Mixed-Use Property with Medical Office
For Sale
$1,775,000
201-22 43rd Avenue, New York, NY 11361
Two occupied three-bedroom apartments accompany a permitted ground-floor medical/dental office requiring build-out.
Property Size2,779 SF
Price / SF$638.72
Days on Market223
Property Features for 201-22 43rd Avenue
General Information
Standard status
Active
Size
2,779 SF
Property subtype
Mixed Use
Property Condition
Severity
Repairs Needed
Evidence
require build out
Taxes and HOA fees
Annual Taxes
$13,126
Amenities
3
Building Details
Year Built
1970
Listing Agency:
(631) 588-9090
Listed By:
Coldwell Banker American Homes
(631) 994-9799
Source:
Xome
Added: Jan 23
Changed: Sep 2
Last Checked: Sep 2 at 3:34PM
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.
This 2,779 SF mixed-use property contains two residential apartments and a ground-floor commercial space. Each apartment has three bedrooms, one bathroom, a living room, dining room, and kitchen. The residences are occupied by long-term tenants.
The lower-level commercial area has a town-approved permit for medical or dental office use. The space requires build-out, allowing the interior to be configured for an operating healthcare practice. The property was built in 1970 and is located at 201-22 43rd Avenue in New York, NY 11361, just off Francis Lewis Blvd.
The lower-level commercial area has a town-approved permit for medical or dental office use. The space requires build-out, allowing the interior to be configured for an operating healthcare practice. The property was built in 1970 and is located at 201-22 43rd Avenue in New York, NY 11361, just off Francis Lewis Blvd.
Key Highlights
- 2,779 SF mixed‑use property built in 1970
- Two occupied residential units, each with 3 bedrooms and 1 bathroom
- Each apartment includes living, dining, and kitchen areas
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
$94,051
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
5.30%
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%
$1,881,020
$1.9M
Cap Rate 7%
$1,343,586
$1.3M
Cap Rate 9%
$1,045,011
$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
$141.7K $51.00/SF
− Vacancy
−$7.4K −$2.65/SF
EGI
$134.4K $48.35/SF
− OpEx
−$40.3K −$14.50/SF
NOI
$94.1K $33.84/SF
Area
New York, NY
Vacancy
5.20%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,881,020
Cap Rate 7%
$1,343,586
Cap Rate 9%
$1,045,011
Alternative Uses
Best Use
Multifamily LT 5
$1.34M
$1.18M – $1.57M
NOI $94,051 @ 7.0% cap · market cap 5.30%
Second Best
Mixed Use
$1.27M
$1.11M – $1.48M
NOI $88,581 @ 7.0% cap · market cap 4.99%
Theoretical Best
Specialty Retail
$6.92M
$6.05M – $8.07M
NOI $484,213 @ 7.0% cap · market cap 27.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,442
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 three-bedroom apartments accompany a permitted ground-floor medical/dental office requiring build-out.
Where is this mixed-use property located?
The property is located at 201-22 43rd Avenue New York, 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: 2,779 SF mixed‑use property built in 1970; Two occupied residential units, each with 3 bedrooms and 1 bathroom; Each apartment includes living, dining, and kitchen areas
