Mixed-Use Building with
New
For Sale
$1,498,000
70-07 Grand Avenue, Maspeth, NY 11378
A leased grocery storefront is paired with two upstairs residential units.
Property Size2,340 SF
Price / SF$640.17
Days on Market3
Property Features for 70-07 Grand Avenue
General Information
Standard status
Active
Size
2,340 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$90,000
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$9,437
Building Details
Building Size
2,340 SF
Year Built
1901
Units
2
Listing Agency:
Winzone Realty Inc
Listed By:
Vera Y. Wu
(646) 633-2828
Source:
Georgemcknight
Added: Oct 23
Changed: Oct 24
Last Checked: Oct 24 at 3:12PM
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
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Investment Insights
Based on property information with market context.
This 2,340-square-foot mixed-use property was built in 1901. A grocery store occupies the ground floor, with two apartments above, each configured with two bedrooms and one bathroom.
The building combines an existing retail tenancy with residential units in a single property.
The building combines an existing retail tenancy with residential units in a single property.
Key Highlights
- Ground‑floor grocery store is leased
- Two upstairs apartments, each with 2 bedrooms and 1 bathroom
- 2,340 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$108,301
Cap Rate
7.23%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,966
Businesses Nearby
91k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 60%
Groceries 28%
Dining 8%
Home Improvements & Furnishings 4%
Western Beef
Groceries
25,623 visits/mo
0.2 miles
Chase Bank
Shops & Services
17,906 visits/mo
0.3 miles
BP
Shops & Services
14,392 visits/mo
0.3 miles
Sunoco
Shops & Services
10,256 visits/mo
0.3 miles
Citibank
Shops & Services
9,799 visits/mo
0.3 miles
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 Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A leased grocery storefront is paired with two upstairs residential units.
Where is this mixed-use property 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 grocery store is leased; Two upstairs apartments, each with 2 bedrooms and 1 bathroom; 2,340 square feet
