Mixed-Use Property with
For Sale
$1,800,000
3617 Greenpoint Avenue, Long Island City, NY 11101
Three residential units accompany an attached storefront, with free-market rental status across the property.
Property Size3,200 SF
Price / SF$562.50
Days on Market11
Property Features for 3617 Greenpoint Avenue
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Residential Income
Additional Details
Mixed-Use Components
residential, retail
Taxes and HOA fees
Annual Taxes
$37,903
Amenities
Common
No
Yes
First Floor Bedroom
Public
3200
Building Details
Building Size
3,200 SF
Year Built
1931
Buildings
1
Listing Agency:
(516) 703-2918
Listed By:
Michael Giordano
Source:
Hedgestonehomes
Added: Oct 21
Changed: Oct 29
Last Checked: Oct 28 at 2:44PM
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 Michael Giordano
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Investment Insights
Based on property information with market context.
Built in 1931, this mixed-use property combines a three-family residence with an attached storefront. Electrical systems have been updated, and the residential units are free-market rentals.
An LIRR station is nearby, providing rail access close to the property.
An LIRR station is nearby, providing rail access close to the property.
Key Highlights
- Three‑family residence with an attached storefront
- All residential units are free‑market rentals
- Electrical systems have been updated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,222
Cap Rate
4.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,564,440
$1.6M
Cap Rate 7%
$1,117,457
$1.1M
Cap Rate 9%
$869,133
$869.1K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$147.8K $46.20/SF
− Vacancy
−$5.6K −$1.76/SF
EGI
$142.2K $44.44/SF
− OpEx
−$64.0K −$20.00/SF
NOI
$78.2K $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%
$1,564,440
Cap Rate 7%
$1,117,457
Cap Rate 9%
$869,133
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$977.8K – $1.30M
NOI $78,222 @ 7.0% cap · market cap 4.35%
Second Best
Retail
$816.0K
$714.0K – $952.0K
NOI $57,120 @ 7.0% cap · market cap 3.17%
Theoretical Best
Office A
$2.36M
$2.06M – $2.75M
NOI $165,135 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
3,384
Businesses Nearby
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Business Placement
Demographics for 11101, NY
48,867
Population
27,093
Households
1.8
Avg Household Size
33
Median Age
65%
College-Educated
90%
High-School Grad
2.6 sq mi
ZIP Area
18,795
Density / Sq Mi
$116,807
Median Household Income
$83,892
Median Earnings
$2,740
Median Rent
$995,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three residential units accompany an attached storefront, with free-market rental status across the property.
Where is this mixed-use property located?
The property is located at 3617 Greenpoint Avenue Long Island City, NY.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Three‑family residence with an attached storefront; All residential units are free‑market rentals; Electrical systems have been updated
