Mixed-Use Building Near
For Sale
Contact for pricing
Pending
40-42 82nd St, Queens, NY 11373
Mixed-use building near subway and retail in Queens.
Property Size4,572 SF
Lot Size0.05 Acres
Days on Market1596
Property Features for 40-42 82nd St
General Information
Standard status
Pending
Size
4,572 SF
Lot size
0.05 Acres
Property subtype
Mixed Use, Retail
Zoning
R6, C1-3
Lease Type
Gross
Net Operating Income
$78,995
Building Details
Stories
3
Units
3
Tenancy
Multi
Listing Agency:
East Coast New York Inc.
Listed By:
Eric Li · License #10301218578
(917) 974-0992
Source:
Crexi
Added: Apr 25, 2022
Changed: Aug 31
Last Checked: Sep 4 at 3:32AM
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 East Coast New York Inc.
Investment Insights
Based on property information with market context.
This mixed-use building is located one block from the 82nd Street subway station, which services the 7 train and has an annual ridership of over 5 million. It is also a short distance from the 74 Street - Broadway Train station, with access to the 7, E, F, M, and R lines. The property is half a block from Elmhurst Hospital and across the street from a new retail development that includes Target, Chipotle Mexican Grill, Starbucks, Chick-Fil-A, and Smash Burger. Situated at the heart of 82nd Street, the primary shopping corridor for Jackson Heights and Elmhurst, the building is surrounded by national retailers in a densely populated neighborhood. The lot size is 20 x 100, and the building size is 20 x 84 irregular, totaling 4,344 square feet across three floors. The zoning is R6/C1-3, with a FAR of 2.43 for residential and 4.8 for facility use. The property requires some work and presents a huge upside potential. The tax is $32,617.
Key Highlights
- Prime location in the heart of 82nd Street shopping corridor, surrounded by national retailers.
- High‑traffic location: One block to the 82nd Street subway station (7 train) and short distance to the 74 Street - Broadway Train station (7, E, F, M, R).
- Close proximity to Elmhurst Hospital.
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
$81,610
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
2.86%
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%
$1,632,200
$1.6M
Cap Rate 7%
$1,165,857
$1.2M
Cap Rate 9%
$906,778
$906.8K
Market Conditions
NOI Build-Up for 4,572 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
$137.2K $30.00/SF
− Vacancy
−$20.6K −$4.50/SF
EGI
$116.6K $25.50/SF
− OpEx
−$35.0K −$7.65/SF
NOI
$81.6K $17.85/SF
Area
Queens County, NY
Vacancy
15.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,632,200
Cap Rate 7%
$1,165,857
Cap Rate 9%
$906,778
Alternative Uses
Best Use
Retail
$1.17M
$1.02M – $1.36M
NOI $81,610 @ 7.0% cap · market cap 2.86%
Second Best
Mixed Use
$840.6K
$735.5K – $980.7K
NOI $58,842 @ 7.0% cap · market cap 2.06%
Theoretical Best
Office A
$3.37M
$2.95M – $3.93M
NOI $235,937 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,060
Businesses Nearby
200k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 49%
Shops & Services 39%
Home Improvements & Furnishings 8%
Electronics 4%
McDonald's
Dining
42,064 visits/mo
0.3 miles
White Castle
Dining
21,521 visits/mo
0.3 miles
Speedway
Shops & Services
19,441 visits/mo
0.4 miles
Citibank
Shops & Services
16,364 visits/mo
0.2 miles
TD Bank
Shops & Services
16,130 visits/mo
0.4 miles
Demographics for 11373, NY
105,712
Population
34,797
Households
3
Avg Household Size
38
Median Age
30%
College-Educated
75%
High-School Grad
1.5 sq mi
ZIP Area
70,475
Density / Sq Mi
$71,470
Median Household Income
$36,043
Median Earnings
$1,913
Median Rent
$683,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building near subway and retail in Queens.
Where is this mixed-use property located?
The property is located at 40-42 82nd St Queens, NY.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: Prime location in the heart of 82nd Street shopping corridor, surrounded by national retailers.; High‑traffic location: One block to the 82nd Street subway station (7 train) and short distance to the 74 Street - Broadway Train station (7, E, F, M, R).; Close proximity to Elmhurst Hospital.
