Mixed-Use Building in Excellent
For Sale
$3,800,000
3924 108th St, Queens, NY 11368
Mixed-use property with commercial and residential units, great location.
Property Size3,632 SF
Lot Size0.05 Acres
Days on Market266
Property Features for 3924 108th St
General Information
Standard status
Active
Size
3,632 SF
Lot size
0.05 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$68,979
Building Details
Building Size
3,632 SF
Year Built
1930
Units
8
Listing Agency:
(347) 529-8899
Listed By:
Angela Lu Mullen
(347) 529-8899
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 15
Last Checked: Aug 20 at 8:42AM
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 Angela Lu Mullen
Investment Insights
Based on property information with market context.
This mixed-use property features six commercial stores and two residential apartments. The commercial tenants currently include a restaurant, grocery store, juice bar, barbershop, office, and a bicycle shop located on the second floor. The residential units consist of a 1-bedroom apartment and a 3-bedroom apartment. All tenants are currently on expired leases, which allows a new owner to establish updated lease agreements at market rates. The property is located in Queens, NY.
Key Highlights
- Excellent location for this mixed‑use building.
- Mixed‑use building featuring both commercial and residential spaces.
- Six commercial stores with a diverse tenant mix.
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
$168,098
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
4.42%
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%
$3,361,960
$3.4M
Cap Rate 7%
$2,401,400
$2.4M
Cap Rate 9%
$1,867,756
$1.9M
Market Conditions
NOI Build-Up for 3,632 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
$239.7K $66.00/SF
− Vacancy
−$15.6K −$4.29/SF
EGI
$224.1K $61.71/SF
− OpEx
−$56.0K −$15.43/SF
NOI
$168.1K $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 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%
$3,361,960
Cap Rate 7%
$2,401,400
Cap Rate 9%
$1,867,756
Alternative Uses
Best Use
Specialty Retail
$2.40M
$2.10M – $2.80M
NOI $168,098 @ 7.0% cap · market cap 4.42%
Second Best
Apartment 5plus
$1.27M
$1.11M – $1.48M
NOI $88,782 @ 7.0% cap · market cap 2.34%
Theoretical Best
Office A
$2.68M
$2.34M – $3.12M
NOI $187,429 @ 7.0% cap · market cap 4.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,548
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?
Mixed-use property - Mixed-use property with commercial and residential units, great location.
Where is this mixed-use property located?
The property is located at 3924 108th St Queens, NY.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: Excellent location for this mixed‑use building.; Mixed‑use building featuring both commercial and residential spaces.; Six commercial stores with a diverse tenant mix.
