Retail Building with Loading
For Sale
$1,700,000
149-19 Centreville Street, Ozone Park, NY 11417
Vacant-at-closing retail property with dedicated vehicle access and space for loading and unloading.
Property Size6,000 SF
Price / SF$283.33
Days on Market271
Property Features for 149-19 Centreville Street
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Commercial
Zoning
R3X
Taxes and HOA fees
Annual Taxes
$41,991
Amenities
private driveway
loading/off loading area
Building Details
Building Size
6,000 SF
Year Built
1920
Listing Agency:
Akcess24Homes Inc
(718) 322-5800
Listed By:
Moheed Oasman
(718) 322-5800
Source:
Cornerstonemyhome
Added: Dec 2, 2025
Changed: Aug 29
Last Checked: Aug 25 at 9:14AM
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 Akcess24Homes Inc
Investment Insights
Based on property information with market context.
The property comprises a 6,000-square-foot building with 5,000 square feet of retail space. A corner deli operated at the site for 35 years, and the entire property is scheduled for delivery vacant at closing. A private driveway and designated loading and unloading area support day-to-day access and receiving functions.
The property is positioned in Ozone Park near JFK, major highways, Resorts World Casino, and public transportation. R3X zoning applies to the site. Its existing retail layout, vehicle access, and delivery configuration provide a functional platform for a future occupant or owner-user.
The property is positioned in Ozone Park near JFK, major highways, Resorts World Casino, and public transportation. R3X zoning applies to the site. Its existing retail layout, vehicle access, and delivery configuration provide a functional platform for a future occupant or owner-user.
Key Highlights
- 6,000‑square‑foot building with 5,000 square feet of retail space
- Entire property delivered vacant at closing
- Private driveway included
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
$107,100
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
6.30%
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%
$2,142,000
$2.1M
Cap Rate 7%
$1,530,000
$1.5M
Cap Rate 9%
$1,190,000
$1.2M
Market Conditions
NOI Build-Up for 6,000 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
$180.0K $30.00/SF
− Vacancy
−$27.0K −$4.50/SF
EGI
$153.0K $25.50/SF
− OpEx
−$45.9K −$7.65/SF
NOI
$107.1K $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%
$2,142,000
Cap Rate 7%
$1,530,000
Cap Rate 9%
$1,190,000
Alternative Uses
Best Use
Specialty Retail
$3.97M
$3.47M – $4.63M
NOI $277,695 @ 7.0% cap · market cap 16.34%
Second Best
Retail
$1.53M
$1.34M – $1.79M
NOI $107,100 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$4.42M
$3.87M – $5.16M
NOI $309,629 @ 7.0% cap · market cap 18.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,651
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 Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Vacant-at-closing retail property with dedicated vehicle access and space for loading and unloading.
Where is this retail space located?
The property is located at 149-19 Centreville Street Ozone Park, NY.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 6,000‑square‑foot building with 5,000 square feet of retail space; Entire property delivered vacant at closing; Private driveway included
