Mixed-Use Building with Grocery Ground
For Sale
$1,498,000
70-07 Grand Avenue, Maspeth, NY 11378
Ground-floor grocery lease with two upstairs two-bedroom, one-bath apartments in a high-traffic building built in 1901.
Property Size2,340 SF
Days on Market126
Property Features for 70-07 Grand Avenue
General Information
Standard status
Active
Size
2,340 SF
Property subtype
Duplex
Additional Details
Gross Income
$90,000
Taxes and HOA fees
Annual Taxes
$9,437
Building Details
Building Size
2,340 SF
Year Built
1901
Tenancy
Multi
Listing Agency:
Winzone Realty Inc
Listed By:
Vera Y. Wu
(646) 633-2828
Source:
Barbieliteam
Added: May 12
Changed: Sep 8
Last Checked: Sep 14 at 9:44AM
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 Winzone Realty Inc
Investment Insights
Based on property information with market context.
70-07 Grand Avenue is a high-traffic mixed-use building with retail and residential income in one structure. The ground floor is leased to a grocery store. Upstairs, the building includes two apartments, each with two bedrooms and one bathroom.
The property is located at 70-07 Grand Avenue in Maspeth, NY 11378. Built in 1901, the building totals 2,340 SF, combining street-level retail with second-floor living space.
This configuration can appeal to buyers looking for a mixed-use setup that pairs an operating neighborhood retail component with two residential units above.
The property is located at 70-07 Grand Avenue in Maspeth, NY 11378. Built in 1901, the building totals 2,340 SF, combining street-level retail with second-floor living space.
This configuration can appeal to buyers looking for a mixed-use setup that pairs an operating neighborhood retail component with two residential units above.
Key Highlights
- Ground floor leased to a grocery store
- Two upstairs apartments, each two bedrooms and one bathroom
- High‑traffic mixed‑use building
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
$108,301
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
7.23%
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%
$2,166,020
$2.2M
Cap Rate 7%
$1,547,157
$1.5M
Cap Rate 9%
$1,203,344
$1.2M
Market Conditions
NOI Build-Up for 2,340 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
$154.4K $66.00/SF
− Vacancy
−$10.0K −$4.29/SF
EGI
$144.4K $61.71/SF
− OpEx
−$36.1K −$15.43/SF
NOI
$108.3K $46.28/SF
Area
Queens County, NY
Vacancy
6.50%
Lease Rate
$66.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,166,020
Cap Rate 7%
$1,547,157
Cap Rate 9%
$1,203,344
Alternative Uses
Best Use
Specialty Retail
$1.55M
$1.35M – $1.81M
NOI $108,301 @ 7.0% cap · market cap 7.23%
Second Best
Apartment 5plus
$817.1K
$715.0K – $953.3K
NOI $57,200 @ 7.0% cap · market cap 3.82%
Theoretical Best
Office A
$1.73M
$1.51M – $2.01M
NOI $120,755 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,966
Businesses Nearby
Under-served
Demand for This Use
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
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Similar Off Market Nearby
- C-Town Farmers Market — 58-02 Metropolitan Ave, Queens, NY 11385
- Western Beef Supermarket — 47-05 Metropolitan Ave, Queens, NY 11385
- Grand Supercenter Inc — 4708 Grand Ave, Flushing, NY 11378
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Ground-floor grocery lease with two upstairs two-bedroom, one-bath apartments in a high-traffic building built in 1901.
Where is this grocery and convenience store located?
The property is located at 70-07 Grand Avenue Maspeth, NY.
What is the asking price?
The asking price for this property is $1,498,000.
What are key features of this property?
This property features: Ground floor leased to a grocery store; Two upstairs apartments, each two bedrooms and one bathroom; High‑traffic mixed‑use building
