Mixed-Use Building with
For Sale
$950,000
4553 47th St, Queens, NY 11377
Street-level commercial space with a residential apartment above on a busy thoroughfare with strong foot and vehicle traffic.
Property Size1,482 SF
Days on Market51
Property Features for 4553 47th St
General Information
Standard status
Active
Size
1,482 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$7,192
Building Details
Building Size
1,482 SF
Year Built
1930
Units
2
Listing Agency:
Crifasi Real Estate Inc
(718) 894-8700
Listed By:
Salvatore Crifasi · License #31CR0315651
Source:
Elliman
Added: Jun 24
Changed: Aug 10
Last Checked: Aug 12 at 8:42AM
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 Crifasi Real Estate Inc
Investment Insights
Based on property information with market context.
This mixed-use property includes a street-level commercial space with a residential apartment positioned above. The building is configured for a combined live-and-lease or separate tenancy setup, with the commercial portion offering street presence and the apartment providing separate residential use. The property is being sold as-is.
The location is described as being on a busy commercial thoroughfare, with strong foot and vehicle traffic. The property is also noted to be close to transportation and everyday neighborhood conveniences, along with shopping and dining nearby. Walkability and transit proximity are indicated by high WalkScore and TransitScore ratings, and the bikeability rating is also provided.
For investors or owner-operators, this configuration can support a mixed-income strategy by pairing a retail-facing storefront with residential rental space in the same asset. Interested buyers should plan for the property to be delivered as stated in the remarks and review condition and operating details during due diligence, given the as-is sale. Because the offering includes both commercial and residential components, it may appeal to tenants and buyers looking for straightforward mixed-use occupancy within a Queens market setting.
The location is described as being on a busy commercial thoroughfare, with strong foot and vehicle traffic. The property is also noted to be close to transportation and everyday neighborhood conveniences, along with shopping and dining nearby. Walkability and transit proximity are indicated by high WalkScore and TransitScore ratings, and the bikeability rating is also provided.
For investors or owner-operators, this configuration can support a mixed-income strategy by pairing a retail-facing storefront with residential rental space in the same asset. Interested buyers should plan for the property to be delivered as stated in the remarks and review condition and operating details during due diligence, given the as-is sale. Because the offering includes both commercial and residential components, it may appeal to tenants and buyers looking for straightforward mixed-use occupancy within a Queens market setting.
Key Highlights
- Year built: 1930
- Mixed‑use building with street‑level commercial space and a residential apartment above
- On a busy commercial thoroughfare with strong foot and vehicle traffic
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
$36,227
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
3.81%
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%
$724,540
$724.5K
Cap Rate 7%
$517,529
$517.5K
Cap Rate 9%
$402,522
$402.5K
Market Conditions
NOI Build-Up for 1,482 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
$68.5K $46.20/SF
− Vacancy
−$2.6K −$1.76/SF
EGI
$65.9K $44.44/SF
− OpEx
−$29.6K −$20.00/SF
NOI
$36.2K $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%
$724,540
Cap Rate 7%
$517,529
Cap Rate 9%
$402,522
Alternative Uses
Best Use
Apartment 5plus
$517.5K
$452.8K – $603.8K
NOI $36,227 @ 7.0% cap · market cap 3.81%
Second Best
Retail
$377.9K
$330.7K – $440.9K
NOI $26,454 @ 7.0% cap · market cap 2.78%
Theoretical Best
Office A
$1.09M
$956.0K – $1.27M
NOI $76,478 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,550
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11377, NY
91,512
Population
34,928
Households
2.6
Avg Household Size
39
Median Age
33%
College-Educated
82%
High-School Grad
2.5 sq mi
ZIP Area
36,605
Density / Sq Mi
$73,292
Median Household Income
$45,978
Median Earnings
$1,802
Median Rent
$670,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Street-level commercial space with a residential apartment above on a busy thoroughfare with strong foot and vehicle traffic.
Where is this storefront property located?
The property is located at 4553 47th St Queens, NY.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Year built: 1930; Mixed‑use building with street‑level commercial space and a residential apartment above; On a busy commercial thoroughfare with strong foot and vehicle traffic
