Mixed-Use Building with
7501 88TH ST, Glendale, NY 11385
For Sale
Contact for pricing
Mixed commercial and residential property with a restaurant, office building, garages, and three residential units.
Property Size3,444 SF
Price / SF$522.36
Days on Market99
Property Features for 7501 88TH ST
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Investment Type
Site & Location
Public Transit
Utilities to Site
Units
Unit Mix
Multifamily Units
Office Units
Building Details
Year Built
Buildings
Stories
Units
Tenancy
Owner Occupied
Listing Agency:
Crifasi Real Estate Inc
Listed By:
Sal Joseph Crifasi · License NY #10301205163
(718) 782-4411
Source:
Crexi
Added: Aug 7
Changed: Nov 7
Last Checked: Nov 12 at 8:19AM
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.
Built in 1931, this 3,444 SF mixed-use property combines commercial, residential, and accessory garage space within one building. The commercial portion includes an approximately 400 s/f operating ghost kitchen, an approximately 650 s/f detached office building delivered vacant, three garages, and a driveway serving a rear oversized 2 vehicle garage. Full basements and gas heating serve the property.
The residential component includes three units: a three-bedroom first-floor residence with an eat-in kitchen, living and dining areas, and one full bathroom; a vacant three-bedroom duplex; and a second-floor two-bedroom apartment with an eat-in kitchen, living room, and one full bathroom. R4B and C1-2 zoning supports the property’s mixed-use configuration.
The residential component includes three units: a three-bedroom first-floor residence with an eat-in kitchen, living and dining areas, and one full bathroom; a vacant three-bedroom duplex; and a second-floor two-bedroom apartment with an eat-in kitchen, living room, and one full bathroom. R4B and C1-2 zoning supports the property’s mixed-use configuration.
Key Highlights
- 3,444 SF mixed‑use property built in 1931
- Approximately 400 s/f operating ghost kitchen
- Approximately 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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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
1
Office units
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,634
Businesses Nearby
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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
$842,800
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Queens County, NY
Properties on Market for Mixed-use properties in Queens County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed commercial and residential property with a restaurant, office building, garages, and three residential units.
Where is this mixed-use property located?
The property is located at 7501 88TH ST 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 built in 1931; Approximately 400 s/f operating ghost kitchen; Approximately 650 s/f separate office building delivered vacant
