Duplex with Beauty Salon and Two
For Sale
$1,850,000
34-12 192nd Street, Flushing, NY 11358
R5B zoned duplex with a first-floor beauty salon and two second-floor 1-bedroom, 1-bath residences.
Property Size2,704 SF
Lot Size0.09 Acres
Days on Market193
Property Features for 34-12 192nd Street
General Information
Standard status
Active
Size
2,704 SF
Total Parking Spaces
3
Lot size
0.09 Acres
Property subtype
Duplex
Zoning
R5B
Taxes and HOA fees
Annual Taxes
$11,075
Building Details
Building Size
2,704 SF
Year Built
1970
Buildings
1
Tenancy
Multi
Listing Agency:
Jamie Realty Group
(718) 886-0668
Listed By:
Xiao Zheng · License #10491212408
Source:
Barbieliteam
Added: Feb 9
Changed: Aug 8
Last Checked: Aug 21 at 11:53AM
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 Jamie Realty Group
Investment Insights
Based on property information with market context.
This completely remodeled duplex is a detached, mixed-use property designed to combine business and residential space. The first floor features a beauty salon, and the second floor has two residential units, each with one bedroom, one bathroom, a living room, and a functional kitchen. The property sits on a 40’x100’ lot with a 26.5’x52’ building footprint and was completely remodeled about 3 years ago.
The building is zoned R5B and includes a private driveway and backyard, with a 3-car driveway for off-street parking. Built in 1970, the layout also allows for the owner to add one more floor above the current structure, subject to applicable requirements. The location provides convenient access to the Q28 and Q76 bus lines and the Auburndale LIRR station, with nearby shops, restaurants, parks, and schools.
Overall, the property offers a straightforward setup for an owner-operator or an investor seeking a duplex configuration that pairs a professional storefront with two separate residential units.
The building is zoned R5B and includes a private driveway and backyard, with a 3-car driveway for off-street parking. Built in 1970, the layout also allows for the owner to add one more floor above the current structure, subject to applicable requirements. The location provides convenient access to the Q28 and Q76 bus lines and the Auburndale LIRR station, with nearby shops, restaurants, parks, and schools.
Overall, the property offers a straightforward setup for an owner-operator or an investor seeking a duplex configuration that pairs a professional storefront with two separate residential units.
Key Highlights
- R5B zoned detached duplex with first‑floor beauty salon plus two second‑floor residential units
- 40’x100’ lot with 26.5’x52’ building footprint
- Completely remodeled about 3 years ago
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
$66,098
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
3.57%
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%
$1,321,960
$1.3M
Cap Rate 7%
$944,257
$944.3K
Cap Rate 9%
$734,422
$734.4K
Market Conditions
NOI Build-Up for 2,704 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
$124.9K $46.20/SF
− Vacancy
−$4.7K −$1.76/SF
EGI
$120.2K $44.44/SF
− OpEx
−$54.1K −$20.00/SF
NOI
$66.1K $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%
$1,321,960
Cap Rate 7%
$944,257
Cap Rate 9%
$734,422
Alternative Uses
Best Use
Apartment 5plus
$944.3K
$826.2K – $1.10M
NOI $66,098 @ 7.0% cap · market cap 3.57%
Second Best
Multifamily LT 5
$639.4K
$559.5K – $745.9K
NOI $44,756 @ 7.0% cap · market cap 2.42%
Theoretical Best
Office A
$1.99M
$1.74M – $2.33M
NOI $139,539 @ 7.0% cap · market cap 7.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,278
Businesses Nearby
Explore this area
Business Placement
Demographics for 11358, NY
40,435
Population
13,806
Households
2.9
Avg Household Size
43
Median Age
37%
College-Educated
84%
High-School Grad
2.0 sq mi
ZIP Area
20,218
Density / Sq Mi
$88,729
Median Household Income
$46,875
Median Earnings
$2,086
Median Rent
$967,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - R5B zoned duplex with a first-floor beauty salon and two second-floor 1-bedroom, 1-bath residences.
Where is this duplex located?
The property is located at 34-12 192nd Street Flushing, NY.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: R5B zoned detached duplex with first‑floor beauty salon plus two second‑floor residential units; 40’x100’ lot with 26.5’x52’ building footprint; Completely remodeled about 3 years ago
