Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    230-06 S Conduit Ave Springfield Gardens, NY 11413

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $950,000

    Restaurant building for sale, can be sold as package deal.

    Property Features for 230-06 S Conduit Ave

    General Information

    Standard status
    Active

    Building Details

    Year built
    1930

    We can help!

    Listing Contact
    Dinesh Prasad
    Source: Exitrealty

    Listing Agency: Hayliam Realty LLC Listing Agent: Dinesh Prasad

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Restaurant Building For Sale

    The property is a building currently used as a restaurant and is for sale. It can be sold as a package deal with the properties located at 230-04 and 230-08 S. Conduit Ave.
    Location Intelligence

    Current Use by Public Records

    Breezes Island Grill ... Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Springfield Gardens
    County
    Queens
    State
    New York
    Longitude
    -73.854827
    Latitude
    40.672305

    Nearby Similar for Sale

    • $999,000
      Pending

      Two-Family Home, Springfield Gardens

      Newly built two-family home with rental potential in Springfield Gardens.
      14027 Coombs St, Springfield Gardens, NY 11413
      View Details
    • $989,000
      0.07 Acres

      Springfield Gardens Multifamily Investment Opportunity

      Two units, convenient location, ideal for investors.
      146-15 221St St, Springfield Gardens, NY 11413
      View Details
    • New
      $649,999
      0.02 Acres

      Two-Family Home in Springfield Gardens

      Classic two-family brick residence in Springfield Gardens, Queens.
      12222 Nellis St, Springfield Gardens, NY 11413
      View Details
    • New
      $919,000
      0.09 Acres

      Renovated Duplex in Springfield Gardens

      Fully renovated 2-over-2 duplex with income potential and flexibility.
      147-15 223Rd St, Springfield Gardens, NY 11413
      View Details
    • New
      $1,198,000

      Renovated Two-Family Home

      Legal two-family home in Springfield Gardens, fully renovated.
      143-14 222Nd St, Springfield Gardens, NY 11413
      View Details
    • $1,099,000
      0.06 Acres

      Two-Family Property in Springfield Gardens

      Well-maintained two-family property with strong rental income potential.
      14746 223Rd St, Springfield Gardens, NY 11413
      View Details
    • New
      $940,000
      0.06 Acres

      Springfield Gardens Colonial Multi-Family Home

      Multi-family home with 5 bedrooms and 2 full baths.
      140-33 Coombs St, Springfield Gardens, NY 11413
      View Details
    • $850,000
      Pending

      Springfield Gardens Detached Corner Property

      Two-family detached corner property with a finished basement and garage.
      221-20 137Th Ave, Springfield Gardens, NY 11413
      View Details
    • $1,295,000
      Pending

      Modern Two-Family Home, Springfield Gardens

      Modern 2-family home with finished basement, close to amenities.
      14411 223Rd St, Springfield Gardens, NY 11413
      View Details
    • New
      $1,099,000
      1,720 SF

      Springfield Gardens Two-Family Home

      Remodeled two-family home with six bedrooms and finished basement.
      147-15 225Th St, Springfield Gardens, NY 11413
      View Details
    • $1,149,999
      0.09 Acres

      Springfield Gardens Two-Family Home

      Two spacious units near schools, LIRR, shopping, and parks.
      144-37 223Rd St, Springfield Gardens, NY 11413
      View Details
    • New
      $1,001,000
      0.23 Acres

      Multi-Family Home in Springfield Gardens

      Multi-family home featuring 6 bedrooms and 4 full baths.
      146-66 222Nd St, Springfield Gardens, NY 11413
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Restaurant building for sale, can be sold as package deal.
    Where is this conventional restaurant located?
    The property is located at 230-06 S Conduit Ave Springfield Gardens, NY.
    What is the asking price?
    The asking price for this property is $950,000.
    What are key features of this property?
    This property features: - Building for sale, currently used as a restaurant.; - Built in 1930.; - Can be sold as a package deal.
    (646) 529-5240
    Request Owner's contact information
    230-06 S Conduit Ave Springfield Gardens, NY 11413
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    230-06 S Conduit Ave
    Springfield Gardens, NY 11413
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    230-06 S Conduit Ave Springfield Gardens, NY 11413
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Dinesh Prasad
    Real Estate License ID: 10491212458
    (646) 529-5240
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!