Mixed-Use Building With
For Sale
$1,480,000
1846 College Point Boulevard, College Point, NY 11356
Ground-floor retail is paired with two upper-level residential apartments.
Property Size3,400 SF
Days on Market33
Property Features for 1846 College Point Boulevard
General Information
Standard status
Active
Size
3,400 SF
Total Parking Spaces
2
Property subtype
Quadruplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$26,362
Amenities
private balcony
transit connectivity
Building Details
Building Size
3,400 SF
Year Built
1960
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
City Realty Group
(718) 888-9005
Listed By:
Emmy D. Cai CBR · License #10311207995
Source:
Serhant
Added: Jul 15
Changed: Aug 16
Last Checked: Aug 16 at 3:09AM
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 area measures 25' x 54' and includes two dedicated parking spaces at the front. Building infrastructure includes a two-year-old roof, and the structure dates to 1960.
Each upper level provides 1,025 sq. ft. within a 25' x 41' layout. The second-floor apartment has two bedrooms, one bathroom, a living room, dining room, and private balcony; it has also been newly renovated. The third-floor unit follows the same two-bedroom, one-bathroom configuration. The property is located on College Point Boulevard alongside Walgreens, Dunkin', Bank of America, and T-Mobile. Q20, Q26, and Q76 bus service provides access to downtown Flushing.
Each upper level provides 1,025 sq. ft. within a 25' x 41' layout. The second-floor apartment has two bedrooms, one bathroom, a living room, dining room, and private balcony; it has also been newly renovated. The third-floor unit follows the same two-bedroom, one-bathroom configuration. The property is located on College Point Boulevard alongside Walgreens, Dunkin', Bank of America, and T-Mobile. Q20, Q26, and Q76 bus service provides access to downtown Flushing.
Key Highlights
- Two ground‑floor retail stores with a 25' x 54' commercial footprint
- Two upper‑level residential units, each measuring 1,025 sq. ft.
- Second‑floor apartment includes a newly renovated two‑bedroom, one‑bathroom 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
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,756
Businesses Nearby
59k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 81%
Groceries 17%
Electronics 2%
BP
Shops & Services
17,334 visits/mo
0.4 miles
Conoco
Shops & Services
13,689 visits/mo
0.5 miles
7-Eleven
Shops & Services
11,406 visits/mo
0.5 miles
Key Food Supermarkets
Groceries
9,999 visits/mo
0.3 miles
7-Eleven
Shops & Services
4,811 visits/mo
0.1 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 - Ground-floor retail is paired with two upper-level residential apartments.
Where is this mixed-use property located?
The property is located at 1846 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 stores with a 25' x 54' commercial footprint; Two upper‑level residential units, each measuring 1,025 sq. ft.; Second‑floor apartment includes a newly renovated two‑bedroom, one‑bathroom layout
