Mixed-Use Elevator
For Sale
$6,595,000
65-27 Roosevelt Ave, Woodside, NY 11377
Elevator building with 9 apartments and 3 retail spaces leased to medical tenants under a remaining tax abatement.
Property Size13,216 SF
Days on Market182
Property Features for 65-27 Roosevelt Ave
General Information
Standard status
Active
Size
13,216 SF
Property subtype
Commercial
Additional Details
Multifamily Units
9
Taxes and HOA fees
Annual Taxes
$18,000
Amenities
elevator
Building Details
Building Size
13,216 SF
Year Built
2023
Units
12
Tenancy
Multi
Listing Agency:
Amorelli Realty LLC
(718) 662-2222
Listed By:
John P. Bachas
(516) 404-7056
Source:
Maurafinnegan
Added: Mar 12
Changed: Sep 8
Last Checked: Sep 4 at 5:06AM
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 Amorelli Realty LLC
Investment Insights
Based on property information with market context.
This new development mixed-use elevator building features 12 total units: 9 apartments and 3 retail spaces. The building is structured to support medical retail tenancy, with the retail component built to suit medical tenants. Tenant utilities are managed separately, as tenants pay their own heat, and maintenance closets include hot water heaters on each floor.
The property is for sale at 65-27 Roosevelt Ave in Woodside, NY. The offering includes a tax abatement with 32 years remaining.
Reported income for the asset is $440,000 net income and $510,000 gross income. Please reach out to request the Offering Memorandum for additional details.
The property is for sale at 65-27 Roosevelt Ave in Woodside, NY. The offering includes a tax abatement with 32 years remaining.
Reported income for the asset is $440,000 net income and $510,000 gross income. Please reach out to request the Offering Memorandum for additional details.
Key Highlights
- 2023‑built elevator building with 9 apartments and 3 retail spaces
- All units leased to medical tenants, with retail built to suite for medical use
- 32 years remaining on the tax abatement
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
$323,057
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
4.90%
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%
$6,461,140
$6.5M
Cap Rate 7%
$4,615,100
$4.6M
Cap Rate 9%
$3,589,522
$3.6M
Market Conditions
NOI Build-Up for 13,216 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
$610.6K $46.20/SF
− Vacancy
−$23.2K −$1.76/SF
EGI
$587.4K $44.44/SF
− OpEx
−$264.3K −$20.00/SF
NOI
$323.1K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
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%
$6,461,140
Cap Rate 7%
$4,615,100
Cap Rate 9%
$3,589,522
Alternative Uses
Best Use
Apartment 5plus
$4.62M
$4.04M – $5.38M
NOI $323,057 @ 7.0% cap · market cap 4.90%
Second Best
Retail
$3.37M
$2.95M – $3.93M
NOI $235,906 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$9.74M
$8.53M – $11.37M
NOI $682,009 @ 7.0% cap · market cap 10.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
9
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,847
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Elevator building with 9 apartments and 3 retail spaces leased to medical tenants under a remaining tax abatement.
Where is this apartment building located?
The property is located at 65-27 Roosevelt Ave Woodside, NY.
What is the asking price?
The asking price for this property is $6,595,000.
What are key features of this property?
This property features: 2023‑built elevator building with 9 apartments and 3 retail spaces; All units leased to medical tenants, with retail built to suite for medical use; 32 years remaining on the tax abatement
