Two-Family Mixed-Use
For Sale
$1,850,000
4698 192ND ST, Flushing, NY 11358
Completely remodeled two-family property with a first-floor beauty salon and two residential units above.
Property Size2,704 SF
Lot Size0.09 Acres
Price / SF$684.17
Days on Market219
Property Features for 4698 192ND ST
General Information
Standard status
Active
Size
2,704 SF
Total Parking Spaces
3
Lot size
0.09 Acres
Property subtype
Mixed Use
Zoning
R5B
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,075
Amenities
backyard
Central Air
3
3 Parking Spaces. Driveway.
Building Details
Year Built
1970
Stories
2
Listing Agency:
Jamie Realty Group
(718) 886-0668
Listed By:
Xiao Zheng · License #10491212408
(718) 309-2982
Source:
Xome
Added: Jan 31
Changed: Sep 1
Last Checked: Sep 7 at 5:54AM
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 Jamie Realty Group
Investment Insights
Based on property information with market context.
Completely remodeled detached two-family mixed-use property offering a combination of professional and residential space. The first floor is set up as a spacious beauty salon, while the second floor features two separate 1-bedroom, 1-bath units, each with a living room and functional kitchen. The building was remodeled approximately three years ago and sits on a 40’ x 100’ lot with a building size of 26.5’ x 52’, zoned R5B. Outdoor space includes a private driveway and backyard, plus a 3-car driveway.
The property is located near shops, restaurants, parks, and schools, with convenient transit access to the Q28 and Q76 bus lines and the Auburndale LIRR station.
For income configuration, the provided rent roll lists $5,000 for the first-floor salon and $2,200 for each of the two second-floor residential units.
The property is located near shops, restaurants, parks, and schools, with convenient transit access to the Q28 and Q76 bus lines and the Auburndale LIRR station.
For income configuration, the provided rent roll lists $5,000 for the first-floor salon and $2,200 for each of the two second-floor residential units.
Key Highlights
- Completely remodeled two‑family mixed‑use property with a first‑floor beauty salon and two 1 bed/1 bath residential units above
- 3 years ago complete remodel; central air cooling
- Zoned R5B on a 40' x 100' lot with a 26.5' x 52' building footprint
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
$66,098
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
3.57%
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%
$1,321,960
$1.3M
Cap Rate 7%
$944,257
$944.3K
Cap Rate 9%
$734,422
$734.4K
Market Conditions
NOI Build-Up for 2,704 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
$124.9K $46.20/SF
− Vacancy
−$4.7K −$1.76/SF
EGI
$120.2K $44.44/SF
− OpEx
−$54.1K −$20.00/SF
NOI
$66.1K $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%
$1,321,960
Cap Rate 7%
$944,257
Cap Rate 9%
$734,422
Alternative Uses
Best Use
Apartment 5plus
$944.3K
$826.2K – $1.10M
NOI $66,098 @ 7.0% cap · market cap 3.57%
Second Best
Multifamily LT 5
$639.4K
$559.5K – $745.9K
NOI $44,756 @ 7.0% cap · market cap 2.42%
Theoretical Best
Office A
$1.99M
$1.74M – $2.33M
NOI $139,539 @ 7.0% cap · market cap 7.54%
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
1,252
Businesses Nearby
Explore this area
Business Placement
Demographics for 11358, NY
40,435
Population
13,806
Households
2.9
Avg Household Size
43
Median Age
37%
College-Educated
84%
High-School Grad
2.0 sq mi
ZIP Area
20,218
Density / Sq Mi
$88,729
Median Household Income
$46,875
Median Earnings
$2,086
Median Rent
$967,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Completely remodeled two-family property with a first-floor beauty salon and two residential units above.
Where is this duplex located?
The property is located at 4698 192ND ST Flushing, NY.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Completely remodeled two‑family mixed‑use property with a first‑floor beauty salon and two 1 bed/1 bath residential units above; 3 years ago complete remodel; central air cooling; Zoned R5B on a 40' x 100' lot with a 26.5' x 52' building footprint
