Building Details

Building Size 2,476 SF

Year Built 1931

Buildings 1

Stories 2

Construction brick

Listing Agency: Connexion I Rl Est Svcs Inc Show Phone

Listed By: Aman Deep Sabharwal

Source: Hedgestonehomes

Added: Oct 21 Changed: Oct 28 Last Checked: Oct 28 at 4:19PM

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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

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 2,476-square-foot, all-brick mixed-use building was constructed in 1931. The ground-floor retail space is leased to a deli. Above it, an area once arranged as two apartments has been converted to professional office space, with a kitchenette and bathroom.

The property includes a detached garage and shared driveway, with access from Cross Bay Boulevard. The upper floor’s prior apartment configuration is a documented feature of the building.

Key Highlights

• 2,476‑square‑foot mixed‑use building
• Ground‑floor retail space leased to a deli
• Upper level converted from a two‑apartment layout to professional office space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$81,519

Cap Rate

5.83%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,630,380 $1.6M

Cap Rate 7%

$1,164,557 $1.2M

Cap Rate 9%

$905,767 $905.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,476 SF

Gross rent

$124.8K $50.40/SF

− Vacancy

−$16.1K −$6.50/SF

EGI

$108.7K $43.90/SF

− OpEx

−$27.2K −$10.97/SF

NOI

$81.5K $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 Rate 5%

$1,630,380

Cap Rate 7%

$1,164,557

Cap Rate 9%

$905,767

Alternative Uses

Best Use

Office B

$1.16M

$1.02M – $1.36M (±1% cap)

NOI $81,519 @ 7.0% cap · market cap 5.83%

Second Best

Retail

$631.4K

$552.5K – $736.6K (±1% cap)

NOI $44,197 @ 7.0% cap · market cap 3.16%

Theoretical Best

Office A

$1.83M

$1.60M – $2.13M (±1% cap)

NOI $127,773 @ 7.0% cap · market cap 9.13%

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

Retail space

Suggested Use

Top Pick Law Firm Parking Lot & Garage Skin Care Clinic Gym & Fitness Center Acupuncture (Bike/Boat/Book/etc) Store

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

1

Office units

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

2,379

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

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - A professional office occupies the upper level, with a kitchenette and bathroom.

Where is this mixed-use property located?

The property is located at 132-10 Crossbay Boulevard Ozone Park, 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; Ground‑floor retail space leased to a deli; Upper level converted from a two‑apartment layout to professional office space