Mixed-Use Investment Property in
For Sale
$3,800,000
10114 39th Ave, Queens, NY 11368
Well-maintained mixed-use property with diversified income streams and upside.
Property Size6,495 SF
Days on Market109
Property Features for 10114 39th Ave
General Information
Standard status
Active
Size
6,495 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$11,457
Building Details
Building Size
6,495 SF
Year Built
2012
Units
8
Listing Agency:
Lin Pan Realty Group LLC
(646) 785-1699
Listed By:
Qian Huang
(646) 785-1699
Source:
Elliman
Added: Apr 24
Changed: Aug 8
Last Checked: Aug 10 at 5:23AM
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 Lin Pan Realty Group LLC
Investment Insights
Based on property information with market context.
This well-maintained mixed-use investment property offers stable cash flow in a convenient neighborhood near public transportation, retail, and dining. The property includes one medical office on the ground floor and seven residential units, along with rooftop lease income. The first floor features a medical office and a one-bedroom unit with a large backyard. The second, third, and fourth floors each contain two one-bedroom apartments. The rooftop is leased to a telecommunications company, generating additional income. The property generates approximately $270,704 in annual gross operating income, with estimated operating expenses of about $26,570, resulting in a Net Operating Income (NOI) of approximately $244,134 annually. Situated between Corona and Flushing, the property benefits from rental demand, proximity to major transportation routes, neighborhood retail corridors, and easy access to Manhattan. The bike score is 77, indicating it is very bikeable. The walk score is 97, indicating it is a walker's paradise. The transit score is 88, indicating excellent transit.
Key Highlights
- High Net Operating Income (NOI) of approximately $244,134 annually
- Diversified income streams from medical office, residential units, and rooftop lease
- Excellent location with a Walk Score of 97 and Transit Score of 88, close to transportation, retail, and dining
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
$213,840
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
5.63%
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%
$4,276,800
$4.3M
Cap Rate 7%
$3,054,857
$3.1M
Cap Rate 9%
$2,376,000
$2.4M
Market Conditions
NOI Build-Up for 6,495 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
$327.3K $50.40/SF
− Vacancy
−$42.2K −$6.50/SF
EGI
$285.1K $43.90/SF
− OpEx
−$71.3K −$10.97/SF
NOI
$213.8K $32.92/SF
Area
Queens County, NY
Vacancy
12.90%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
25.00%
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%
$4,276,800
Cap Rate 7%
$3,054,857
Cap Rate 9%
$2,376,000
Alternative Uses
Best Use
Office B
$3.05M
$2.67M – $3.56M
NOI $213,840 @ 7.0% cap · market cap 5.63%
Second Best
Apartment 5plus
$2.27M
$1.98M – $2.65M
NOI $158,767 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$4.79M
$4.19M – $5.59M
NOI $335,173 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,556
Businesses Nearby
Explore this area
Business Placement
Demographics for 11368, NY
117,110
Population
31,165
Households
3.8
Avg Household Size
34
Median Age
14%
College-Educated
65%
High-School Grad
2.6 sq mi
ZIP Area
45,042
Density / Sq Mi
$71,798
Median Household Income
$33,742
Median Earnings
$1,925
Median Rent
$751,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Well-maintained mixed-use property with diversified income streams and upside.
Where is this mixed-use property located?
The property is located at 10114 39th Ave Queens, NY.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: High Net Operating Income (NOI) of approximately $244,134 annually; Diversified income streams from medical office, residential units, and rooftop lease; Excellent location with a Walk Score of 97 and Transit Score of 88, close to transportation, retail, and dining
