Mixed-Use Building with Six
For Sale
Contact for pricing
4021 69th Street, New York, NY 11377
R5D-zoned property combines commercial and residential occupancy in a fully leased building.
Property Size4,160 SF
Lot Size0.04 Acres
Price / SF$512.02
Days on Market161
Property Features for 4021 69th Street
General Information
Standard status
Active
Size
4,160 SF
Lot size
0.04 Acres
Property subtype
Multifamily
Zoning
R5D
Occupancy
100%
Net Operating Income
$106,714
Units
Unit Mix
2 x studio, 2 x 1BR, 1 x 3BR
Multifamily Units
5
Additional Details
Gross Income
$162,914
Public Transit
Yes
Building Details
Year Built
2006
Units
6
Listing Agency:
Promise Realty LLC
(516) 502-4480
Listed By:
Seon Hyun
Source:
Crexi
Added: Mar 23
Changed: Aug 30
Last Checked: Aug 30 at 5:03AM
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 Promise Realty LLC
Investment Insights
Based on property information with market context.
Completed in 2006, this mixed-use property contains 4,160 square feet of building area on a 1,701-square-foot lot. The configuration includes one commercial space and five residential units: two studios, two one-bedroom units, and one three-bedroom unit. The property is fully rented, and occupants pay their own utilities.
The building is near 69th Street, Roosevelt Avenue, and Jackson Heights station, providing access to established commercial and transit corridors. R5D zoning supports the property’s documented mixed-use configuration.
The six-unit layout combines diversified residential unit types with a commercial component in a maintained building. The existing occupancy and utility arrangement are already in place for the current operation.
The building is near 69th Street, Roosevelt Avenue, and Jackson Heights station, providing access to established commercial and transit corridors. R5D zoning supports the property’s documented mixed-use configuration.
The six-unit layout combines diversified residential unit types with a commercial component in a maintained building. The existing occupancy and utility arrangement are already in place for the current operation.
Key Highlights
- 4,160 SF building on a 1,701 SF lot
- Six‑unit configuration with one commercial and five residential units
- Residential mix includes two studios, two one‑bedroom units, and one three‑bedroom unit
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
$132,600
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
6.23%
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%
$2,652,000
$2.7M
Cap Rate 7%
$1,894,286
$1.9M
Cap Rate 9%
$1,473,333
$1.5M
Market Conditions
NOI Build-Up for 4,160 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
$249.6K $60.00/SF
− Vacancy
−$37.4K −$9.00/SF
EGI
$212.2K $51.00/SF
− OpEx
−$79.6K −$19.13/SF
NOI
$132.6K $31.88/SF
Area
New York, NY
Vacancy
15.00%
Lease Rate
$60.00 /SF/Yr
Expense Ratio
37.50%
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%
$2,652,000
Cap Rate 7%
$1,894,286
Cap Rate 9%
$1,473,333
Alternative Uses
Best Use
Mixed Use
$1.89M
$1.66M – $2.21M
NOI $132,600 @ 7.0% cap · market cap 6.23%
Second Best
Apartment 5plus
$1.86M
$1.63M – $2.17M
NOI $130,155 @ 7.0% cap · market cap 6.11%
Theoretical Best
Specialty Retail
$10.35M
$9.06M – $12.08M
NOI $724,838 @ 7.0% cap · market cap 34.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
486
Businesses Nearby
Explore this area
Business Placement
Demographics for 11377, NY
91,512
Population
34,928
Households
2.6
Avg Household Size
39
Median Age
33%
College-Educated
82%
High-School Grad
2.5 sq mi
ZIP Area
36,605
Density / Sq Mi
$73,292
Median Household Income
$45,978
Median Earnings
$1,802
Median Rent
$670,300
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 - R5D-zoned property combines commercial and residential occupancy in a fully leased building.
Where is this mixed-use property located?
The property is located at 4021 69th Street New York, NY.
What is the asking price?
The asking price for this property is $2,130,000.
What are key features of this property?
This property features: 4,160 SF building on a 1,701 SF lot; Six‑unit configuration with one commercial and five residential units; Residential mix includes two studios, two one‑bedroom units, and one three‑bedroom unit
