Mixed-Use Building with Electrical
New
For Sale
$2,288,000
42-36 235 Street, Douglaston, NY 11363
MULTI_FAMILY - Douglaston, NY
Property Size8,167 SF
Price / SF$280.15
Days on Market2
Property Features for 42-36 235 Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
On Street
Basement
Finished, Full
Elementary school
Ps 98 Douglaston School
Middle school
Jhs 67 Louis Pasteur
High school
Benjamin N Cardozo High School
Elementary school district
Queens 26
Middle school district
Queens 26
High school district
Queens 26
Standard status
Active
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
15558
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard
Cooling system
Multi Units
Water source
Public
Building Details
Year built
1968
Number of units
2
Building materials
Brick
Listing Agency:
Toula Polios Realty Group LLC
(718) 683-3700
Listed By:
Toula Polios CBR
(718) 683-3700
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 16 at 6:06AM
MLS# 1039249
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This brick mixed-use property contains 8,167 square feet and was built in 1968. The ground floor is fully leased through October 2027, while the lower level is vacant and available for occupancy. The building includes a basement, baseboard heating powered by natural gas, and cooling provided by multiple units.
Electrical capacity includes a newly completed 400-amp, 3-phase service for the commercial space and a 100-amp, single-phase service serving the lower level; both installations were completed in 2025. The property is located at 42-36 235 Street in Douglaston, Queens, with on-street parking. Public water and public sewer serve the building, and water is available through the municipal utility system.
Electrical capacity includes a newly completed 400-amp, 3-phase service for the commercial space and a 100-amp, single-phase service serving the lower level; both installations were completed in 2025. The property is located at 42-36 235 Street in Douglaston, Queens, with on-street parking. Public water and public sewer serve the building, and water is available through the municipal utility system.
Key Highlights
- 8,167 SF mixed‑use property on 42‑36 235 Street, Douglaston, NY 11363
- Ground floor fully leased through October 2027
- Vacant lower level available for occupancy
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
$105,109
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
4.59%
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%
$2,102,180
$2.1M
Cap Rate 7%
$1,501,557
$1.5M
Cap Rate 9%
$1,167,878
$1.2M
Market Conditions
NOI Build-Up for 8,167 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
$196.0K $24.00/SF
− Vacancy
−$27.8K −$3.41/SF
EGI
$168.2K $20.59/SF
− OpEx
−$63.1K −$7.72/SF
NOI
$105.1K $12.87/SF
Area
Queens County, NY
Vacancy
14.20%
Lease Rate
$24.00 /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%
$2,102,180
Cap Rate 7%
$1,501,557
Cap Rate 9%
$1,167,878
Alternative Uses
Best Use
Mixed Use
$1.50M
$1.31M – $1.75M
NOI $105,109 @ 7.0% cap · market cap 4.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.02M
$5.27M – $7.02M
NOI $421,456 @ 7.0% cap · market cap 18.42%
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
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial property with an occupied ground floor, vacant lower level, and recently upgraded electrical service.
Where is this mixed-use property located?
The property is located at 42-36 235 Street Douglaston, NY.
What is the asking price?
The asking price for this property is $2,288,000.
What are key features of this property?
This property features: 8,167 SF mixed‑use property on 42‑36 235 Street, Douglaston, NY 11363; Ground floor fully leased through October 2027; Vacant lower level available for occupancy
