Retail Building with Air
For Sale
Contact for pricing
Pending
135-26 Desarc Rd, Ozone Park, NY 11417
Retail building in Ozone Park with significant air rights.
Property Size16,750 SF
Lot Size0.38 Acres
Days on Market1786
Property Features for 135-26 Desarc Rd
General Information
Standard status
Pending
Size
16,750 SF
Lot size
0.38 Acres
Property subtype
Retail
Zoning
R5D, C2-3
Occupancy
80%
Lease Type
Net
Investment Type
Net Lease
Net Operating Income
$475,000
Building Details
Stories
2
Units
6
Tenancy
Multi
Listing Agency:
East Coast Realtors
(718) 428-2900
Listed By:
Tony Hack · License #NY 10301214951
Source:
Crexi
Added: Oct 1, 2021
Changed: Aug 11
Last Checked: Aug 19 at 7:32PM
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 East Coast Realtors
Investment Insights
Based on property information with market context.
This retail building, located in Ozone Park, features three floors and a floor-through basement gym. The property is situated off Cross Bay Boulevard, providing convenient access to major highways. The building has a size of 14,730 square feet and is situated on a 16,750 square foot lot. The zoning is R5D, C2-3, allowing for a usable square footage of 33,500. Included in the sale are 18,760 square feet of unused residential air rights. The property offers income generation potential. According to the listing, 80% of the tenants have occupied the building for over 10 years. The property is suitable for retail use and offers excellent ROI possibilities.
Key Highlights
- Substantial unused residential air rights (18,760 SF) included, offering significant development potential.
- Prime Ozone Park location, right off Cross Bay Blvd, near major highways.
- Existing retail building generates income while offering redevelopment opportunities.
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
$298,988
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
3.83%
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%
$5,979,760
$6.0M
Cap Rate 7%
$4,271,257
$4.3M
Cap Rate 9%
$3,322,089
$3.3M
Market Conditions
NOI Build-Up for 16,750 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
$502.5K $30.00/SF
− Vacancy
−$75.4K −$4.50/SF
EGI
$427.1K $25.50/SF
− OpEx
−$128.1K −$7.65/SF
NOI
$299.0K $17.85/SF
Area
Queens County, NY
Vacancy
15.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
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%
$5,979,760
Cap Rate 7%
$4,271,257
Cap Rate 9%
$3,322,089
Alternative Uses
Best Use
Retail
$4.27M
$3.74M – $4.98M
NOI $298,988 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.35M
$10.80M – $14.41M
NOI $864,380 @ 7.0% cap · market cap 11.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,650
Businesses Nearby
7k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Bank of America
Shops & Services
6,797 visits/mo
0.5 miles
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail building in Ozone Park with significant air rights.
Where is this retail space located?
The property is located at 135-26 Desarc Rd Ozone Park, NY.
What is the asking price?
The asking price for this property is $7,799,000.
What are key features of this property?
This property features: Substantial unused residential air rights (18,760 SF) included, offering significant development potential.; Prime Ozone Park location, right off Cross Bay Blvd, near major highways.; Existing retail building generates income while offering redevelopment opportunities.
