Mixed-Use Building with
For Sale
$1,480,000
18-46 College Point Boulevard, College Point, NY 11356
Two residential units sit above ground-floor commercial space.
Property Size3,400 SF
Days on Market48
Property Features for 18-46 College Point Boulevard
General Information
Standard status
Active
Size
3,400 SF
Total Parking Spaces
2
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$26,362
Building Details
Building Size
3,400 SF
Year Built
1960
Buildings
1
Stories
3
Units
4
Tenancy
Multi
Listing Agency:
City Realty Group
(646) 805-8688
Listed By:
Emmy D. Cai CBR · License #10311207995
(646) 805-8688
Source:
Maurafinnegan
Added: Jul 15
Changed: Aug 29
Last Checked: Aug 30 at 5:40PM
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 City Realty Group
Investment Insights
Based on property information with market context.
This mixed-use building combines two ground-level retail stores with residential space on the floors above. The commercial footprint measures 25 feet by 54 feet, while each upper level provides 1,025 square feet in a 25-foot by 41-foot layout. The second-floor apartment has two bedrooms, one bathroom, a living room, dining area, private balcony, and recent renovations. The third floor offers a matching two-bedroom, one-bathroom configuration. A roof installed two years ago supports the building’s maintained infrastructure.
The property includes two dedicated parking spaces at the front and is positioned along College Point Boulevard near Walgreens, Dunkin’, Bank of America, and T-Mobile. Q20, Q26, and Q76 bus service provides connectivity to downtown Flushing.
The property includes two dedicated parking spaces at the front and is positioned along College Point Boulevard near Walgreens, Dunkin’, Bank of America, and T-Mobile. Q20, Q26, and Q76 bus service provides connectivity to downtown Flushing.
Key Highlights
- Mixed‑use configuration with two ground‑floor retail stores and two upper‑level apartments
- Commercial area measures 25'x 54'
- Each residential floor offers 1,025 sq. ft. within a 25'x 41' layout
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
$83,111
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
5.62%
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%
$1,662,220
$1.7M
Cap Rate 7%
$1,187,300
$1.2M
Cap Rate 9%
$923,456
$923.5K
Market Conditions
NOI Build-Up for 3,400 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
$157.1K $46.20/SF
− Vacancy
−$6.0K −$1.76/SF
EGI
$151.1K $44.44/SF
− OpEx
−$68.0K −$20.00/SF
NOI
$83.1K $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%
$1,662,220
Cap Rate 7%
$1,187,300
Cap Rate 9%
$923,456
Alternative Uses
Best Use
Apartment 5plus
$1.19M
$1.04M – $1.39M
NOI $83,111 @ 7.0% cap · market cap 5.62%
Second Best
Retail
$867.0K
$758.6K – $1.01M
NOI $60,690 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$2.51M
$2.19M – $2.92M
NOI $175,456 @ 7.0% cap · market cap 11.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
986
Businesses Nearby
Explore this area
Business Placement
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two residential units sit above ground-floor commercial space.
Where is this mixed-use property located?
The property is located at 18-46 College Point Boulevard College Point, NY.
What is the asking price?
The asking price for this property is $1,480,000.
What are key features of this property?
This property features: Mixed‑use configuration with two ground‑floor retail stores and two upper‑level apartments; Commercial area measures 25'x 54'; Each residential floor offers 1,025 sq. ft. within a 25'x 41' layout
