Mixed-Use Property With Restaurant
For Sale
$1,699,999
18-24 College Point Boulevard, College Point, NY 11356
Commercial operations occupy the lower level, with a separate residential apartment above.
Property Size2,700 SF
Days on Market9
Property Features for 18-24 College Point Boulevard
General Information
Standard status
Active
Size
2,700 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$22,840
Building Details
Building Size
2,700 SF
Year Built
1928
Listing Agency:
Winzone Realty Inc
(929) 561-6777
Listed By:
Ming Quan Zhang
Source:
Barbieliteam
Added: Aug 11
Changed: Aug 16
Last Checked: Aug 18 at 5:53AM
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 Winzone Realty Inc
Investment Insights
Based on property information with market context.
This mixed-use property combines a street-facing restaurant with a residential apartment in a building constructed in 1928. The commercial component occupies an approximately 20' x 70' first-floor area, with basement space supporting storage, food preparation, and restaurant operations. The second floor contains a two-bedroom, one-bathroom apartment with a living room and kitchen.
The property is situated on an approximately 2,000 SF lot at 18-24 College Point Boulevard in College Point, NY. It is located within an R5B/C1-3 zoning area and is surrounded by shops, restaurants, parks, and schools. Q20A and Q65 bus routes provide access to the surrounding area. The existing restaurant has received coverage in The New York Times.
The property is situated on an approximately 2,000 SF lot at 18-24 College Point Boulevard in College Point, NY. It is located within an R5B/C1-3 zoning area and is surrounded by shops, restaurants, parks, and schools. Q20A and Q65 bus routes provide access to the surrounding area. The existing restaurant has received coverage in The New York Times.
Key Highlights
- Mixed‑use building on an approximately 2,000 SF lot
- First‑floor restaurant space measures approximately 20' x 70'
- Basement supports storage, food preparation, and restaurant operations
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
$124,963
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
7.35%
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%
$2,499,260
$2.5M
Cap Rate 7%
$1,785,186
$1.8M
Cap Rate 9%
$1,388,478
$1.4M
Market Conditions
NOI Build-Up for 2,700 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
$178.2K $66.00/SF
− Vacancy
−$11.6K −$4.29/SF
EGI
$166.6K $61.71/SF
− OpEx
−$41.7K −$15.43/SF
NOI
$125.0K $46.28/SF
Area
Queens County, NY
Vacancy
6.50%
Lease Rate
$66.00 /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%
$2,499,260
Cap Rate 7%
$1,785,186
Cap Rate 9%
$1,388,478
Alternative Uses
Best Use
Specialty Retail
$1.79M
$1.56M – $2.08M
NOI $124,963 @ 7.0% cap · market cap 7.35%
Second Best
Apartment 5plus
$942.9K
$825.0K – $1.10M
NOI $66,000 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,333 @ 7.0% cap · market cap 8.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,756
Businesses Nearby
51k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 76%
Groceries 20%
Electronics 3%
Dining 2%
Conoco
Shops & Services
13,689 visits/mo
0.4 miles
7-Eleven
Shops & Services
11,406 visits/mo
0.4 miles
Key Food Supermarkets
Groceries
9,999 visits/mo
0.1 miles
BP
Shops & Services
8,061 visits/mo
0.4 miles
7-Eleven
Shops & Services
4,811 visits/mo
0.2 miles
Demographics for 11356, NY
28,310
Population
9,003
Households
3.1
Avg Household Size
37
Median Age
25%
College-Educated
78%
High-School Grad
1.6 sq mi
ZIP Area
17,694
Density / Sq Mi
$91,445
Median Household Income
$40,928
Median Earnings
$2,160
Median Rent
$893,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial operations occupy the lower level, with a separate residential apartment above.
Where is this mixed-use property located?
The property is located at 18-24 College Point Boulevard College Point, NY.
What is the asking price?
The asking price for this property is $1,699,999.
What are key features of this property?
This property features: Mixed‑use building on an approximately 2,000 SF lot; First‑floor restaurant space measures approximately 20' x 70'; Basement supports storage, food preparation, and restaurant operations
