Mixed-Use Building with Retail
For Sale
$6,750,000
156-09 Northern Blvd, Queens, NY 11358
Basement commercial units, two first-floor retail stores, and four second-floor office suites on Northern Blvd.
Property Size8,325 SF
Days on Market48
Property Features for 156-09 Northern Blvd
General Information
Standard status
Active
Size
8,325 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Office Units
4
Taxes and HOA fees
Annual Taxes
$65,637
Building Details
Building Size
8,325 SF
Tenancy
Multi
Listing Agency:
Sweet Key Realty Group Inc
Listed By:
Kayla Piao · License #10311209982
(917) 292-1818
Source:
Elliman
Added: Jul 20
Changed: Aug 31
Last Checked: Sep 4 at 2:00PM
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 Sweet Key Realty Group Inc
Investment Insights
Based on property information with market context.
This mixed-use building is arranged for multiple income streams, with two commercial units in the basement, two retail stores on the first floor, and four office suites on the second floor.
The property is located on Northern Blvd in Queens, NY 11358. Public transit access is convenient, with Q12/Q13/Q28 bus service and the LIRR Broadway Station nearby. Bike score is listed at 64, walk score at 96, and transit score at 100.
The overall configuration provides separate spaces across three levels, supporting a mix of retail and office uses within one property.
The property is located on Northern Blvd in Queens, NY 11358. Public transit access is convenient, with Q12/Q13/Q28 bus service and the LIRR Broadway Station nearby. Bike score is listed at 64, walk score at 96, and transit score at 100.
The overall configuration provides separate spaces across three levels, supporting a mix of retail and office uses within one property.
Key Highlights
- Income‑producing commercial property on Northern Blvd with 2 basement commercial units
- First floor features 2 retail stores
- Second floor includes 4 office suites
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
$274,091
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
4.06%
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%
$5,481,820
$5.5M
Cap Rate 7%
$3,915,586
$3.9M
Cap Rate 9%
$3,045,456
$3.0M
Market Conditions
NOI Build-Up for 8,325 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
$419.6K $50.40/SF
− Vacancy
−$54.1K −$6.50/SF
EGI
$365.5K $43.90/SF
− OpEx
−$91.4K −$10.97/SF
NOI
$274.1K $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%
$5,481,820
Cap Rate 7%
$3,915,586
Cap Rate 9%
$3,045,456
Alternative Uses
Best Use
Office B
$3.92M
$3.43M – $4.57M
NOI $274,091 @ 7.0% cap · market cap 4.06%
Second Best
Retail
$2.12M
$1.86M – $2.48M
NOI $148,601 @ 7.0% cap · market cap 2.20%
Theoretical Best
Office A
$6.14M
$5.37M – $7.16M
NOI $429,610 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
6,666
Businesses Nearby
Explore this area
Business Placement
Demographics for 11358, NY
40,435
Population
13,806
Households
2.9
Avg Household Size
43
Median Age
37%
College-Educated
84%
High-School Grad
2.0 sq mi
ZIP Area
20,218
Density / Sq Mi
$88,729
Median Household Income
$46,875
Median Earnings
$2,086
Median Rent
$967,200
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 - Basement commercial units, two first-floor retail stores, and four second-floor office suites on Northern Blvd.
Where is this mixed-use property located?
The property is located at 156-09 Northern Blvd Queens, NY.
What is the asking price?
The asking price for this property is $6,750,000.
What are key features of this property?
This property features: Income‑producing commercial property on Northern Blvd with 2 basement commercial units; First floor features 2 retail stores; Second floor includes 4 office suites
