Renovated Mixed-Use
For Sale
$1,688,000
41-53 53rd Street, Woodside, NY 11377
Ground-floor commercial space accompanies two upper-level residences with separately metered utilities and transit access.
Property Size2,310 SF
Days on Market174
Property Features for 41-53 53rd Street
General Information
Standard status
Active
Size
2,310 SF
Property subtype
Commercial
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$10,504
Building Details
Building Size
2,310 SF
Year Renovated
2017
Listing Agency:
Sweet Key Realty Group Inc
(347) 323-2443
Listed By:
Qun D. Lin
(347) 323-2443
Source:
Cornerstonemyhome
Added: Mar 10
Changed: Aug 28
Last Checked: Aug 29 at 10:22AM
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 Sweet Key Realty Group Inc
Investment Insights
Based on property information with market context.
Renovated in 2017, this mixed-use building combines a ground-floor commercial area with two residential units above. The commercial space is suited to retail or service occupancy, while the upper units provide functional residential layouts with natural light. Separate utilities serve the commercial and residential components.
The property is located at 41-53 53rd Street in Woodside, NY, in an area supported by public transportation and convenient commuting access. Its combination of commercial and residential space creates a straightforward mixed-use configuration for an owner-user or investor.
The property is located at 41-53 53rd Street in Woodside, NY, in an area supported by public transportation and convenient commuting access. Its combination of commercial and residential space creates a straightforward mixed-use configuration for an owner-user or investor.
Key Highlights
- Renovated in 2017
- Ground‑floor commercial space for retail or service use
- Two residential units above the commercial area
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
$56,467
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
3.35%
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%
$1,129,340
$1.1M
Cap Rate 7%
$806,671
$806.7K
Cap Rate 9%
$627,411
$627.4K
Market Conditions
NOI Build-Up for 2,310 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
$106.7K $46.20/SF
− Vacancy
−$4.1K −$1.76/SF
EGI
$102.7K $44.44/SF
− OpEx
−$46.2K −$20.00/SF
NOI
$56.5K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
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%
$1,129,340
Cap Rate 7%
$806,671
Cap Rate 9%
$627,411
Alternative Uses
Best Use
Apartment 5plus
$806.7K
$705.8K – $941.1K
NOI $56,467 @ 7.0% cap · market cap 3.35%
Second Best
Retail
$589.1K
$515.4K – $687.2K
NOI $41,234 @ 7.0% cap · market cap 2.44%
Theoretical Best
Office A
$1.70M
$1.49M – $1.99M
NOI $119,207 @ 7.0% cap · market cap 7.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,276
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 - Ground-floor commercial space accompanies two upper-level residences with separately metered utilities and transit access.
Where is this mixed-use property located?
The property is located at 41-53 53rd Street Woodside, NY.
What is the asking price?
The asking price for this property is $1,688,000.
What are key features of this property?
This property features: Renovated in 2017; Ground‑floor commercial space for retail or service use; Two residential units above the commercial area
