Renovated Mixed-Use Corner
For Sale
$1,400,000
15-27 149th Street, New York, NY 11357
Flexible property combining finished commercial space with a separate one-bedroom apartment and vacant delivery.
Property Size1,500 SF
Price / SF$933.33
Days on Market175
Property Features for 15-27 149th Street
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Mixed Use
Site & Location
Corner Location
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$15,767
Amenities
3
Parking.
Shared Driveway, On Street.
Building Details
Year Built
1925
Buildings
1
Tenancy
Multi
Abandoned
No
Listing Agency:
(718) 631-8900
Listed By:
Douglas Elliman Real Estate
(646) 385-1864
Source:
Xome
Added: Mar 13
Changed: Aug 30
Last Checked: Aug 31 at 3:28PM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This fully renovated 1,500-square-foot mixed-use property is a semi-attached corner building with one residential unit and two commercial units currently operated as one commercial space. The commercial portion includes a reception area, office, glass-enclosed conference room, contemporary kitchen, full bathroom, and storage closet. A separate entrance serves the residential component, a one-bedroom, one-bathroom apartment with porcelain flooring, 10-foot ceilings, modern kitchen, porcelain-tiled bathroom, walk-in closet, and laundry.
The property is located in Whitestone near schools, restaurants, and public transportation, all within walking distance. Parking is available through a shared driveway and on-street spaces. The building was constructed in 1925 and will be delivered vacant.
The property is located in Whitestone near schools, restaurants, and public transportation, all within walking distance. Parking is available through a shared driveway and on-street spaces. The building was constructed in 1925 and will be delivered vacant.
Key Highlights
- Fully renovated 1,500‑square‑foot mixed‑use corner building
- One residential unit plus two commercial units, with the commercial space currently combined
- Commercial area includes reception, office, conference room, kitchen, full bathroom, and storage
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
$47,813
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
3.42%
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%
$956,260
$956.3K
Cap Rate 7%
$683,043
$683.0K
Cap Rate 9%
$531,256
$531.3K
Market Conditions
NOI Build-Up for 1,500 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
$90.0K $60.00/SF
− Vacancy
−$13.5K −$9.00/SF
EGI
$76.5K $51.00/SF
− OpEx
−$28.7K −$19.13/SF
NOI
$47.8K $31.88/SF
Area
New York, NY
Vacancy
15.00%
Lease Rate
$60.00 /SF/Yr
Expense Ratio
37.50%
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%
$956,260
Cap Rate 7%
$683,043
Cap Rate 9%
$531,256
Alternative Uses
Best Use
Mixed Use
$683.0K
$597.7K – $796.9K
NOI $47,813 @ 7.0% cap · market cap 3.42%
Second Best
Office B
$671.0K
$587.1K – $782.8K
NOI $46,969 @ 7.0% cap · market cap 3.35%
Theoretical Best
Specialty Retail
$3.73M
$3.27M – $4.36M
NOI $261,360 @ 7.0% cap · market cap 18.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,610
Businesses Nearby
Explore this area
Business Placement
Demographics for 11357, NY
42,319
Population
16,586
Households
2.6
Avg Household Size
46
Median Age
38%
College-Educated
86%
High-School Grad
2.8 sq mi
ZIP Area
15,114
Density / Sq Mi
$97,754
Median Household Income
$58,814
Median Earnings
$2,228
Median Rent
$920,200
Median Home Value
Market
Vacancy Rate% for Office 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?
Mixed-use property - Flexible property combining finished commercial space with a separate one-bedroom apartment and vacant delivery.
Where is this mixed-use property located?
The property is located at 15-27 149th Street New York, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Fully renovated 1,500‑square‑foot mixed‑use corner building; One residential unit plus two commercial units, with the commercial space currently combined; Commercial area includes reception, office, conference room, kitchen, full bathroom, and storage
