Mixed-Use Building with Office
For Sale
$1,399,000
132-10 Crossbay Blvd, New York, NY 11417
Fully leased retail anchors the ground floor, while the upper level provides office space with a kitchenette and bathroom.
Property Size2,476 SF
Price / SF$565.02
Days on Market108
Property Features for 132-10 Crossbay Blvd
General Information
Standard status
Active
Size
2,476 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$8,500
Amenities
shared driveway
detached garage
kitchenette
3
Parking.
Open Parking, Shared Driveway, Garage.
Building Details
Year Built
1931
Buildings
1
Construction
brick
Listing Agency:
Connexion I Rl Est Svcs Inc
(718) 845-1136
Listed By:
Patricia Stola · License #10301201946
(718) 845-1136
Source:
Xome
Added: May 17
Changed: Aug 31
Last Checked: Aug 31 at 3:21PM
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 Connexion I Rl Est Svcs Inc
Investment Insights
Based on property information with market context.
This 2,476-square-foot mixed-use building combines an income-producing retail component with upper-level professional office space. The ground floor is fully leased to an established deli. Above, the space has been adapted from its original two-apartment configuration for office use and includes a kitchenette and bathroom.
Constructed in 1931, the property features solid all-brick construction. Exterior features include open parking, a shared driveway, and a detached garage. The building is located at 132-10 Crossbay Boulevard in New York, NY 11417, with access to shopping and major roadways.
Constructed in 1931, the property features solid all-brick construction. Exterior features include open parking, a shared driveway, and a detached garage. The building is located at 132-10 Crossbay Boulevard in New York, NY 11417, with access to shopping and major roadways.
Key Highlights
- 2,476‑square‑foot mixed‑use building
- Fully leased ground‑floor retail occupied by an established deli
- Upper level converted from two apartments to professional office space
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
$78,923
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
5.64%
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%
$1,578,460
$1.6M
Cap Rate 7%
$1,127,471
$1.1M
Cap Rate 9%
$876,922
$876.9K
Market Conditions
NOI Build-Up for 2,476 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
$148.6K $60.00/SF
− Vacancy
−$22.3K −$9.00/SF
EGI
$126.3K $51.00/SF
− OpEx
−$47.4K −$19.13/SF
NOI
$78.9K $31.88/SF
Area
New York, NY
Vacancy
15.00%
Lease Rate
$60.00 /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%
$1,578,460
Cap Rate 7%
$1,127,471
Cap Rate 9%
$876,922
Alternative Uses
Best Use
Retail
$4.98M
$4.36M – $5.81M
NOI $348,434 @ 7.0% cap · market cap 24.91%
Second Best
Mixed Use
$1.13M
$986.5K – $1.32M
NOI $78,923 @ 7.0% cap · market cap 5.64%
Theoretical Best
Specialty Retail
$6.16M
$5.39M – $7.19M
NOI $431,418 @ 7.0% cap · market cap 30.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,922
Businesses Nearby
Explore this area
Business Placement
Demographics for 11417, NY
31,229
Population
9,855
Households
3.2
Avg Household Size
38
Median Age
25%
College-Educated
78%
High-School Grad
1.1 sq mi
ZIP Area
28,390
Density / Sq Mi
$86,330
Median Household Income
$42,193
Median Earnings
$1,853
Median Rent
$731,900
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 - Fully leased retail anchors the ground floor, while the upper level provides office space with a kitchenette and bathroom.
Where is this mixed-use property located?
The property is located at 132-10 Crossbay Blvd New York, NY.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: 2,476‑square‑foot mixed‑use building; Fully leased ground‑floor retail occupied by an established deli; Upper level converted from two apartments to professional office space
