Newly Developed Rego Park
64-16 Wetherole St Queens, NY 11374
64-16 Wetherole St, Queens, NY, 11374
Contact for pricing
For Sale
Contact for pricing
New 421-a building with retail and residential units.
Property Size17,845 SF
Price / SF$672.40
Days on Market119
Property Features for 64-16 Wetherole St
General Information
- Standard status
- Active
- Size
- 17,845 SF
- Property subtype
- Multifamily, Mixed Use
Listing agency
KSR Kassin Sabbagh Realty
(917) 523-1274
Listed by
Samia Farah · License #NY 4OM01167813
Source
Crexi
Added: Mar 26 Updated: Jul 6 at 7:47AM Checked: Jul 21 at 6:44AM
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 KSR Kassin Sabbagh Realty
Investment Insights
Based on property information with market context.
A newly developed building located in Rego Park, Queens, is available for sale. The property is a 421-a building comprising a mix of 30% affordable housing units and 70% market-rate units. The building includes one retail space currently rented to a Daycare Center which includes the basement. Located in Rego Park, the property offers access to public transportation, shopping, dining, and parks. The property size is 17,845 square feet.
Key Highlights
- Newly developed 421‑a building in Rego Park, Queens.
- Includes a retail space rented to a Daycare Center with basement.
- Offers a mix of 70% market‑rate and 30% affordable housing units.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $824.4k | $46.20 |
| − Vacancy | −$31.3k | −$1.76 |
| EGI | $793.1k | $44.44 |
| − OpEx | −$356.9k | −$20.00 |
| NOI | $436.2k | $24.44 |
17,845 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$6.23M
$5.45M – $7.27M
NOI $436,211 @ 7.0% cap · market cap 3.64%
Second Best
Mixed Use
$3.28M
$2.87M – $3.83M
NOI $229,665 @ 7.0% cap · market cap 1.91%
Theoretical Best
Office A
$13.16M
$11.51M – $15.35M
NOI $920,888 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Isalis
(Bike/Boat/Book/etc) Store
Party City
Party Supply Store
Skunk Funk
Big Box & Wholesale Store
Carl's Trading Co
Hat Shop
Bushka's Kitchen LLC
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - New 421-a building with retail and residential units.
Where is this mixed-use property located?
The property is located at 64-16 Wetherole St Queens, NY.
What is the asking price?
The asking price for this property is $11,999,000.
What are key features of this property?
This property features: Newly developed 421‑a building in Rego Park, Queens.; Includes a retail space rented to a Daycare Center with basement.; Offers a mix of 70% market‑rate and 30% affordable housing units.
