Building Details

Building Size 3,400 SF

Year Built 1960

Buildings 1

Stories 3

Units 4

Tenancy Multi

Listed By: Gail Leone Show Phone

Source: Clairedleone

Added: Jul 15 Changed: Oct 23 Last Checked: Oct 23 at 4:47PM

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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 Gail Leone

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Investment Insights

Based on property information with market context.

Two retail units occupy the ground level of this mixed-use property, with residential space on the floors above. Each upper level contains 1,025 sq. ft. The second-floor apartment has two bedrooms, one bathroom, living and dining rooms, and a private balcony; it has been renovated. The third floor offers a matching two-bedroom, one-bathroom layout. A roof installed two years ago and two front parking spaces round out the building’s physical features.

On College Point Boulevard, the property is alongside Walgreens, Dunkin’, Bank of America, and T-Mobile. Q20, Q26, and Q76 bus service provides connections to downtown Flushing.

Key Highlights

• Two ground‑floor retail units
• Upper floors each provide 1,025 sq. ft. of residential space
• Renovated second‑floor apartment with two bedrooms, one bathroom, and a private balcony

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$83,111

Cap Rate

5.62%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,662,220 $1.7M

Cap Rate 7%

$1,187,300 $1.2M

Cap Rate 9%

$923,456 $923.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,400 SF

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 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 (±1% cap)

NOI $83,111 @ 7.0% cap · market cap 5.62%

Second Best

Retail

$867.0K

$758.6K – $1.01M (±1% cap)

NOI $60,690 @ 7.0% cap · market cap 4.10%

Theoretical Best

Office A

$2.51M

$2.19M – $2.92M (±1% cap)

NOI $175,456 @ 7.0% cap · market cap 11.86%

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

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Dental Office Law Firm Parking Lot & Garage Travel Agency Acupuncture Real Estate Agency

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

2

Residential units

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Two street-level retail units sit beneath residential floors, with dedicated parking at the front.

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: Two ground‑floor retail units; Upper floors each provide 1,025 sq. ft. of residential space; Renovated second‑floor apartment with two bedrooms, one bathroom, and a private balcony