Five-Unit Mixed-Use
For Sale
$1,800,000
12802 Rockaway Boulevard, South Ozone Park, NY 11420
Two-story corner property with garage, apartments, commercial space, R3-2/C1-2 zoning, and CAC.
Property Size3,300 SF
Days on Market261
Property Features for 12802 Rockaway Boulevard
General Information
Standard status
Active
Size
3,300 SF
Property subtype
Commercial
Zoning
R3-2/C1-2
Site & Location
Corner Location
Yes
Traffic Count
14,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$21,906
Amenities
high ceilings
garage
LED lighting
CAC
Building Details
Building Size
3,300 SF
Year Built
1920
Buildings
1
Stories
2
Listing Agency:
All Island Estates Realty Corp
(516) 279-8828
Listed By:
Richard Matt Shane · License #10301216230
(516) 279-8828
Source:
Maurafinnegan
Added: Dec 12, 2025
Changed: Aug 28
Last Checked: Aug 29 at 10:18AM
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 All Island Estates Realty Corp
Investment Insights
Based on property information with market context.
This two-story mixed-use property contains five units, including two apartments, and includes a garage. The building has high ceilings, CAC, and new LED lighting. Its R3-2/C1-2 zoning supports the property’s mixed-use classification, while signage and the corner configuration add practical exposure for occupants and operators.
The property is positioned at 12802 Rockaway Boulevard in South Ozone Park, with 21 feet of frontage along Rockaway Boulevard and 102 feet along 128th Street. I-678 is located eight blocks away, and JFK Airport is minutes from the site. Reported daily traffic exceeds 14,000 vehicles, with nearby businesses including Citibank, Hilton Hotels, FedEx, UPS, Home Depot, Stop & Shop, AutoZone, Dunkin’, Wendy’s, and Lowe’s Home Improvement.
Built in 1920, the property combines residential and commercial components with a garage and prominent corner positioning.
The property is positioned at 12802 Rockaway Boulevard in South Ozone Park, with 21 feet of frontage along Rockaway Boulevard and 102 feet along 128th Street. I-678 is located eight blocks away, and JFK Airport is minutes from the site. Reported daily traffic exceeds 14,000 vehicles, with nearby businesses including Citibank, Hilton Hotels, FedEx, UPS, Home Depot, Stop & Shop, AutoZone, Dunkin’, Wendy’s, and Lowe’s Home Improvement.
Built in 1920, the property combines residential and commercial components with a garage and prominent corner positioning.
Key Highlights
- Five‑unit mixed‑use building with two apartments and a garage
- R3‑2/C1‑2 zoning with two‑story configuration
- 21 feet of frontage on Rockaway Boulevard and 102 feet on 128th Street
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
$80,667
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
4.48%
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%
$1,613,340
$1.6M
Cap Rate 7%
$1,152,386
$1.2M
Cap Rate 9%
$896,300
$896.3K
Market Conditions
NOI Build-Up for 3,300 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
$152.5K $46.20/SF
− Vacancy
−$5.8K −$1.76/SF
EGI
$146.7K $44.44/SF
− OpEx
−$66.0K −$20.00/SF
NOI
$80.7K $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 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%
$1,613,340
Cap Rate 7%
$1,152,386
Cap Rate 9%
$896,300
Alternative Uses
Best Use
Apartment 5plus
$1.15M
$1.01M – $1.34M
NOI $80,667 @ 7.0% cap · market cap 4.48%
Second Best
Retail
$841.5K
$736.3K – $981.8K
NOI $58,905 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$2.43M
$2.13M – $2.84M
NOI $170,296 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
14,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,530
Businesses Nearby
Explore this area
Business Placement
Demographics for 11420, NY
47,383
Population
14,835
Households
3.2
Avg Household Size
40
Median Age
22%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
22,563
Density / Sq Mi
$98,584
Median Household Income
$45,571
Median Earnings
$2,032
Median Rent
$673,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story corner property with garage, apartments, commercial space, R3-2/C1-2 zoning, and CAC.
Where is this mixed-use property located?
The property is located at 12802 Rockaway Boulevard South Ozone Park, NY.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Five‑unit mixed‑use building with two apartments and a garage; R3‑2/C1‑2 zoning with two‑story configuration; 21 feet of frontage on Rockaway Boulevard and 102 feet on 128th Street
