Corner Mixed-Use
For Sale
$1,388,000
172-02 Linden Boulevard, Jamaica, NY 11434
Five-unit property combining a storefront with apartments, separate utility meters, basement space, and on-site parking.
Property Size3,600 SF
Lot Size0.06 Acres
Price / SF$385.56
Days on Market149
Property Features for 172-02 Linden Boulevard
General Information
Standard status
Active
Size
3,600 SF
Total Parking Spaces
6
Lot size
0.06 Acres
Property subtype
Commercial
Zoning
R5B
Site & Location
Corner Location
Yes
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
3 x 1BR, 1 x 3BR
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$18,854
Amenities
Excellent Signage
Great Exposure
High 10' Ceilings
Basement
Separate Meters
200 Amp Power
All New LED Lighting
CAC
Building Details
Building Size
3,600 SF
Year Built
1931
Buildings
1
Units
5
Tenancy
Multi
Listing Agency:
All Island Estates Realty Corp
(516) 279-8828
Listed By:
Richard Matt Shane · License #10301216230
(516) 279-8828
Source:
Mahlerrealty
Added: Apr 2
Changed: Aug 28
Last Checked: Aug 28 at 11:31AM
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 All Island Estates Realty Corp
Investment Insights
Based on property information with market context.
This mixed-use building dates to 1931 and contains approximately 3,600+ square feet across a street-level store and four apartments. The property includes a basement, high 10-foot ceilings, separate meters, 200-amp power, central air conditioning, and new LED lighting. Six parking spaces support the building’s commercial and residential components, while the store occupies approximately 2,400 square feet.
The property occupies a corner position at 172-02 Linden Boulevard in Jamaica, with 21 feet of frontage along Linden Boulevard and 117 feet along 172nd Street. It is one block from Merrick Boulevard and minutes from the St. Albans LIRR station. The surrounding area includes banks, retailers, restaurants, fitness, automotive, and grocery users.
The unit mix consists of one storefront, three one-bedroom apartments, and one three-bedroom apartment. The offering includes a reported 9.22 cap rate and a five-unit configuration suitable for mixed-use ownership.
The property occupies a corner position at 172-02 Linden Boulevard in Jamaica, with 21 feet of frontage along Linden Boulevard and 117 feet along 172nd Street. It is one block from Merrick Boulevard and minutes from the St. Albans LIRR station. The surrounding area includes banks, retailers, restaurants, fitness, automotive, and grocery users.
The unit mix consists of one storefront, three one-bedroom apartments, and one three-bedroom apartment. The offering includes a reported 9.22 cap rate and a five-unit configuration suitable for mixed-use ownership.
Key Highlights
- Five‑unit mixed‑use building with a 2,400 Sqft. store and four apartments
- Approximately 3,600+ Sqft. building constructed in 1931
- Corner frontage of 21' on Linden Blvd. and 117' on 172nd St.
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
$88,000
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
6.34%
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%
$1,760,000
$1.8M
Cap Rate 7%
$1,257,143
$1.3M
Cap Rate 9%
$977,778
$977.8K
Market Conditions
NOI Build-Up for 3,600 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
$166.3K $46.20/SF
− Vacancy
−$6.3K −$1.76/SF
EGI
$160.0K $44.44/SF
− OpEx
−$72.0K −$20.00/SF
NOI
$88.0K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
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%
$1,760,000
Cap Rate 7%
$1,257,143
Cap Rate 9%
$977,778
Alternative Uses
Best Use
Apartment 5plus
$1.26M
$1.10M – $1.47M
NOI $88,000 @ 7.0% cap · market cap 6.34%
Second Best
Retail
$918.0K
$803.3K – $1.07M
NOI $64,260 @ 7.0% cap · market cap 4.63%
Theoretical Best
Office A
$2.65M
$2.32M – $3.10M
NOI $185,777 @ 7.0% cap · market cap 13.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,051
Businesses Nearby
Explore this area
Business Placement
Demographics for 11434, NY
66,964
Population
23,787
Households
2.8
Avg Household Size
40
Median Age
22%
College-Educated
87%
High-School Grad
3.2 sq mi
ZIP Area
20,926
Density / Sq Mi
$76,668
Median Household Income
$46,742
Median Earnings
$1,409
Median Rent
$585,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Five-unit property combining a storefront with apartments, separate utility meters, basement space, and on-site parking.
Where is this mixed-use property located?
The property is located at 172-02 Linden Boulevard Jamaica, NY.
What is the asking price?
The asking price for this property is $1,388,000.
What are key features of this property?
This property features: Five‑unit mixed‑use building with a 2,400 Sqft. store and four apartments; Approximately 3,600+ Sqft. building constructed in 1931; Corner frontage of 21' on Linden Blvd. and 117' on 172nd St.
