Auto Repair Shop with Large
For Sale
Contact for pricing
441 BEACH 129TH ST, Belle Harbor, NY 11694
Auto repair shop on a commercial block with 130 feet of frontage and development potential for additional space.
Property Size14,200 SF
Price / SF$225.35
Days on Market65
Property Features for 441 BEACH 129TH ST
General Information
Standard status
Active
Size
14,200 SF
Class
B
Property subtype
Retail, Hospitality, Land
Investment Type
Redevelopment
Building Details
Year Built
930
Buildings
1
Stories
1
Units
1
Listing Agency:
Corbett & Dullea Real Estate
Listed By:
Nick Dullea · License #49DU1074980
Source:
Crexi
Added: Jul 3
Changed: Aug 16
Last Checked: Aug 31 at 6:02AM
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 Corbett & Dullea Real Estate
Investment Insights
Based on property information with market context.
Located at 441 BEACH 129TH ST, BELLE HARBOR, NY 11694, this 14,200-square-foot property currently houses an auto repair shop. The site may be used as-is, or it can be redeveloped for other commercial uses as contemplated by the seller, including a grocery/market, medical building, or food and beverage operation.
The property offers 130 feet of frontage on a busy commercial block. The seller also notes available FAR to build an additional 4,970 square feet, along with the ability to further develop the overall site.
The property is positioned on what the seller describes as the main commercial block servicing a residential community, supporting continued commercial utility and expansion possibilities for an end user or developer.
The property offers 130 feet of frontage on a busy commercial block. The seller also notes available FAR to build an additional 4,970 square feet, along with the ability to further develop the overall site.
The property is positioned on what the seller describes as the main commercial block servicing a residential community, supporting continued commercial utility and expansion possibilities for an end user or developer.
Key Highlights
- 14,200 SF property currently operating as an auto repair shop
- 130 ft of frontage on a busy commercial block
- Development potential includes building an additional 4,970 SF based on available FAR
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
$253,470
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
7.92%
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%
$5,069,400
$5.1M
Cap Rate 7%
$3,621,000
$3.6M
Cap Rate 9%
$2,816,333
$2.8M
Market Conditions
NOI Build-Up for 14,200 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
$426.0K $30.00/SF
− Vacancy
−$63.9K −$4.50/SF
EGI
$362.1K $25.50/SF
− OpEx
−$108.6K −$7.65/SF
NOI
$253.5K $17.85/SF
Area
Queens County, NY
Vacancy
15.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
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%
$5,069,400
Cap Rate 7%
$3,621,000
Cap Rate 9%
$2,816,333
Alternative Uses
Best Use
Specialty Retail
$9.39M
$8.22M – $10.95M
NOI $657,212 @ 7.0% cap · market cap 20.54%
Second Best
Retail
$3.62M
$3.17M – $4.22M
NOI $253,470 @ 7.0% cap · market cap 7.92%
Theoretical Best
Office A
$10.47M
$9.16M – $12.21M
NOI $732,788 @ 7.0% cap · market cap 22.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
390
Businesses Nearby
2k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Electronics 100%
Verizon
Electronics
2,333 visits/mo
0.1 miles
Demographics for 11694, NY
19,780
Population
9,103
Households
2.2
Avg Household Size
46
Median Age
43%
College-Educated
90%
High-School Grad
1.7 sq mi
ZIP Area
11,635
Density / Sq Mi
$103,792
Median Household Income
$65,602
Median Earnings
$1,787
Median Rent
$839,000
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Jim Bulloch's Services — 445 Beach 129th St, Far Rockaway, NY 11694
- Carmes Car Towings — 239 Beach 116th St, Queens, NY 11694
- Drive Safe Auto Center — 11505 Beach Channel Dr, Rockaway Park, NY 11694
- Rockaway Auto Repair And Quick Lube Inc — 11520 Beach Channel Dr, Far Rockaway, NY 11694
- C & L Tire — 112-16 Beach Channel Dr, Rockaway Park, NY 11694
Frequently Asked Questions
What type of property is this?
Auto shop - Auto repair shop on a commercial block with 130 feet of frontage and development potential for additional space.
Where is this auto shop located?
The property is located at 441 BEACH 129TH ST Belle Harbor, NY.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: 14,200 SF property currently operating as an auto repair shop; 130 ft of frontage on a busy commercial block; Development potential includes building an additional 4,970 SF based on available FAR
