Mixed-Use Building with Four
For Sale
$2,280,000
21-20 College Point Boulevard, College Point, NY 11356
Corner property combining restaurant-oriented retail space with four residential units and R5B zoning.
Property Size6,875 SF
Days on Market92
Property Features for 21-20 College Point Boulevard
General Information
Standard status
Active
Size
6,875 SF
Total Parking Spaces
4
Property subtype
Commercial
Zoning
R5B
Additional Details
Floor
Ground
Taxes and HOA fees
Annual Taxes
$15,126
Building Details
Building Size
6,875 SF
Year Built
1930
Stories
3
Listing Agency:
E Realty International Corp
(347) 517-7177
Listed By:
Hui Hong Huang
(347) 517-7177
Source:
Alexandermadisonhomes
Added: May 30
Changed: Aug 28
Last Checked: Aug 25 at 9:08AM
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 E Realty International Corp
Investment Insights
Based on property information with market context.
Built in 1930, this mixed-use property combines a ground-floor retail component currently operating as a restaurant with four residential units above or within the building. Four garages are included, adding on-site enclosed parking and storage capacity.
The property occupies a high-traffic corner at 21-20 College Point Boulevard in College Point, NY 11356. R5B zoning supports the property’s mixed-use configuration as described, with commercial activity and residential occupancy in one building. The existing restaurant use and four-unit residential component provide a straightforward combination of income-producing spaces for an owner-user or investor.
The property occupies a high-traffic corner at 21-20 College Point Boulevard in College Point, NY 11356. R5B zoning supports the property’s mixed-use configuration as described, with commercial activity and residential occupancy in one building. The existing restaurant use and four-unit residential component provide a straightforward combination of income-producing spaces for an owner-user or investor.
Key Highlights
- Mixed‑use building with a ground‑floor restaurant operation and four residential units
- Four garages included with the property
- R5B zoning
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
$168,055
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
7.37%
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%
$3,361,100
$3.4M
Cap Rate 7%
$2,400,786
$2.4M
Cap Rate 9%
$1,867,278
$1.9M
Market Conditions
NOI Build-Up for 6,875 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
$317.6K $46.20/SF
− Vacancy
−$12.1K −$1.76/SF
EGI
$305.6K $44.44/SF
− OpEx
−$137.5K −$20.00/SF
NOI
$168.1K $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%
$3,361,100
Cap Rate 7%
$2,400,786
Cap Rate 9%
$1,867,278
Alternative Uses
Best Use
Specialty Retail
$4.55M
$3.98M – $5.30M
NOI $318,192 @ 7.0% cap · market cap 13.96%
Second Best
Apartment 5plus
$2.40M
$2.10M – $2.80M
NOI $168,055 @ 7.0% cap · market cap 7.37%
Theoretical Best
Office A
$5.07M
$4.43M – $5.91M
NOI $354,783 @ 7.0% cap · market cap 15.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
986
Businesses Nearby
Explore this area
Business Placement
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 Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner property combining restaurant-oriented retail space with four residential units and R5B zoning.
Where is this mixed-use property located?
The property is located at 21-20 College Point Boulevard College Point, NY.
What is the asking price?
The asking price for this property is $2,280,000.
What are key features of this property?
This property features: Mixed‑use building with a ground‑floor restaurant operation and four residential units; Four garages included with the property; R5B zoning
