Three-Level Mixed-Use Commercial
For Sale
$2,260,000
10607 Northern Blvd 1A, Queens, NY 11368
Storefront configuration includes loading access and a private driveway.
Property Size4,665 SF
Days on Market78
Property Features for 10607 Northern Blvd 1A
General Information
Standard status
Active
Size
4,665 SF
Property subtype
Commercial
Site & Location
Frontage
38 ft
Road Access
Yes
Additional Details
Floor
Ground, Second, Basement
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$28,774
Amenities
curb cut for loading
private multiple cars driveway
Building Details
Building Size
4,665 SF
Year Built
2015
Stories
3
Listing Agency:
(917) 386-7888
Listed By:
Na Lin
(917) 386-7888
Source:
Elliman
Added: Jun 15
Changed: Aug 29
Last Checked: Aug 30 at 5:19PM
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 Na Lin
Investment Insights
Based on property information with market context.
This three-level mixed-use commercial unit at 10607 Northern Blvd 1A in Queens provides 5,905 square feet across a ground floor, second floor, and finished basement. The ground level contains 2,693 square feet with storefront frontage ranging from 25 to 38 feet. The second floor adds 1,537 square feet, while the finished basement provides 1,675 square feet. A curb cut supports pull-up loading access, and the property includes a private driveway measuring 23 by 100 feet.
Built in 2015, the property is located in Corona, NY. WalkScore is 89, indicating a very walkable setting; TransitScore is 85, rated excellent transit; and BikeScore is 70, rated very bikeable. The address places the unit on Northern Blvd within the Corona and Willets Point area.
Built in 2015, the property is located in Corona, NY. WalkScore is 89, indicating a very walkable setting; TransitScore is 85, rated excellent transit; and BikeScore is 70, rated very bikeable. The address places the unit on Northern Blvd within the Corona and Willets Point area.
Key Highlights
- 5,905 SF across three commercial levels
- Ground floor: 2,693 sq. ft. with 25'-38' storefront frontage
- Second floor: 1,537 sq. ft.
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
$153,590
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
6.80%
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%
$3,071,800
$3.1M
Cap Rate 7%
$2,194,143
$2.2M
Cap Rate 9%
$1,706,556
$1.7M
Market Conditions
NOI Build-Up for 4,665 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
$235.1K $50.40/SF
− Vacancy
−$30.3K −$6.50/SF
EGI
$204.8K $43.90/SF
− OpEx
−$51.2K −$10.97/SF
NOI
$153.6K $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%
$3,071,800
Cap Rate 7%
$2,194,143
Cap Rate 9%
$1,706,556
Alternative Uses
Best Use
Office B
$2.19M
$1.92M – $2.56M
NOI $153,590 @ 7.0% cap · market cap 6.80%
Second Best
Retail
$1.19M
$1.04M – $1.39M
NOI $83,270 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$3.44M
$3.01M – $4.01M
NOI $240,736 @ 7.0% cap · market cap 10.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,612
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 - Storefront configuration includes loading access and a private driveway.
Where is this mixed-use property located?
The property is located at 10607 Northern Blvd 1A Queens, NY.
What is the asking price?
The asking price for this property is $2,260,000.
What are key features of this property?
This property features: 5,905 SF across three commercial levels; Ground floor: 2,693 sq. ft. with 25'-38' storefront frontage; Second floor: 1,537 sq. ft.
