Three-Story Mixed-Use Corner
For Sale
Contact for pricing
201-24 43rd Avenue, Bayside, NY 11361
Brick property combines a dental suite, two residential apartments, finished basement space, and private parking in Bayside.
Property Size4,100 SF
Price / SF$707.32
Days on Market26
Property Features for 201-24 43rd Avenue
General Information
Standard status
Active
Size
4,100 SF
Property subtype
Office, Mixed Use
Zoning
R3-2
Building Details
Year Built
1963
Buildings
1
Units
3
Listing Agency:
Prime Realty
(718) 229-2922
Listed By:
Mitchell Slavuter · License #NY 10311200955
Source:
Crexi
Added: Jul 30
Changed: Aug 13
Last Checked: Aug 23 at 4:45AM
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 Prime Realty
Investment Insights
Based on property information with market context.
This three-story brick mixed-use property contains a ground-floor dental suite and two full-floor residential apartments. The professional space measures approximately 1,100 SF and includes three treatment operatories, digital imaging infrastructure, nitrous oxide plumbing, and a networked seven-workstation computer system. Each upper-level apartment has three bedrooms and two bathrooms. A finished basement with its own private entrance adds flexible utility, while two private parking spaces serve the building. Constructed in 1963, the 4,100-SF property is positioned on a corner in Bayside, Queens, and is zoned R3-2. The dental practice has operated at the property for 22 years and currently runs two days per week, with three experienced staff members and a periodontist in place. The offering combines commercial and residential occupancy within one building.
Key Highlights
- 4,100‑SF three‑story brick mixed‑use building constructed in 1963
- Approximately 1,100‑SF dental suite with three treatment operatories
- Two full‑floor apartments, each with 3 bedrooms and 2 bathrooms
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
$134,988
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
4.65%
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%
$2,699,760
$2.7M
Cap Rate 7%
$1,928,400
$1.9M
Cap Rate 9%
$1,499,867
$1.5M
Market Conditions
NOI Build-Up for 4,100 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
$206.6K $50.40/SF
− Vacancy
−$26.7K −$6.50/SF
EGI
$180.0K $43.90/SF
− OpEx
−$45.0K −$10.97/SF
NOI
$135.0K $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%
$2,699,760
Cap Rate 7%
$1,928,400
Cap Rate 9%
$1,499,867
Alternative Uses
Best Use
Office B
$1.93M
$1.69M – $2.25M
NOI $134,988 @ 7.0% cap · market cap 4.65%
Second Best
Apartment 5plus
$1.43M
$1.25M – $1.67M
NOI $100,222 @ 7.0% cap · market cap 3.46%
Theoretical Best
Office A
$3.02M
$2.64M – $3.53M
NOI $211,580 @ 7.0% cap · market cap 7.30%
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 - Brick property combines a dental suite, two residential apartments, finished basement space, and private parking in Bayside.
Where is this mixed-use property located?
The property is located at 201-24 43rd Avenue Bayside, NY.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 4,100‑SF three‑story brick mixed‑use building constructed in 1963; Approximately 1,100‑SF dental suite with three treatment operatories; Two full‑floor apartments, each with 3 bedrooms and 2 bathrooms
