Building Details

Building Size 2,779 SF

Year Built 1970

Listing Agency: Coldwell Banker American Homes

Listed By: Brandi Everett Show Phone

Source: Barbieliteam

Added: Jul 1 Changed: Oct 13 Last Checked: Oct 16 at 2:37PM

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Investment Insights

Based on property information with market context.

Built in 1970, this mixed-use property combines residential income with a separately designated ground-floor commercial component. The building contains two residential units, each configured with three bedrooms, one bathroom, a living room, dining room, and kitchen. Both apartments are occupied by long-term tenants.

The ground floor carries a town-approved permit for medical or dental office use. The commercial area requires build-out, allowing the future operator to configure the space for a healthcare practice. The property is located in Bayside, Queens, just off Francis Lewis Boulevard.

Key Highlights

• Two residential units, each with 3 bedrooms and 1 bathroom
• Both apartments occupied by long‑term tenants
• Town‑approved permit for a ground‑floor medical/dental office

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$91,495

Cap Rate

5.15%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,829,900 $1.8M

Cap Rate 7%

$1,307,071 $1.3M

Cap Rate 9%

$1,016,611 $1.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,779 SF

Gross rent

$140.1K $50.40/SF

− Vacancy

−$18.1K −$6.50/SF

EGI

$122.0K $43.90/SF

− OpEx

−$30.5K −$10.97/SF

NOI

$91.5K $32.92/SF

Area

Queens County, NY

Vacancy

12.90%

Lease Rate

$50.40 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,829,900

Cap Rate 7%

$1,307,071

Cap Rate 9%

$1,016,611

Alternative Uses

Best Use

Office B

$1.31M

$1.14M – $1.52M (±1% cap)

NOI $91,495 @ 7.0% cap · market cap 5.15%

Second Best

Apartment 5plus

$970.4K

$849.1K – $1.13M (±1% cap)

NOI $67,931 @ 7.0% cap · market cap 3.83%

Theoretical Best

Office A

$2.05M

$1.79M – $2.39M (±1% cap)

NOI $143,410 @ 7.0% cap · market cap 8.08%

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

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Parking Lot & Garage Hotel & Motel Clothing & Fashion Store (Bike/Boat/Book/etc) Store Tech Support Center Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

4,381

Businesses Nearby

Explore this area Business Placement

Demographics for 11361, NY

29,116

Population

11,934

Households

2.4

Avg Household Size

43

Median Age

48%

College-Educated

88%

High-School Grad

1.7 sq mi

ZIP Area

17,127

Density / Sq Mi

$108,391

Median Household Income

$58,410

Median Earnings

$2,315

Median Rent

$900,700

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Two occupied residential units accompany a permitted ground-floor medical or dental office requiring tenant build-out.

Where is this mixed-use property located?

The property is located at 201-22 43rd Avenue Bayside, NY.

What is the asking price?

The asking price for this property is $1,775,000.

What are key features of this property?

This property features: Two residential units, each with 3 bedrooms and 1 bathroom; Both apartments occupied by long‑term tenants; Town‑approved permit for a ground‑floor medical/dental office