Triplex With Commercial
For Sale
$2,500,000
6962 Grand Avenue, Maspeth, NY 11378
Mixed-use building with separate utility metering and individual boilers serving each occupancy.
Property Size5,025 SF
Days on Market50
Property Features for 6962 Grand Avenue
General Information
Standard status
Active
Size
5,025 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$18,023
Building Details
Building Size
5,025 SF
Year Built
1975
Listing Agency:
Donna Demkowicz R E Corp
Listed By:
Donna M. Demkowicz · License #31DE0993978
(516) 330-9834
Source:
Barbieliteam
Added: Sep 13
Changed: Oct 31
Last Checked: Oct 30 at 8:26PM
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.
This 1975 mixed-use property combines three 2-bedroom apartments with a commercial storefront. Hardwood flooring extends throughout the residential units and store, while separate meters and individual boilers serve each occupancy. Tenants are responsible for their own utilities, supporting distinct operating arrangements across the building.
Located at 6962 Grand Avenue in Maspeth, NY 11378, the property offers a combination of residential and commercial space within a single three-family building. The storefront adds a business component alongside the apartment units.
Located at 6962 Grand Avenue in Maspeth, NY 11378, the property offers a combination of residential and commercial space within a single three-family building. The storefront adds a business component alongside the apartment units.
Key Highlights
- Three 2‑bedroom apartments plus one commercial storefront
- 1975 construction
- Hardwood floors throughout the apartments and storefront
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$122,833
Cap Rate
4.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,456,660
$2.5M
Cap Rate 7%
$1,754,757
$1.8M
Cap Rate 9%
$1,364,811
$1.4M
Market Conditions
NOI Build-Up for 5,025 SF
Gross rent
$232.2K $46.20/SF
− Vacancy
−$8.8K −$1.76/SF
EGI
$223.3K $44.44/SF
− OpEx
−$100.5K −$20.00/SF
NOI
$122.8K $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%
$2,456,660
Cap Rate 7%
$1,754,757
Cap Rate 9%
$1,364,811
Alternative Uses
Best Use
Apartment 5plus
$1.75M
$1.54M – $2.05M
NOI $122,833 @ 7.0% cap · market cap 4.91%
Second Best
Retail
$1.28M
$1.12M – $1.49M
NOI $89,696 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$3.70M
$3.24M – $4.32M
NOI $259,314 @ 7.0% cap · market cap 10.37%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,719
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Mixed-use building with separate utility metering and individual boilers serving each occupancy.
Where is this triplex located?
The property is located at 6962 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: Three 2‑bedroom apartments plus one commercial storefront; 1975 construction; Hardwood floors throughout the apartments and storefront
