Mixed-Use Property with
For Sale
$1,995,000
4507 Ditmars Blvd, Queens, NY 11105
Mixed-use building with an established ground-floor restaurant and two updated apartments upstairs.
Property Size2,500 SF
Days on Market95
Property Features for 4507 Ditmars Blvd
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Commercial
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,111
Building Details
Building Size
2,500 SF
Year Built
1920
Units
3
Listing Agency:
Daniel Gale Sothebys Intl Rlty
(718) 762-2268
Listed By:
George Spyridakis · License #10301217813
(718) 762-2268
Source:
Elliman
Added: May 27
Changed: Aug 26
Last Checked: Aug 26 at 8:24AM
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 Daniel Gale Sothebys Intl Rlty
Investment Insights
Based on property information with market context.
This mixed-use property features a well-known, established restaurant on the ground floor and two updated apartments on the second floor.
Located on Ditmars Boulevard in Astoria, the building sits directly across from the LaGuardia Shopping Center and is just minutes from LaGuardia Airport. Some photos may be virtually staged for illustrative purposes.
The existing layout supports a combined retail and residential configuration, with income potential from both the restaurant level and the two upstairs apartments.
Located on Ditmars Boulevard in Astoria, the building sits directly across from the LaGuardia Shopping Center and is just minutes from LaGuardia Airport. Some photos may be virtually staged for illustrative purposes.
The existing layout supports a combined retail and residential configuration, with income potential from both the restaurant level and the two upstairs apartments.
Key Highlights
- Mixed‑use building built in 1920 with a ground‑floor restaurant and two apartments on the second floor
- Established restaurant on the ground floor
- Two updated apartments on the second floor
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
$115,706
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
5.80%
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%
$2,314,120
$2.3M
Cap Rate 7%
$1,652,943
$1.7M
Cap Rate 9%
$1,285,622
$1.3M
Market Conditions
NOI Build-Up for 2,500 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
$165.0K $66.00/SF
− Vacancy
−$10.7K −$4.29/SF
EGI
$154.3K $61.71/SF
− OpEx
−$38.6K −$15.43/SF
NOI
$115.7K $46.28/SF
Area
Queens County, NY
Vacancy
6.50%
Lease Rate
$66.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,314,120
Cap Rate 7%
$1,652,943
Cap Rate 9%
$1,285,622
Alternative Uses
Best Use
Specialty Retail
$1.65M
$1.45M – $1.93M
NOI $115,706 @ 7.0% cap · market cap 5.80%
Second Best
Apartment 5plus
$873.0K
$763.9K – $1.02M
NOI $61,111 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$1.84M
$1.61M – $2.15M
NOI $129,012 @ 7.0% cap · market cap 6.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,561
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11105, NY
38,001
Population
17,518
Households
2.2
Avg Household Size
37
Median Age
55%
College-Educated
91%
High-School Grad
1.6 sq mi
ZIP Area
23,751
Density / Sq Mi
$100,306
Median Household Income
$62,464
Median Earnings
$2,211
Median Rent
$1,089,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Mixed-use building with an established ground-floor restaurant and two updated apartments upstairs.
Where is this conventional restaurant located?
The property is located at 4507 Ditmars Blvd Queens, NY.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Mixed‑use building built in 1920 with a ground‑floor restaurant and two apartments on the second floor; Established restaurant on the ground floor; Two updated apartments on the second floor
