Building Details

Year Built 1931

Buildings 1

Stories 2

Listing Agency: Neil Charles Real Estate

Listed By: Ann Stettner · License #10401201931 Show Phone

Source: Neilcharlesrealestate

Added: Oct 6 Changed: Oct 30 Last Checked: Oct 30 at 2:00AM

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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 Neil Charles Real Estate

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Investment Insights

Based on property information with market context.

This mixed-use property combines a ground-floor retail storefront with a three-bedroom, one-bathroom apartment on the second floor. The retail area is 1,800 square feet, and the building includes a full basement. Built in 1931, the property occupies a 20-by-45-foot lot.

The address is 41-45 150th Street in New York, with walking access to the Long Island Rail Road.

Key Highlights

• 1,800‑square‑foot ground‑floor retail storefront
• Three‑bedroom, one‑bathroom apartment on the second floor
• Full basement

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$57,375

Cap Rate

4.78%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,147,500 $1.1M

Cap Rate 7%

$819,643 $819.6K

Cap Rate 9%

$637,500 $637.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,800 SF

Gross rent

$108.0K $60.00/SF

− Vacancy

−$16.2K −$9.00/SF

EGI

$91.8K $51.00/SF

− OpEx

−$34.4K −$19.13/SF

NOI

$57.4K $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 Rate 5%

$1,147,500

Cap Rate 7%

$819,643

Cap Rate 9%

$637,500

Alternative Uses

Best Use

Retail

$3.62M

$3.17M – $4.22M (±1% cap)

NOI $253,304 @ 7.0% cap · market cap 21.11%

Second Best

Mixed Use

$819.6K

$717.2K – $956.3K (±1% cap)

NOI $57,375 @ 7.0% cap · market cap 4.78%

Theoretical Best

Specialty Retail

$4.48M

$3.92M – $5.23M (±1% cap)

NOI $313,632 @ 7.0% cap · market cap 26.14%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Nursing Home (Bike/Boat/Book/etc) Store Carpet & Flooring Store Catering Service Bed & Breakfast Pet Grooming Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Residential units

Location Intelligence

Trade Area within ½ mile

4,128

Businesses Nearby

124k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 40% Shops & Services 31% Groceries 23% Electronics 3%

H Mart Groceries

28,749 visits/mo 0.3 miles

Paris Baguette Dining

18,182 visits/mo 0.3 miles

AutoZone Shops & Services

15,287 visits/mo 0.4 miles

IHOP Dining

13,109 visits/mo 0.4 miles

KFC Dining

10,672 visits/mo 0.4 miles

Demographics for 11355, NY

89,465

Population

32,049

Households

2.8

Avg Household Size

44

Median Age

24%

College-Educated

70%

High-School Grad

1.7 sq mi

ZIP Area

52,626

Density / Sq Mi

$53,700

Median Household Income

$31,166

Median Earnings

$1,664

Median Rent

$711,500

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - A second-floor apartment provides residential space above the ground-level retail area.

Where is this mixed-use property located?

The property is located at 41-45 150th Street New York, NY.

What is the asking price?

The asking price for this property is $1,200,000.

What are key features of this property?

This property features: 1,800‑square‑foot ground‑floor retail storefront; Three‑bedroom, one‑bathroom apartment on the second floor; Full basement