Triplex With Commercial
New
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 Market5
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: Sep 15
Last Checked: Sep 16 at 11:09PM
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
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 = 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
$122,833
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
4.91%
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%
$2,456,660
$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
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
$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 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%
$2,456,660
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.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,719
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
