Mixed-Use Retail and Residential
For Sale
$2,990,000
3812 111TH ST, Flushing, NY 11368
Mixed-use property with ground-floor retail and five residential units, offering diversified income in a high-rental-demand area.
Property Size6,751 SF
Price / SF$442.90
Days on Market200
Property Features for 3812 111TH ST
General Information
Standard status
Active
Size
6,751 SF
Property subtype
Mixed Use
Additional Details
Cap Rate
7.44%
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$10,407
Amenities
Window/Wall Unit
3
Building Details
Year Built
2014
Listing Agency:
B Square Realty
(718) 939-8388
Listed By:
Li Li
(646) 889-9988
Source:
Xome
Added: Feb 18
Changed: Sep 4
Last Checked: Sep 5 at 5:13AM
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 B Square Realty
Investment Insights
Based on property information with market context.
This mixed-use property features one ground-floor retail space and five residential units, creating a diversified income stream. The asset is presented as an income-producing investment, with a stated 7.44% cap rate in the public remarks.
Located in Corona, Queens, the property is described as being just moments from major commercial corridors and everyday retail, with convenient access to subway lines and multiple bus routes. Public remarks also cite proximity to supermarkets, restaurants, schools, and parks.
For investors and operators seeking a single building that combines street-level retail with in-place residential units, this configuration offers a straightforward mix of commercial and residential cash flow within one address.
Located in Corona, Queens, the property is described as being just moments from major commercial corridors and everyday retail, with convenient access to subway lines and multiple bus routes. Public remarks also cite proximity to supermarkets, restaurants, schools, and parks.
For investors and operators seeking a single building that combines street-level retail with in-place residential units, this configuration offers a straightforward mix of commercial and residential cash flow within one address.
Key Highlights
- 7.44% cap rate mixed‑use investment with diversified income from ground‑floor retail and five residential units
- Built in 2014 mixed‑use building with one ground‑floor retail space plus five residential units
- One retail storefront and five residential units for a split income stream
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
$165,024
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
5.52%
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%
$3,300,480
$3.3M
Cap Rate 7%
$2,357,486
$2.4M
Cap Rate 9%
$1,833,600
$1.8M
Market Conditions
NOI Build-Up for 6,751 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
$311.9K $46.20/SF
− Vacancy
−$11.9K −$1.76/SF
EGI
$300.0K $44.44/SF
− OpEx
−$135.0K −$20.00/SF
NOI
$165.0K $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%
$3,300,480
Cap Rate 7%
$2,357,486
Cap Rate 9%
$1,833,600
Alternative Uses
Best Use
Apartment 5plus
$2.36M
$2.06M – $2.75M
NOI $165,024 @ 7.0% cap · market cap 5.52%
Second Best
Retail
$1.72M
$1.51M – $2.01M
NOI $120,505 @ 7.0% cap · market cap 4.03%
Theoretical Best
Office A
$4.98M
$4.35M – $5.81M
NOI $348,384 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,845
Businesses Nearby
Explore this area
Business Placement
Demographics for 11368, NY
117,110
Population
31,165
Households
3.8
Avg Household Size
34
Median Age
14%
College-Educated
65%
High-School Grad
2.6 sq mi
ZIP Area
45,042
Density / Sq Mi
$71,798
Median Household Income
$33,742
Median Earnings
$1,925
Median Rent
$751,700
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?
Apartment building - Mixed-use property with ground-floor retail and five residential units, offering diversified income in a high-rental-demand area.
Where is this apartment building located?
The property is located at 3812 111TH ST Flushing, NY.
What is the asking price?
The asking price for this property is $2,990,000.
What are key features of this property?
This property features: 7.44% cap rate mixed‑use investment with diversified income from ground‑floor retail and five residential units; Built in 2014 mixed‑use building with one ground‑floor retail space plus five residential units; One retail storefront and five residential units for a split income stream
