Restaurant Building with Parking
For Sale
$2,499,000
139-20 243rd Street, Rosedale, NY 11422
The building includes central air conditioning and a finished full basement.
Property Size2,625 SF
Days on Market49
Property Features for 139-20 243rd Street
General Information
Standard status
Active
Size
2,625 SF
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$26,756
Amenities
Central Air
Natural Gas
Finished, Full
Parking Lot
Building Details
Building Size
2,625 SF
Year Built
1949
Buildings
1
Listing Agency:
RE/MAX SOUTHSHOREREALTY
Listed By:
Laxshmi Sookraj-Mohamed
(516) 444-1423
Source:
Evrealestate
Added: Aug 18
Changed: Oct 3
Last Checked: Oct 4 at 8:54AM
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 RE/MAX SOUTHSHOREREALTY
Investment Insights
Based on property information with market context.
This restaurant property includes central air conditioning, natural gas service, and a finished full basement. The building dates to 1949 and has an on-site parking lot.
The property is at 139-20 243rd Street in Rosedale, Queens. Access directions run from Sunrise Highway to 243rd Street.
The property is at 139-20 243rd Street in Rosedale, Queens. Access directions run from Sunrise Highway to 243rd Street.
Key Highlights
- Restaurant property with on‑site parking lot
- Central air conditioning and natural gas service
- Finished full basement
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
$121,492
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
4.86%
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%
$2,429,840
$2.4M
Cap Rate 7%
$1,735,600
$1.7M
Cap Rate 9%
$1,349,911
$1.3M
Market Conditions
NOI Build-Up for 2,625 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
$173.3K $66.00/SF
− Vacancy
−$11.3K −$4.29/SF
EGI
$162.0K $61.71/SF
− OpEx
−$40.5K −$15.43/SF
NOI
$121.5K $46.28/SF
Area
Queens County, NY
Vacancy
6.50%
Lease Rate
$66.00 /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%
$2,429,840
Cap Rate 7%
$1,735,600
Cap Rate 9%
$1,349,911
Alternative Uses
Best Use
Specialty Retail
$1.74M
$1.52M – $2.02M
NOI $121,492 @ 7.0% cap · market cap 4.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.94M
$1.69M – $2.26M
NOI $135,463 @ 7.0% cap · market cap 5.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
847
Businesses Nearby
1k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Minuteman Press
Shops & Services
1,118 visits/mo
0.3 miles
Demographics for 11422, NY
32,839
Population
10,694
Households
3.1
Avg Household Size
41
Median Age
33%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
15,638
Density / Sq Mi
$108,519
Median Household Income
$51,788
Median Earnings
$2,327
Median Rent
$629,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - The building includes central air conditioning and a finished full basement.
Where is this conventional restaurant located?
The property is located at 139-20 243rd Street Rosedale, NY.
What is the asking price?
The asking price for this property is $2,499,000.
What are key features of this property?
This property features: Restaurant property with on‑site parking lot; Central air conditioning and natural gas service; Finished full basement
