Mixed-Use Property with Retail
For Sale
$1,299,999
224-08 Linden Boulevard, Cambria Heights, NY 11411
Two commercial spaces and residential rental units create a multi-component property with additional basement area.
Property Size3,246 SF
Days on Market186
Property Features for 224-08 Linden Boulevard
General Information
Standard status
Active
Size
3,246 SF
Property subtype
Commercial
Additional Details
Road Access
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$13,500
Building Details
Building Size
3,246 SF
Year Built
1941
Stories
3
Units
6
Tenancy
Multi
Listing Agency:
Exit Realty United
(917) 821-0921
Listed By:
Bertha Narcisse
(917) 821-0921
Source:
Cohenandcohenrealty
Added: Feb 4
Changed: Aug 7
Last Checked: Aug 9 at 12:51PM
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 Exit Realty United
Investment Insights
Based on property information with market context.
This mixed-use property combines two ground-floor retail storefronts with a residential component configured for three to four rental units. A full basement adds usable space within the building, which was constructed in 1941.
Located on Linden Boulevard in Cambria Heights, the property provides access to transportation, shopping, and major roadways. The combination of commercial and residential areas supports multiple income streams and accommodates either an owner-user or investment-oriented ownership structure.
Located on Linden Boulevard in Cambria Heights, the property provides access to transportation, shopping, and major roadways. The combination of commercial and residential areas supports multiple income streams and accommodates either an owner-user or investment-oriented ownership structure.
Key Highlights
- Two ground‑floor retail storefronts
- Residential component configured for 3 to 4 rental units
- Full basement provides additional usable space
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
$79,347
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
6.10%
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%
$1,586,940
$1.6M
Cap Rate 7%
$1,133,529
$1.1M
Cap Rate 9%
$881,633
$881.6K
Market Conditions
NOI Build-Up for 3,246 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
$150.0K $46.20/SF
− Vacancy
−$5.7K −$1.76/SF
EGI
$144.3K $44.44/SF
− OpEx
−$64.9K −$20.00/SF
NOI
$79.3K $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%
$1,586,940
Cap Rate 7%
$1,133,529
Cap Rate 9%
$881,633
Alternative Uses
Best Use
Apartment 5plus
$1.13M
$991.8K – $1.32M
NOI $79,347 @ 7.0% cap · market cap 6.10%
Second Best
Retail
$827.7K
$724.3K – $965.7K
NOI $57,941 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$2.39M
$2.09M – $2.79M
NOI $167,509 @ 7.0% cap · market cap 12.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,044
Businesses Nearby
Explore this area
Business Placement
Demographics for 11411, NY
19,579
Population
6,775
Households
2.9
Avg Household Size
45
Median Age
36%
College-Educated
92%
High-School Grad
1.2 sq mi
ZIP Area
16,316
Density / Sq Mi
$118,393
Median Household Income
$52,378
Median Earnings
$1,605
Median Rent
$621,500
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 - Two commercial spaces and residential rental units create a multi-component property with additional basement area.
Where is this mixed-use property located?
The property is located at 224-08 Linden Boulevard Cambria Heights, NY.
What is the asking price?
The asking price for this property is $1,299,999.
What are key features of this property?
This property features: Two ground‑floor retail storefronts; Residential component configured for 3 to 4 rental units; Full basement provides additional usable space
