Mixed-Use Property With Medical
For Sale
$1,775,000
201-22 43rd Avenue, Bayside, NY 11361
Two occupied residential units accompany a permitted ground-floor medical or dental office requiring tenant build-out.
Property Size2,779 SF
Days on Market64
Property Features for 201-22 43rd Avenue
General Information
Standard status
Active
Size
2,779 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$13,125
Building Details
Building Size
2,779 SF
Year Built
1970
Listing Agency:
Coldwell Banker American Homes
Listed By:
Brandi Everett
(631) 994-9799
Source:
Barbieliteam
Added: Jul 1
Changed: Aug 31
Last Checked: Sep 1 at 10:58PM
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 Coldwell Banker American Homes
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.
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 = 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
$91,495
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
5.15%
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%
$1,829,900
$1.8M
Cap Rate 7%
$1,307,071
$1.3M
Cap Rate 9%
$1,016,611
$1.0M
Market Conditions
NOI Build-Up for 2,779 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
$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 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%
$1,829,900
Cap Rate 7%
$1,307,071
Cap Rate 9%
$1,016,611
Alternative Uses
Best Use
Office B
$1.31M
$1.14M – $1.52M
NOI $91,495 @ 7.0% cap · market cap 5.15%
Second Best
Apartment 5plus
$970.4K
$849.1K – $1.13M
NOI $67,931 @ 7.0% cap · market cap 3.83%
Theoretical Best
Office A
$2.05M
$1.79M – $2.39M
NOI $143,410 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
