42-16 235th Street, Douglaston, NY 11363

Building Details

Building Size 4,000 SF More

Year Built 1970 More

Buildings 1 More

Stories 3 More

Tenancy Multi More

Listing Agency: Good Choice Realty & Mgmt Corp

Listed By: Joann Lee · License NY KEY42400 Show Phone

Source: Cottiemaxwellrealestate

Added: Nov 8 Changed: Nov 13 Last Checked: Nov 12 at 6:01PM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This mixed-use property places a pharmacy on the ground level, with one three-bedroom, 1.5-bath residence on each of the two upper floors. Both apartments have updated kitchens with granite counters. The building dates to 1970 and includes a walk-out basement with laundry, along with three parking spaces.

The property is near a Long Island Rail Road station and a shopping area.

Key Highlights

• Ground‑floor pharmacy with two upper‑level 3‑bedroom residences
• Each residence has 1.5 baths and an updated kitchen with granite counters
• Walk‑out basement includes laundry

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$98,843

Cap Rate

6.18%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,976,860 $2.0M

Cap Rate 7%

$1,412,043 $1.4M

Cap Rate 9%

$1,098,256 $1.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,000 SF

Gross rent

$153.6K $38.40/SF

− Vacancy

−$12.4K −$3.10/SF

EGI

$141.2K $35.30/SF

− OpEx

−$42.4K −$10.59/SF

NOI

$98.8K $24.71/SF

Area

Queens County, NY

Vacancy

8.07%

Lease Rate

$38.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,976,860

Cap Rate 7%

$1,412,043

Cap Rate 9%

$1,098,256

Alternative Uses

Best Use

Specialty Retail

$2.64M

$2.31M – $3.09M (±1% cap)

NOI $185,130 @ 7.0% cap · market cap 11.57%

Second Best

Multifamily LT 5

$1.41M

$1.24M – $1.65M (±1% cap)

NOI $98,843 @ 7.0% cap · market cap 6.18%

Theoretical Best

Office A

$2.95M

$2.58M – $3.44M (±1% cap)

NOI $206,419 @ 7.0% cap · market cap 12.90%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Drug stores

Suggested Use

Top Pick Law Firm Auto Repair Shop Hair Salon Building Supply Big Box & Wholesale Store Auto Parts Store

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

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

689

Businesses Nearby

Explore this area Business Placement

Demographics for 11363, NY

7,208

Population

3,002

Households

2.4

Avg Household Size

47

Median Age

55%

College-Educated

91%

High-School Grad

0.9 sq mi

ZIP Area

8,009

Density / Sq Mi

$110,833

Median Household Income

$68,985

Median Earnings

$2,235

Median Rent

$1,019,400

Median Home Value

Market

Average Price Trend$/SF for Mixed-use properties in Queens County, NY

$758 Jul

$684 Aug

$604 Sep

$582 Oct

Properties on Market for Mixed-use properties in Queens County

Jul

Aug

Sep

Oct

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Mixed-use property - A ground-floor pharmacy is paired with two three-bedroom residences above.

Where is this mixed-use property located?

The property is located at 42-16 235th Street Douglaston, NY.

What is the asking price?

The asking price for this property is $1,600,000.

What are key features of this property?

This property features: Ground‑floor pharmacy with two upper‑level 3‑bedroom residences; Each residence has 1.5 baths and an updated kitchen with granite counters; Walk‑out basement includes laundry