Mixed-Use Building with
New
For Sale
$1,275,000
61-16 Laurel Hill Blvd, Queens, NY 11377
A second-floor two-bedroom apartment complements the bar and basement space, creating a combined commercial and residential property.
Property Size2,373 SF
Days on Market3
Property Features for 61-16 Laurel Hill Blvd
General Information
Standard status
Active
Size
2,373 SF
Property subtype
Commercial
Units
Unit Mix
1 x 2BR
Multifamily Units
1
Additional Details
Business Included
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$17,367
Building Details
Building Size
2,373 SF
Year Built
1973
Stories
1
Units
2
Listed By:
Cecilia Valentino AHWD GRI CBR CRS
(917) 687-6940
Source:
Elliman
Added: Oct 24
Changed: Oct 25
Last Checked: Oct 24 at 3:06PM
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 Cecilia Valentino AHWD GRI CBR CRS
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Investment Insights
Based on property information with market context.
This mixed-use property combines a ground-floor bar and tavern with basement space and a two-bedroom apartment on the second floor. The building dates to 1973, and the commercial space has been upgraded. The apartment provides a separate residential component within the same property.
Located in Woodside, Queens, the property has a Walk Score of 79, a Transit Score of 100 and a Bike Score of 84. Public transportation, major highways and local amenities are identified in the property information as nearby.
Located in Woodside, Queens, the property has a Walk Score of 79, a Transit Score of 100 and a Bike Score of 84. Public transportation, major highways and local amenities are identified in the property information as nearby.
Key Highlights
- Ground‑floor bar and tavern with basement space
- Upgraded commercial space
- Second‑floor apartment with 2 bedrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$109,828
Cap Rate
8.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,196,560
$2.2M
Cap Rate 7%
$1,568,971
$1.6M
Cap Rate 9%
$1,220,311
$1.2M
Market Conditions
NOI Build-Up for 2,373 SF
Gross rent
$156.6K $66.00/SF
− Vacancy
−$10.2K −$4.29/SF
EGI
$146.4K $61.71/SF
− OpEx
−$36.6K −$15.43/SF
NOI
$109.8K $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%
$2,196,560
Cap Rate 7%
$1,568,971
Cap Rate 9%
$1,220,311
Alternative Uses
Best Use
Specialty Retail
$1.57M
$1.37M – $1.83M
NOI $109,828 @ 7.0% cap · market cap 8.61%
Second Best
Mixed Use
$436.3K
$381.8K – $509.0K
NOI $30,541 @ 7.0% cap · market cap 2.40%
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,458 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,752
Businesses Nearby
145k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 38%
Shops & Services 28%
Groceries 16%
Office Supplies 14%
Jollibee
Dining
22,496 visits/mo
0.3 miles
Staples
Office Supplies
19,965 visits/mo
0.2 miles
Fresh N Save Marketplace
Groceries
18,264 visits/mo
0.3 miles
KFC
Dining
15,404 visits/mo
0.2 miles
BP
Shops & Services
15,385 visits/mo
0.1 miles
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
Frequently Asked Questions
What type of property is this?
Mixed-use property - A second-floor two-bedroom apartment complements the bar and basement space, creating a combined commercial and residential property.
Where is this mixed-use property located?
The property is located at 61-16 Laurel Hill Blvd Queens, NY.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: Ground‑floor bar and tavern with basement space; Upgraded commercial space; Second‑floor apartment with 2 bedrooms
