Mixed-Use Property with New Electrical
For Sale
$2,288,000
Pending
42-36 235 Street, Douglaston, NY 11363
Commercial Sale, Douglaston, NY
Property Size8,167 SF
Days on Market47
Property Features for 42-36 235 Street
General Information
Property type
Commercial Sale
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
Pending
APN
08099-0131
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
Listed By:
Toula Polios CBR
(718) 683-3700
Added: Aug 15
Changed: Sep 24
Last Checked: Sep 30 at 2:06PM
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 8,167-square-foot mixed-use property at 42-36 235 Street includes a fully leased ground floor with tenancy extending through October 2027. The lower level is vacant, providing additional commercial space within the building. Construction is brick, and the property was built in 1968.
Building improvements include a new roof and a 400-amp, 3-phase electrical service for the commercial space, along with a separate 100-amp, single-phase service serving the lower level. Both electrical systems were installed in 2025. Preliminary plans for future construction are included with the property.
The building has natural gas baseboard heat, multi-unit cooling, public water, public sewer, and on-street parking. It is located in Douglaston, Queens, New York.
Building improvements include a new roof and a 400-amp, 3-phase electrical service for the commercial space, along with a separate 100-amp, single-phase service serving the lower level. Both electrical systems were installed in 2025. Preliminary plans for future construction are included with the property.
The building has natural gas baseboard heat, multi-unit cooling, public water, public sewer, and on-street parking. It is located in Douglaston, Queens, New York.
Key Highlights
- 8,167 SF mixed‑use property at 42‑36 235 Street, Douglaston, NY 11363
- Fully leased ground floor with lease expiration in October 2027
- Vacant lower level available for additional commercial use
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
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Current Use
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully leased ground-floor space is paired with a vacant lower level and recently upgraded electrical infrastructure.
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 at 42‑36 235 Street, Douglaston, NY 11363; Fully leased ground floor with lease expiration in October 2027; Vacant lower level available for additional commercial use
