Retail Property with High
For Sale
$960,000
Pending
62-98 Woodhaven Blvd #S5, Queens, NY 11374
2,249 SF retail space, delivered vacant, great investment potential.
Property Size2,249 SF
Days on Market265
Property Features for 62-98 Woodhaven Blvd #S5
General Information
Standard status
Pending
Size
2,249 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$24,639
Building Details
Building Size
2,249 SF
Units
1
Listing Agency:
Non Member Office
(111) 111-1111
Listed By:
Siang Liu
(917) 418-8233
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 10
Last Checked: Aug 20 at 10:05AM
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 Non Member Office
Investment Insights
Based on property information with market context.
This 2,249 square feet retail property offers investment potential. The property will be delivered vacant, providing an opportunity for a new business venture. It features high corner visibility. Units S5 and S6 are available together.
Key Highlights
- Delivered vacant, ready for immediate occupancy or business startup.
- High corner visibility, offering excellent exposure.
- Spacious 2,249 square feet, providing ample room for various uses.
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
$40,145
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
4.18%
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%
$802,900
$802.9K
Cap Rate 7%
$573,500
$573.5K
Cap Rate 9%
$446,056
$446.1K
Market Conditions
NOI Build-Up for 2,249 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
$67.5K $30.00/SF
− Vacancy
−$10.1K −$4.50/SF
EGI
$57.3K $25.50/SF
− OpEx
−$17.2K −$7.65/SF
NOI
$40.1K $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%
$802,900
Cap Rate 7%
$573,500
Cap Rate 9%
$446,056
Alternative Uses
Best Use
Retail
$573.5K
$501.8K – $669.1K
NOI $40,145 @ 7.0% cap · market cap 4.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $116,059 @ 7.0% cap · market cap 12.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,009
Businesses Nearby
165k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 45%
Dining 30%
Groceries 25%
7-Eleven
Shops & Services
22,657 visits/mo
0.3 miles
Starbucks
Dining
20,981 visits/mo
0.2 miles
TD Bank
Shops & Services
18,203 visits/mo
0.3 miles
Key Food
Groceries
17,501 visits/mo
0.1 miles
Paris Baguette
Dining
15,443 visits/mo
0.3 miles
Demographics for 11374, NY
47,129
Population
21,197
Households
2.2
Avg Household Size
43
Median Age
51%
College-Educated
90%
High-School Grad
0.9 sq mi
ZIP Area
52,366
Density / Sq Mi
$86,333
Median Household Income
$58,309
Median Earnings
$1,957
Median Rent
$484,500
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 - 2,249 SF retail space, delivered vacant, great investment potential.
Where is this storefront property located?
The property is located at 62-98 Woodhaven Blvd #S5 Queens, NY.
What is the asking price?
The asking price for this property is $960,000.
What are key features of this property?
This property features: Delivered vacant, ready for immediate occupancy or business startup.; High corner visibility, offering excellent exposure.; Spacious 2,249 square feet, providing ample room for various uses.
