Mixed-Use Property with
For Sale
$1,799,000
75-01 88th Street, Glendale, NY 11385
The building combines residential apartments with restaurant, office, and garage space, including a vacant office component.
Property Size3,444 SF
Price / SF$522.36
Days on Market174
Property Features for 75-01 88th Street
General Information
Standard status
Active
Size
3,444 SF
Total Parking Spaces
11
Property subtype
Commercial
Zoning
R4B
Units
Unit Mix
1 x 3BR, 1 x 3BR duplex, 1 x 2BR
Multifamily Units
3
Office Units
1
Additional Details
Public Transit
Yes
Tenant in Place
Yes
Property Use
Office
Taxes and HOA fees
Annual Taxes
$35,607
Building Details
Building Size
3,444 SF
Year Built
1931
Buildings
4
Units
7
Listing Agency:
Crifasi Real Estate Inc
(718) 821-5999
Listed By:
Joseph V. Crifasi · License #30CR1126424
(718) 930-0040
Source:
Croninreale
Added: May 5
Changed: Oct 25
Last Checked: Oct 23 at 5:36PM
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 Crifasi Real Estate Inc
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Investment Insights
Based on property information with market context.
This 3,444-square-foot mixed-use property, built in 1931, contains three residential units and several commercial components. The approximately 400-square-foot restaurant operates as a ghost kitchen and is leased. A separate office building of approximately 650 square feet is vacant. Three garages are rented, and a rear oversized two-vehicle garage space is leased through January 2027. The residential layouts include two three-bedroom units—one arranged as a duplex—and a two-bedroom unit; the source also describes an eat-in kitchen, living and dining areas, and full bathrooms. Gas heat and full basements serve the property.
The property is zoned R4B. Tenants pay their own cooking gas and electricity. The office space is available for owner occupancy or leasing, while the restaurant and garage components are currently leased.
The property is zoned R4B. Tenants pay their own cooking gas and electricity. The office space is available for owner occupancy or leasing, while the restaurant and garage components are currently leased.
Key Highlights
- 3,444 SF mixed‑use property with three residential units
- Approx. 400 s/f restaurant used as a ghost kitchen and currently leased
- Approx. 650 s/f separate office building delivered vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$159,397
Cap Rate
8.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,187,940
$3.2M
Cap Rate 7%
$2,277,100
$2.3M
Cap Rate 9%
$1,771,078
$1.8M
Market Conditions
NOI Build-Up for 3,444 SF
Gross rent
$227.3K $66.00/SF
− Vacancy
−$14.8K −$4.29/SF
EGI
$212.5K $61.71/SF
− OpEx
−$53.1K −$15.43/SF
NOI
$159.4K $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%
$3,187,940
Cap Rate 7%
$2,277,100
Cap Rate 9%
$1,771,078
Alternative Uses
Best Use
Specialty Retail
$2.28M
$1.99M – $2.66M
NOI $159,397 @ 7.0% cap · market cap 8.86%
Second Best
Office B
$1.62M
$1.42M – $1.89M
NOI $113,390 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$2.54M
$2.22M – $2.96M
NOI $177,727 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Office units
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,737
Businesses Nearby
Explore this area
Business Placement
Demographics for 11385, NY
100,883
Population
40,175
Households
2.5
Avg Household Size
36
Median Age
34%
College-Educated
84%
High-School Grad
3.6 sq mi
ZIP Area
28,023
Density / Sq Mi
$87,365
Median Household Income
$47,335
Median Earnings
$1,959
Median Rent
$842,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The building combines residential apartments with restaurant, office, and garage space, including a vacant office component.
Where is this mixed-use property located?
The property is located at 75-01 88th Street Glendale, NY.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: 3,444 SF mixed‑use property with three residential units; Approx. 400 s/f restaurant used as a ghost kitchen and currently leased; Approx. 650 s/f separate office building delivered vacant
