Building Details

Building Size 8,325 SF

Tenancy Multi

Listing Agency: Sweet Key Realty Group Inc

Listed By: Kayla Piao · License #10311209982 Show Phone

Source: Elliman

Added: Jul 20 Changed: Oct 13 Last Checked: Oct 19 at 7:45AM

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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

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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.

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 / Yr

$274,091

Cap Rate

4.06%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,481,820 $5.5M

Cap Rate 7%

$3,915,586 $3.9M

Cap Rate 9%

$3,045,456 $3.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,325 SF

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 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 (±1% cap)

NOI $274,091 @ 7.0% cap · market cap 4.06%

Second Best

Retail

$2.12M

$1.86M – $2.48M (±1% cap)

NOI $148,601 @ 7.0% cap · market cap 2.20%

Theoretical Best

Office A

$6.14M

$5.37M – $7.16M (±1% cap)

NOI $429,610 @ 7.0% cap · market cap 6.36%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Magic on Nails inc. Nail Salon Cannabis World Department Store

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Building Supply Auto Parts Store Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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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