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
Price / SF$640.17
Days on Market81
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
Building Details
Building Size
2,340 SF
Year Built
1901
Tenancy
Multi
Listing Agency:
Winzone Realty Inc
(646) 633-2828
Listed By:
Vera Y. Wu
Source:
Cbwarburg
Added: May 12
Changed: Jul 31
Last Checked: Jul 31 at 6:35AM
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 For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $154.4k | $66.00 |
| − Vacancy | −$10.0k | −$4.29 |
| EGI | $144.4k | $61.71 |
| − OpEx | −$36.1k | −$15.43 |
| NOI | $108.3k | $46.28 |
2,340 SF · lease $66.00/SF/yr · vacancy 6.50% · expense 25.00%
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
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,130
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Grand Supercenter Inc — 4708 Grand Ave, Flushing, NY 11378
- Western Beef Supermarket — 47-05 Metropolitan Ave, Queens, NY 11385
- C-Town Farmers Market — 58-02 Metropolitan Ave, Queens, NY 11385
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
