Mixed-Use Building with
For Sale
$2,388,000
31-04 107th Street, East Elmhurst, NY 11369
Built in 2021, the property includes six leased 1-bedroom apartments and an occupied storefront barbershop.
Property Size4,179 SF
Days on Market236
Property Features for 31-04 107th Street
General Information
Standard status
Active
Size
4,179 SF
Total Parking Spaces
1
Property subtype
Multi Family
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$40,236
Amenities
private balconies
backyard
Building Details
Building Size
4,179 SF
Year Built
2021
Listing Agency:
Daniel Gale Sothebys Intl Rlty
Listed By:
Hillary Y. Li CBR
(516) 992-2888
Source:
Barbieliteam
Added: Mar 6
Changed: Oct 27
Last Checked: Oct 26 at 11:12PM
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 Daniel Gale Sothebys Intl Rlty
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Investment Insights
Based on property information with market context.
Built in 2021, this mixed-use property features six residential units plus one ground-floor storefront. The residential portion consists of six 1-bedroom, 1-bathroom apartments, with some units offering private balconies. The storefront is currently occupied by a barbershop.
The building is modernly constructed with separate boilers, heating systems, electric meters, and gas meters for each unit. The owner is responsible only for water. The property includes one parking spot and access to a backyard.
All units are currently occupied, providing the next owner with an opportunity to begin collecting rental income immediately. The location offers convenient access to the Grand Central Parkway and nearby 7 train service, with bus routes providing additional connections toward Manhattan and surrounding areas. The property is also close to Flushing Meadows–Corona Park, Citi Field, as well as restaurants, shopping, and everyday conveniences.
The building is modernly constructed with separate boilers, heating systems, electric meters, and gas meters for each unit. The owner is responsible only for water. The property includes one parking spot and access to a backyard.
All units are currently occupied, providing the next owner with an opportunity to begin collecting rental income immediately. The location offers convenient access to the Grand Central Parkway and nearby 7 train service, with bus routes providing additional connections toward Manhattan and surrounding areas. The property is also close to Flushing Meadows–Corona Park, Citi Field, as well as restaurants, shopping, and everyday conveniences.
Key Highlights
- Built in 2021 mixed‑use building with 6 occupied 1‑bedroom, 1‑bath apartments plus 1 storefront
- Storefront is occupied by a barbershop; all units currently occupied for immediate rental income
- Separate boilers, heating systems, electric meters, and gas meters for each unit; owner responsible only for water
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$102,153
Cap Rate
4.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,043,060
$2.0M
Cap Rate 7%
$1,459,329
$1.5M
Cap Rate 9%
$1,135,033
$1.1M
Market Conditions
NOI Build-Up for 4,179 SF
Gross rent
$193.1K $46.20/SF
− Vacancy
−$7.3K −$1.76/SF
EGI
$185.7K $44.44/SF
− OpEx
−$83.6K −$20.00/SF
NOI
$102.2K $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%
$2,043,060
Cap Rate 7%
$1,459,329
Cap Rate 9%
$1,135,033
Alternative Uses
Best Use
Apartment 5plus
$1.46M
$1.28M – $1.70M
NOI $102,153 @ 7.0% cap · market cap 4.28%
Second Best
Retail
$1.07M
$932.4K – $1.24M
NOI $74,595 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$3.08M
$2.70M – $3.59M
NOI $215,656 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with authorities.
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Who owns this building?
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Current Use
Lease Details
6
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,169
Businesses Nearby
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Business Placement
Demographics for 11369, NY
40,805
Population
13,893
Households
2.9
Avg Household Size
37
Median Age
24%
College-Educated
79%
High-School Grad
1.1 sq mi
ZIP Area
37,095
Density / Sq Mi
$80,577
Median Household Income
$40,089
Median Earnings
$1,983
Median Rent
$734,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Built in 2021, the property includes six leased 1-bedroom apartments and an occupied storefront barbershop.
Where is this apartment building located?
The property is located at 31-04 107th Street East Elmhurst, NY.
What is the asking price?
The asking price for this property is $2,388,000.
What are key features of this property?
This property features: Built in 2021 mixed‑use building with 6 occupied 1‑bedroom, 1‑bath apartments plus 1 storefront; Storefront is occupied by a barbershop; all units currently occupied for immediate rental income; Separate boilers, heating systems, electric meters, and gas meters for each unit; owner responsible only for water
