Mixed-Use Corner
For Sale
$2,488,000
6769 78th Street, Middle Village, NY 11379
Corner property combining commercial storefronts with residential units in Middle Village.
Property Size5,500 SF
Price / SF$452.36
Days on Market157
Property Features for 6769 78th Street
General Information
Standard status
Active
Size
5,500 SF
Property subtype
Commercial
Zoning
R4
Additional Details
Gross Income
$215,000
Corner Location
Yes
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$26,492
Building Details
Building Size
5,500 SF
Year Built
1930
Buildings
1
Stories
3
Units
7
Construction
brick
Tenancy
Multi
Listing Agency:
Exit All Seasons Realty
(718) 345-4545
Listed By:
Jaroslaw Kaszuba
(718) 345-4545
Source:
Cohenandcohenrealty
Added: Mar 17
Changed: Aug 20
Last Checked: Aug 20 at 5:53AM
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 Exit All Seasons Realty
Investment Insights
Based on property information with market context.
Built in 1930, this brick mixed-use building occupies a corner position at 6769 78th Street in Middle Village. The property contains more than 5,500 square feet, with two commercial spaces at the street level and five residential units above or within the building. Its R4 zoning designation supports the property’s mixed-use configuration as documented in the listing information.
The existing layout combines storefront activity with residential occupancy in a single multifamily-oriented asset. The separate commercial and residential components provide a clearly defined building program for an owner or investor evaluating a mixed-use property in New York City.
The existing layout combines storefront activity with residential occupancy in a single multifamily-oriented asset. The separate commercial and residential components provide a clearly defined building program for an owner or investor evaluating a mixed-use property in New York City.
Key Highlights
- More than 5,500 square feet in a brick mixed‑use building
- Two commercial spaces or stores
- Five residential units
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
$134,444
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
5.40%
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%
$2,688,880
$2.7M
Cap Rate 7%
$1,920,629
$1.9M
Cap Rate 9%
$1,493,822
$1.5M
Market Conditions
NOI Build-Up for 5,500 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
$254.1K $46.20/SF
− Vacancy
−$9.7K −$1.76/SF
EGI
$244.4K $44.44/SF
− OpEx
−$110.0K −$20.00/SF
NOI
$134.4K $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%
$2,688,880
Cap Rate 7%
$1,920,629
Cap Rate 9%
$1,493,822
Alternative Uses
Best Use
Apartment 5plus
$1.92M
$1.68M – $2.24M
NOI $134,444 @ 7.0% cap · market cap 5.40%
Second Best
Retail
$1.40M
$1.23M – $1.64M
NOI $98,175 @ 7.0% cap · market cap 3.95%
Theoretical Best
Office A
$4.05M
$3.55M – $4.73M
NOI $283,826 @ 7.0% cap · market cap 11.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,512
Businesses Nearby
Explore this area
Business Placement
Demographics for 11379, NY
37,906
Population
15,237
Households
2.5
Avg Household Size
44
Median Age
35%
College-Educated
84%
High-School Grad
2.2 sq mi
ZIP Area
17,230
Density / Sq Mi
$92,509
Median Household Income
$54,109
Median Earnings
$1,989
Median Rent
$886,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner property combining commercial storefronts with residential units in Middle Village.
Where is this mixed-use property located?
The property is located at 6769 78th Street Middle Village, NY.
What is the asking price?
The asking price for this property is $2,488,000.
What are key features of this property?
This property features: More than 5,500 square feet in a brick mixed‑use building; Two commercial spaces or stores; Five residential units
