Building Details

Building Size 2,304 SF

Year Built 1925

Buildings 1

Stories 2

Units 2

Tenancy Multi

Listing Agency: Winzone Realty Inc i***@winzonere.com Show Phone

Listed By: Ping Sang Cheng Show Phone

Source: Croninreale

Added: Sep 11 Changed: Oct 23 Last Checked: Oct 23 at 4:43PM

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Investment Insights

Based on property information with market context.

This 2,304-square-foot mixed-use property combines a ground-floor restaurant with a second-floor apartment. The residence has three bedrooms and one bathroom. A new roof and heating system are among the building’s recent capital improvements.

Built in 1925, the property is located at 131-07 Liberty Avenue in Richmond Hill, New York.

Key Highlights

• 2,304‑square‑foot mixed‑use building
• Ground‑floor restaurant with a second‑floor, 3‑bedroom, 1‑bath apartment
• New roof and heating system

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$29,652

Cap Rate

2.82%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$593,040 $593.0K

Cap Rate 7%

$423,600 $423.6K

Cap Rate 9%

$329,467 $329.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,304 SF

Gross rent

$55.3K $24.00/SF

− Vacancy

−$7.9K −$3.41/SF

EGI

$47.4K $20.59/SF

− OpEx

−$17.8K −$7.72/SF

NOI

$29.7K $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 Rate 5%

$593,040

Cap Rate 7%

$423,600

Cap Rate 9%

$329,467

Alternative Uses

Best Use

Specialty Retail

$1.52M

$1.33M – $1.78M (±1% cap)

NOI $106,635 @ 7.0% cap · market cap 10.16%

Second Best

Mixed Use

$423.6K

$370.7K – $494.2K (±1% cap)

NOI $29,652 @ 7.0% cap · market cap 2.82%

Theoretical Best

Office A

$1.70M

$1.49M – $1.98M (±1% cap)

NOI $118,897 @ 7.0% cap · market cap 11.32%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Conventional restaurants

Suggested Use

Top Pick Real Estate Agency Gym & Fitness Center Law Firm Acupuncture Skin Care Clinic Cafe & Coffee Shop

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

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

2,397

Businesses Nearby

125k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 40% Shops & Services 38% Groceries 15% Electronics 4%

Golden Farms Groceries

19,299 visits/mo 0.1 miles

BP Shops & Services

19,220 visits/mo 0.5 miles

Chase Bank Shops & Services

17,351 visits/mo 0.2 miles

Burger King Dining

12,433 visits/mo 0.4 miles

Popeyes Louisiana Kitchen Dining

11,640 visits/mo 0.4 miles

Demographics for 11419, NY

47,430

Population

13,607

Households

3.5

Avg Household Size

39

Median Age

21%

College-Educated

73%

High-School Grad

1.1 sq mi

ZIP Area

43,118

Density / Sq Mi

$91,231

Median Household Income

$41,091

Median Earnings

$1,920

Median Rent

$678,800

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - The upper level contains a three-bedroom apartment above a ground-floor restaurant.

Where is this mixed-use property located?

The property is located at 131-07 Liberty Avenue Richmond Hill, NY.

What is the asking price?

The asking price for this property is $1,050,000.

What are key features of this property?

This property features: 2,304‑square‑foot mixed‑use building; Ground‑floor restaurant with a second‑floor, 3‑bedroom, 1‑bath apartment; New roof and heating system