Six-Story Mixed-Use
For Sale
Contact for pricing
73-02 Roosevelt Avenue, Woodside, NY 11377
Corner property with 2010 construction and active 421-A and ICIP tax abatements.
Property Size56,799 SF
Price / SF$457.75
Days on Market9
Property Features for 73-02 Roosevelt Avenue
General Information
Standard status
Active
Size
56,799 SF
Property subtype
Mixed Use, Multifamily
Occupancy
97%
Additional Details
Public Transit
Yes
Building Details
Year Built
2010
Buildings
1
Stories
6
Listing Agency:
Meridian Capital Group
Listed By:
Eugene Kim · License #NY 40KI1106013
(646) 502-3483
Source:
Crexi
Added: Sep 5
Changed: Sep 10
Last Checked: Sep 13 at 5:08AM
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 Meridian Capital Group
Investment Insights
Based on property information with market context.
This six-story corner mixed-use apartment building was constructed in 2010 and contains approximately 56,799 square feet, including 43,118 SF above grade. The property is 97% occupied and benefits from 421-A and ICIP tax abatements with 10-11 remaining years.
The building is located at 73-02 Roosevelt Avenue in Woodside, NY 11377, near the Roosevelt Ave-74th St transit hub. Its mixed-use configuration and apartment-building component provide a substantial urban property profile with established occupancy and documented tax-abatement terms.
The building is located at 73-02 Roosevelt Avenue in Woodside, NY 11377, near the Roosevelt Ave-74th St transit hub. Its mixed-use configuration and apartment-building component provide a substantial urban property profile with established occupancy and documented tax-abatement terms.
Key Highlights
- Approximately 56,799 square feet, including 43,118 SF above grade
- Six‑story corner mixed‑use apartment building
- 97% occupied
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
$1,388,419
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
5.34%
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%
$27,768,380
$27.8M
Cap Rate 7%
$19,834,557
$19.8M
Cap Rate 9%
$15,426,878
$15.4M
Market Conditions
NOI Build-Up for 56,799 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
$2.62M $46.20/SF
− Vacancy
−$99.7K −$1.76/SF
EGI
$2.52M $44.44/SF
− OpEx
−$1.14M −$20.00/SF
NOI
$1.39M $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%
$27,768,380
Cap Rate 7%
$19,834,557
Cap Rate 9%
$15,426,878
Alternative Uses
Best Use
Apartment 5plus
$19.83M
$17.36M – $23.14M
NOI $1,388,419 @ 7.0% cap · market cap 5.34%
Second Best
Mixed Use
$10.44M
$9.14M – $12.18M
NOI $731,003 @ 7.0% cap · market cap 2.81%
Theoretical Best
Office A
$41.87M
$36.64M – $48.85M
NOI $2,931,101 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
97%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,847
Businesses Nearby
Explore this area
Business Placement
Demographics for 11377, NY
91,512
Population
34,928
Households
2.6
Avg Household Size
39
Median Age
33%
College-Educated
82%
High-School Grad
2.5 sq mi
ZIP Area
36,605
Density / Sq Mi
$73,292
Median Household Income
$45,978
Median Earnings
$1,802
Median Rent
$670,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner property with 2010 construction and active 421-A and ICIP tax abatements.
Where is this mixed-use property located?
The property is located at 73-02 Roosevelt Avenue Woodside, NY.
What is the asking price?
The asking price for this property is $26,000,000.
What are key features of this property?
This property features: Approximately 56,799 square feet, including 43,118 SF above grade; Six‑story corner mixed‑use apartment building; 97% occupied
