Three-Story Mixed-Use
2120 Cornaga Avenue, Far Rockaway, NY 11691
For Sale
$1,300,000
A ground-floor retail space and two upper-level apartments are fully occupied in this brick property.
Property Size4,140 SF
Price / SF$314.01
Days on Market45
Property Features for 2120 Cornaga Avenue
General Information
Standard status
Size
Property subtype
Zoning
Occupancy
Site & Location
Public Transit
Mixed-Use Components
Additional Details
Multifamily Units
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Units
Construction
Tenancy
Listing Agency:
5 Boro Realty Corp
(855) 305-3325
Listed By:
Gabrielle Winters · License #10401353795
(917) 763-0331
Source:
Croninreale
Added: Sep 24
Changed: Nov 6
Last Checked: Nov 6 at 3:56PM
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 5 Boro Realty Corp
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Investment Insights
Based on property information with market context.
This three-story brick mixed-use property contains a ground-floor store and two apartments above. The building is fully occupied and dates to 1930, with 4,140 square feet reported for the property. R5 zoning is listed.
The property is on Cornaga Avenue in Far Rockaway, a short walk from the A train at Beach 22nd Street and near the Mott Avenue shopping corridor. It may be sold together with two adjoining mixed-use buildings on the same block.
The property is on Cornaga Avenue in Far Rockaway, a short walk from the A train at Beach 22nd Street and near the Mott Avenue shopping corridor. It may be sold together with two adjoining mixed-use buildings on the same block.
Key Highlights
- Three‑story brick building with a ground‑floor store and two apartments
- 4,140 square feet; built in 1930
- Fully occupied
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?
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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
$649,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/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 and two upper-level apartments are fully occupied in this brick property.
Where is this mixed-use property located?
The property is located at 2120 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 with a ground‑floor store and two apartments; 4,140 square feet; built in 1930; Fully occupied
