Established Bakery Business For
For Sale
$285,000
61-22 Springfield Blvd, Queens, NY 11364
Turnkey bakery with 20 years of proven success.
Property Size1,091 SF
Days on Market272
Property Features for 61-22 Springfield Blvd
General Information
Standard status
Active
Size
1,091 SF
Property subtype
Other
Building Details
Building Size
1,091 SF
Year Built
1952
Units
2
Listing Agency:
(718) 429-4400
Listed By:
Anna Diaz · License #30DI0956683
(718) 429-4400
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 24
Last Checked: Aug 25 at 10:38AM
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 Anna Diaz
Investment Insights
Based on property information with market context.
This established local bakery, which has been in business for over 20 years, is available for sale. The bakery is located in a busy strip mall with high foot traffic. Known for its cookies and cakes made fresh on-site, the business has built a loyal customer base. The sale includes all inventory, ingredients, and the full suite of proprietary recipes and intellectual property. Favorable lease terms are fully transferrable, with five years remaining. This is a turnkey operation with a strong local presence and proven success, presenting an opportunity for an experienced baker or entrepreneur.
Key Highlights
- Established bakery with 20 years of successful operation and a loyal customer base.
- Prime location in a high‑traffic strip mall.
- Turnkey operation including all inventory, ingredients, and proprietary recipes.
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
$19,474
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
6.83%
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%
$389,480
$389.5K
Cap Rate 7%
$278,200
$278.2K
Cap Rate 9%
$216,378
$216.4K
Market Conditions
NOI Build-Up for 1,091 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
$32.7K $30.00/SF
− Vacancy
−$4.9K −$4.50/SF
EGI
$27.8K $25.50/SF
− OpEx
−$8.3K −$7.65/SF
NOI
$19.5K $17.85/SF
Area
Queens County, NY
Vacancy
15.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
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%
$389,480
Cap Rate 7%
$278,200
Cap Rate 9%
$216,378
Alternative Uses
Best Use
Specialty Retail
$721.3K
$631.2K – $841.6K
NOI $50,494 @ 7.0% cap · market cap 17.72%
Second Best
Retail
$278.2K
$243.4K – $324.6K
NOI $19,474 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$804.3K
$703.8K – $938.4K
NOI $56,301 @ 7.0% cap · market cap 19.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
740
Businesses Nearby
83k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 43%
Shops & Services 35%
Groceries 18%
Apparel 2%
BP
Shops & Services
22,083 visits/mo
0.2 miles
Starbucks
Dining
21,570 visits/mo
0.3 miles
Key Food Supermarkets
Groceries
15,034 visits/mo
0.4 miles
Dunkin' Donuts
Dining
8,993 visits/mo
0.4 miles
Dunkin' Donuts
Dining
5,251 visits/mo
0.2 miles
Demographics for 11364, NY
37,032
Population
14,527
Households
2.5
Avg Household Size
45
Median Age
49%
College-Educated
86%
High-School Grad
2.5 sq mi
ZIP Area
14,813
Density / Sq Mi
$101,222
Median Household Income
$55,295
Median Earnings
$2,330
Median Rent
$770,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Turnkey bakery with 20 years of proven success.
Where is this storefront property located?
The property is located at 61-22 Springfield Blvd Queens, NY.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Established bakery with 20 years of successful operation and a loyal customer base.; Prime location in a high‑traffic strip mall.; Turnkey operation including all inventory, ingredients, and proprietary recipes.
