Building Details

Building Size 3,120 SF

Year Built 1970

Buildings 1

Listing Agency: Prime Realty s***@gmail.com Show Phone

Listed By: Shirley Y. Chen

Source: Cottiemaxwellrealestate

Added: Jul 30 Changed: Aug 12 Last Checked: Aug 12 at 2:32PM

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Investment Insights

Based on property information with market context.

This well-maintained mixed-use property includes 1 commercial storefront and 2 residential apartments. The building sits on a 20' x 258' lot, with a building footprint described as 20' x 215; 52'. Approximately 3,120 SF of space is contained in the structure, and the property was built in 1970.

Conveniently located near the Douglaston LIRR Station, Northern Boulevard, and the Cross Island Parkway, the property is positioned close to shopping and restaurants. It is also within School District 26.

The configuration supports a range of real estate approaches, including investment and owner-user use, with the storefront and residential units providing on-site income opportunities.

Key Highlights

• 1 commercial storefront plus 2 residential apartments
• 20' x 258' lot with 20' x 215; 52' building
• Approximately 3,120 SF mixed‑use building

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

$76,267

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

4.04%

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%

$1,525,340 $1.5M

Cap Rate 7%

$1,089,529 $1.1M

Cap Rate 9%

$847,411 $847.4K

Market Conditions

NOI Build-Up for 3,120 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

$144.1K $46.20/SF

− Vacancy

−$5.5K −$1.76/SF

EGI

$138.7K $44.44/SF

− OpEx

−$62.4K −$20.00/SF

NOI

$76.3K $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%

$1,525,340

Cap Rate 7%

$1,089,529

Cap Rate 9%

$847,411

Alternative Uses

Best Use

Apartment 5plus

$1.09M

$953.3K – $1.27M (±1% cap)

NOI $76,267 @ 7.0% cap · market cap 4.04%

Second Best

Retail

$795.6K

$696.2K – $928.2K (±1% cap)

NOI $55,692 @ 7.0% cap · market cap 2.95%

Theoretical Best

Office A

$2.30M

$2.01M – $2.68M (±1% cap)

NOI $161,007 @ 7.0% cap · market cap 8.53%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Norm Davis Architect Architect

Suggested Use

Top Pick Parking Lot & Garage Grocery & Convenience Store Food Market Barber Shop (Bike/Boat/Book/etc) Store Storage Facility

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

Yes

Highway access

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

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Well-maintained mixed-use building with one storefront and two residential apartments near Douglaston LIRR Station.

Where is this mixed-use property located?

The property is located at 42-18 235 Street Douglaston, NY.

What is the asking price?

The asking price for this property is $1,888,000.

What are key features of this property?

This property features: 1 commercial storefront plus 2 residential apartments; 20' x 258' lot with 20' x 215; 52' building; Approximately 3,120 SF mixed‑use building