Mixed-Use Building with
New
For Sale
$4,600,000
60-11 39th Ave, Queens, NY 11377
The second and third floors each contain a three-bedroom residence with a balcony.
Property Size6,900 SF
Days on Market2
Property Features for 60-11 39th Ave
General Information
Standard status
Active
Size
6,900 SF
Property subtype
Commercial
Units
Unit Mix
1 x 1BR, 2 x 3BR/2BA
Multifamily Units
3
Additional Details
Mixed-Use Components
retail, residential
Taxes and HOA fees
Annual Taxes
$86,968
Building Details
Building Size
6,900 SF
Year Built
1963
Buildings
1
Stories
3
Listed By:
Jin Sook Sah
(718) 899-7000
Source:
Elliman
Added: Oct 23
Last Checked: Oct 23 at 5:01PM
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 Jin Sook Sah
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Investment Insights
Based on property information with market context.
Built in 1963, this mixed-use property has a finished basement and a ground floor configured with a laundromat, cafe, and one-bedroom apartment. The second and third floors each contain a three-bedroom, two-bathroom residence with a living room, kitchen, and balcony.
At 60-11 39th Ave in Queens, the property has a Walk Score of 79, a Bike Score of 84, and a Transit Score of 100.
At 60-11 39th Ave in Queens, the property has a Walk Score of 79, a Bike Score of 84, and a Transit Score of 100.
Key Highlights
- Finished basement
- Ground floor includes a laundromat, cafe, and one‑bedroom apartment
- Second and third floors each have 3 bedrooms, 2 full baths, a living room, kitchen, and balcony
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$319,349
Cap Rate
6.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,386,980
$6.4M
Cap Rate 7%
$4,562,129
$4.6M
Cap Rate 9%
$3,548,322
$3.5M
Market Conditions
NOI Build-Up for 6,900 SF
Gross rent
$455.4K $66.00/SF
− Vacancy
−$29.6K −$4.29/SF
EGI
$425.8K $61.71/SF
− OpEx
−$106.4K −$15.43/SF
NOI
$319.3K $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 Rate 5%
$6,386,980
Cap Rate 7%
$4,562,129
Cap Rate 9%
$3,548,322
Alternative Uses
Best Use
Specialty Retail
$4.56M
$3.99M – $5.32M
NOI $319,349 @ 7.0% cap · market cap 6.94%
Second Best
Apartment 5plus
$2.41M
$2.11M – $2.81M
NOI $168,666 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$5.09M
$4.45M – $5.93M
NOI $356,073 @ 7.0% cap · market cap 7.74%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
5,878
Businesses Nearby
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The second and third floors each contain a three-bedroom residence with a balcony.
Where is this mixed-use property located?
The property is located at 60-11 39th Ave Queens, NY.
What is the asking price?
The asking price for this property is $4,600,000.
What are key features of this property?
This property features: Finished basement; Ground floor includes a laundromat, cafe, and one‑bedroom apartment; Second and third floors each have 3 bedrooms, 2 full baths, a living room, kitchen, and balcony
