Mixed-Use Building with
21-20 Cornaga Avenue, Far Rockaway, NY 11691
For Sale
$1,300,000
Commercial Sale, Far Rockaway, NY
Property Size4,140 SF
Lot Size0.04 Acres
Price / SF$314.01
Days on Market52
Property Features for 21-20 Cornaga Avenue
General Information
Property type
Property subtype
Security features
Subdivision
Standard status
Size
Lot size
Taxes and HOA fees
Tax Annual Amount
Building Details
Year built
Listing Agency:
5 BORO REALTY CORP
(917) 705-0005
Listed By:
Nina Sabag · License NY #10311207532
855-305-DEAL
Added: Sep 24
Changed: Oct 1
Last Checked: Nov 14 at 9:06AM
MLS# 12001450
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1930, this three-story brick mixed-use building contains 4,140 square feet on a 0.0353-acre parcel. The ground floor is configured as a store, with two apartments on the floors above. The property is fully occupied.
The building is on Cornaga Avenue in Far Rockaway, near the Mott Avenue shopping corridor and a short walk from the A train at Beach 22nd Street. It may also be acquired as a package with two adjoining mixed-use buildings.
The building is on Cornaga Avenue in Far Rockaway, near the Mott Avenue shopping corridor and a short walk from the A train at Beach 22nd Street. It may also be acquired as a package with two adjoining mixed-use buildings.
Key Highlights
- Three‑story brick building constructed in 1930
- 4,140 square feet on a 0.0353‑acre parcel
- Ground‑floor store with two apartments above
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$101,200
Cap Rate
7.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,024,000
$2.0M
Cap Rate 7%
$1,445,714
$1.4M
Cap Rate 9%
$1,124,444
$1.1M
Market Conditions
NOI Build-Up for 4,140 SF
Gross rent
$191.3K $46.20/SF
− Vacancy
−$7.3K −$1.76/SF
EGI
$184.0K $44.44/SF
− OpEx
−$82.8K −$20.00/SF
NOI
$101.2K $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 Rate 5%
$2,024,000
Cap Rate 7%
$1,445,714
Cap Rate 9%
$1,124,444
Alternative Uses
Best Use
Apartment 5plus
$1.45M
$1.27M – $1.69M
NOI $101,200 @ 7.0% cap · market cap 7.78%
Second Best
Retail
$1.06M
$923.7K – $1.23M
NOI $73,899 @ 7.0% cap · market cap 5.68%
Theoretical Best
Office A
$3.05M
$2.67M – $3.56M
NOI $213,644 @ 7.0% cap · market cap 16.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,199
Businesses Nearby
125k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 62%
Shops & Services 24%
Groceries 12%
Electronics 1%
McDonald's
Dining
35,790 visits/mo
0.3 miles
Key Food Supermarkets
Groceries
15,292 visits/mo
0.1 miles
Taco Bell
Dining
13,757 visits/mo
0.3 miles
BP
Shops & Services
11,745 visits/mo
0.4 miles
Chase Bank
Shops & Services
9,620 visits/mo
0.3 miles
Demographics for 11691, NY
64,673
Population
23,400
Households
2.8
Avg Household Size
34
Median Age
23%
College-Educated
78%
High-School Grad
2.7 sq mi
ZIP Area
23,953
Density / Sq Mi
$57,027
Median Household Income
$40,366
Median Earnings
$1,444
Median Rent
$649,400
Median Home Value
Check the figures for this property
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Market
Average Price Trend$/SF for Mixed-use properties in Queens County, NY
Properties on Market for Mixed-use properties in Queens County
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A ground-floor retail space is paired with two upper-level apartments in a fully occupied building.
Where is this mixed-use property located?
The property is located at 21-20 Cornaga Avenue Far Rockaway, NY.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Three‑story brick building constructed in 1930; 4,140 square feet on a 0.0353‑acre parcel; Ground‑floor store with two apartments above
