Elmhurst Mixed-Use Investment
For Sale
$1,288,000
9106 43rd Ave, Queens, NY 11373
Mixed-use property with commercial and residential units in Elmhurst.
Property Size3,240 SF
Days on Market146
Property Features for 9106 43rd Ave
General Information
Standard status
Active
Size
3,240 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$34,465
Building Details
Building Size
3,240 SF
Year Built
1931
Units
3
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Jack Rothstein · License #10301224020
(718) 819-4119
Source:
Elliman
Added: Apr 24
Changed: Sep 15
Last Checked: Sep 15 at 7:25AM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This mixed-use property is situated on a well-trafficked section of 43rd Avenue in Elmhurst. The brick building includes a ground-floor restaurant space and two residential units. The commercial unit has street visibility. The second-floor unit contains two bedrooms, and the third-floor unit has three bedrooms. The commercial unit can generate approximately $8,400 per month. Projected rents for the residential units range from $2,300 to $4,000 for the 2-bedroom unit and $3,500 to $5,000 for the 3-bedroom unit, depending on the level of renovation. The property is located near transportation options, restaurants, and neighborhood amenities. The location has a bike score of 75, indicating it is very bikeable, a walk score of 88, indicating it is very walkable, and a transit score of 71, indicating excellent transit options.
Key Highlights
- Prime mixed‑use property in a high‑traffic Elmhurst location with established retail and residential density.
- Multiple income streams from ground‑floor restaurant and two residential units.
- Strong income potential with commercial unit generating $8,400/month and residential units projecting $2,300-$5,000/month.
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
$41,699
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
3.24%
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%
$833,980
$834.0K
Cap Rate 7%
$595,700
$595.7K
Cap Rate 9%
$463,322
$463.3K
Market Conditions
NOI Build-Up for 3,240 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
$77.8K $24.00/SF
− Vacancy
−$11.0K −$3.41/SF
EGI
$66.7K $20.59/SF
− OpEx
−$25.0K −$7.72/SF
NOI
$41.7K $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 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%
$833,980
Cap Rate 7%
$595,700
Cap Rate 9%
$463,322
Alternative Uses
Best Use
Mixed Use
$595.7K
$521.2K – $695.0K
NOI $41,699 @ 7.0% cap · market cap 3.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.39M
$2.09M – $2.79M
NOI $167,200 @ 7.0% cap · market cap 12.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,847
Businesses Nearby
Explore this area
Business Placement
Demographics for 11373, NY
105,712
Population
34,797
Households
3
Avg Household Size
38
Median Age
30%
College-Educated
75%
High-School Grad
1.5 sq mi
ZIP Area
70,475
Density / Sq Mi
$71,470
Median Household Income
$36,043
Median Earnings
$1,913
Median Rent
$683,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with commercial and residential units in Elmhurst.
Where is this mixed-use property located?
The property is located at 9106 43rd Ave Queens, NY.
What is the asking price?
The asking price for this property is $1,288,000.
What are key features of this property?
This property features: Prime mixed‑use property in a high‑traffic Elmhurst location with established retail and residential density.; Multiple income streams from ground‑floor restaurant and two residential units.; Strong income potential with commercial unit generating $8,400/month and residential units projecting $2,300-$5,000/month.
