Mixed-Use Property with Medical
New
For Sale
$2,280,000
39-20 29th Street, Long Island City, NY 11101
The existing configuration brings together residential space, a pharmacy, and a medical office.
Property Size2,000 SF
Days on Market4
Property Features for 39-20 29th Street
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Mixed Use
Zoning
M1-2R5D
Land
Land Use
residential, commercial
Entitled
No
Taxes and HOA fees
Annual Taxes
$7,057
Amenities
Backyard
Building Details
Building Size
2,000 SF
Year Built
1930
Listing Agency:
Winzone Realty Inc
Listed By:
Vlaho Baletin CBR ABR · License #1063714
Source:
Serhant
Added: Oct 16
Changed: Oct 19
Last Checked: Oct 19 at 12:18PM
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 Winzone Realty Inc
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Investment Insights
Based on property information with market context.
Built in 1930, this mixed-use property at 39-20 29th Street includes a one-family residence, a three-bedroom apartment, a medical office, and a pharmacy. Additional features include a finished basement and backyard. The property is to be delivered vacant at closing.
The site is zoned M1-2R5D within the Special LIC Mixed Use District. Preliminary information indicates approximately 7,500+ SF of buildable area; any development capacity is subject to zoning and architectural confirmation.
The site is zoned M1-2R5D within the Special LIC Mixed Use District. Preliminary information indicates approximately 7,500+ SF of buildable area; any development capacity is subject to zoning and architectural confirmation.
Key Highlights
- M1‑2R5D zoning within the Special LIC Mixed Use District
- Preliminary buildable area of approximately 7,500+ SF, subject to zoning and architectural confirmation
- Includes a medical office, pharmacy, and three‑bedroom apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,565
Cap Rate
4.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,851,300
$1.9M
Cap Rate 7%
$1,322,357
$1.3M
Cap Rate 9%
$1,028,500
$1.0M
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$132.0K $66.00/SF
− Vacancy
−$8.6K −$4.29/SF
EGI
$123.4K $61.71/SF
− OpEx
−$30.9K −$15.43/SF
NOI
$92.6K $46.28/SF
Area
Queens County, NY
Vacancy
6.50%
Lease Rate
$66.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,851,300
Cap Rate 7%
$1,322,357
Cap Rate 9%
$1,028,500
Alternative Uses
Best Use
Specialty Retail
$1.32M
$1.16M – $1.54M
NOI $92,565 @ 7.0% cap · market cap 4.06%
Second Best
Office B
$940.7K
$823.1K – $1.10M
NOI $65,848 @ 7.0% cap · market cap 2.89%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,210 @ 7.0% cap · market cap 4.53%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,590
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The existing configuration brings together residential space, a pharmacy, and a medical office.
Where is this mixed-use property located?
The property is located at 39-20 29th Street Long Island City, NY.
What is the asking price?
The asking price for this property is $2,280,000.
What are key features of this property?
This property features: M1‑2R5D zoning within the Special LIC Mixed Use District; Preliminary buildable area of approximately 7,500+ SF, subject to zoning and architectural confirmation; Includes a medical office, pharmacy, and three‑bedroom apartment
