2,640 SF

Gross rent

$122.0K $46.20/SF

− Vacancy

−$4.6K −$1.76/SF

EGI

$117.3K $44.44/SF

− OpEx

−$52.8K −$20.00/SF

NOI

$64.5K $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%

$1,290,660

Cap Rate 7%

$921,900

Cap Rate 9%

$717,033

Alternative Uses

Best Use

Apartment 5plus

$921.9K

$806.7K – $1.08M (±1% cap)

NOI $64,533 @ 7.0% cap · market cap 4.78%

Second Best

Retail

$673.2K

$589.1K – $785.4K (±1% cap)

NOI $47,124 @ 7.0% cap · market cap 3.49%

Theoretical Best

Office A

$1.95M

$1.70M – $2.27M (±1% cap)

NOI $136,237 @ 7.0% cap · market cap 10.09%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Storefront properties

Suggested Use

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

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

Location Intelligence

Trade Area within ½ mile

1,525

Businesses Nearby

Explore this area Business Placement

Demographics for 11412, NY

37,958

Population

12,821

Households

3

Avg Household Size

41

Median Age

25%

College-Educated

89%

High-School Grad

1.6 sq mi

ZIP Area

23,724

Density / Sq Mi

$98,418

Median Household Income

$48,243

Median Earnings

$1,630

Median Rent

$633,800

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Mixed-use property with storefront and two apartments in Queens.

Where is this mixed-use property located?

The property is located at 109-07 Farmers Blvd Queens, NY.

What is the asking price?

The asking price for this property is $1,350,000.

What are key features of this property?

This property features: Mixed‑use property with commercial storefront and two residential apartments.; Prime location in the heart of Saint Albans, near major roadways, shopping, and public transportation.; Commercial storefront offers **great visibility, ideal for retail or owner use.**