Mixed-Use
New
For Sale
$2,500,000
69-62 Grand Avenue, Maspeth, NY 11378
The property pairs a ground-floor commercial space with residential units on the upper levels.
Property Size4,329 SF
Days on Market5
Property Features for 69-62 Grand Avenue
General Information
Standard status
Active
Size
4,329 SF
Property subtype
Mixed Use
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$18,024
Building Details
Building Size
4,329 SF
Year Built
1975
Tenancy
Multi
Listing Agency:
Donna Demkowicz R E Corp
Listed By:
Donna M. Demkowicz · License #31DE0993978
(516) 330-9834
Source:
Barbieliteam
Added: Oct 15
Changed: Oct 19
Last Checked: Oct 19 at 2:42PM
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 Donna Demkowicz R E Corp
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Investment Insights
Based on property information with market context.
Built in 1975, this mixed-use property at 69-62 Grand Avenue in Maspeth has a commercial storefront and residential space on the second, third, and fourth floors. The storefront lease runs through August 31, 2033, and assigns the tenant 30% of the property taxes and 25% of the water expense.
Residential spaces occupy the three upper floors. The property brings commercial and residential uses together in one building.
Residential spaces occupy the three upper floors. The property brings commercial and residential uses together in one building.
Key Highlights
- Commercial storefront with lease through August 31, 2033
- Residential spaces on the second, third, and fourth floors
- Storefront tenant pays 30% of property taxes and 25% of water expense
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$105,820
Cap Rate
4.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,116,400
$2.1M
Cap Rate 7%
$1,511,714
$1.5M
Cap Rate 9%
$1,175,778
$1.2M
Market Conditions
NOI Build-Up for 4,329 SF
Gross rent
$200.0K $46.20/SF
− Vacancy
−$7.6K −$1.76/SF
EGI
$192.4K $44.44/SF
− OpEx
−$86.6K −$20.00/SF
NOI
$105.8K $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 Rate 5%
$2,116,400
Cap Rate 7%
$1,511,714
Cap Rate 9%
$1,175,778
Alternative Uses
Best Use
Apartment 5plus
$1.51M
$1.32M – $1.76M
NOI $105,820 @ 7.0% cap · market cap 4.23%
Second Best
Retail
$1.10M
$965.9K – $1.29M
NOI $77,273 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$3.19M
$2.79M – $3.72M
NOI $223,397 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,966
Businesses Nearby
Explore this area
Business Placement
Demographics for 11378, NY
38,288
Population
14,522
Households
2.6
Avg Household Size
40
Median Age
26%
College-Educated
83%
High-School Grad
2.4 sq mi
ZIP Area
15,953
Density / Sq Mi
$84,762
Median Household Income
$52,281
Median Earnings
$1,932
Median Rent
$832,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The property pairs a ground-floor commercial space with residential units on the upper levels.
Where is this mixed-use property located?
The property is located at 69-62 Grand Avenue Maspeth, NY.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Commercial storefront with lease through August 31, 2033; Residential spaces on the second, third, and fourth floors; Storefront tenant pays 30% of property taxes and 25% of water expense
