Mixed-Use Corner
For Sale
$2,450,000
77-02 164th Street, Fresh Meadows, NY 11366
Restaurant space, residential floors, parking, and a private terrace create a flexible mixed-use configuration.
Property Size4,400 SF
Days on Market229
Property Features for 77-02 164th Street
General Information
Standard status
Active
Size
4,400 SF
Property subtype
Commercial
Site & Location
Road Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$31,828
Amenities
garage
private terrace
Building Details
Building Size
4,400 SF
Buildings
1
Stories
3
Listing Agency:
Goldstone N Y Realty LLC
(718) 308-1576
Listed By:
Yunzhong A. Sun
(646) 731-8258
Source:
Cornerstonemyhome
Added: Jan 18
Changed: Sep 3
Last Checked: Aug 25 at 9:14AM
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 Goldstone N Y Realty LLC
Investment Insights
Based on property information with market context.
This mixed-use property combines a ground-floor commercial area of approximately 2,500 SF with two upper residential or office levels. The first floor is arranged for restaurant use and includes rear parking plus an additional garage of approximately 750 SF. The second floor contains 4 bedrooms, 1.5 bathrooms, and a private terrace measuring approximately 1,000 SF; the third floor adds 3 bedrooms and 1 full bathroom.
The property occupies a corner on 164th Street in Fresh Meadows, with a Q65 bus stop at the corner and additional bus service nearby. Union Turnpike is three blocks away, providing access to QM1, QM5, QM6, QM7, QM8, QM31, QM35, and QM36 service to Manhattan. The garage is currently rented, and the property can be delivered vacant.
The property occupies a corner on 164th Street in Fresh Meadows, with a Q65 bus stop at the corner and additional bus service nearby. Union Turnpike is three blocks away, providing access to QM1, QM5, QM6, QM7, QM8, QM31, QM35, and QM36 service to Manhattan. The garage is currently rented, and the property can be delivered vacant.
Key Highlights
- Approximately 2,500 SF ground‑floor commercial area configured for restaurant use
- Additional garage measuring approximately 750 SF with rear parking
- Second floor includes 4 bedrooms, 1.5 bathrooms, and an approximately 1,000 SF private terrace
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
$203,643
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
8.31%
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%
$4,072,860
$4.1M
Cap Rate 7%
$2,909,186
$2.9M
Cap Rate 9%
$2,262,700
$2.3M
Market Conditions
NOI Build-Up for 4,400 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
$290.4K $66.00/SF
− Vacancy
−$18.9K −$4.29/SF
EGI
$271.5K $61.71/SF
− OpEx
−$67.9K −$15.43/SF
NOI
$203.6K $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 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%
$4,072,860
Cap Rate 7%
$2,909,186
Cap Rate 9%
$2,262,700
Alternative Uses
Best Use
Specialty Retail
$2.91M
$2.55M – $3.39M
NOI $203,643 @ 7.0% cap · market cap 8.31%
Second Best
Mixed Use
$809.0K
$707.9K – $943.8K
NOI $56,628 @ 7.0% cap · market cap 2.31%
Theoretical Best
Office A
$3.24M
$2.84M – $3.78M
NOI $227,061 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
765
Businesses Nearby
30k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
McDonald's
Dining
30,225 visits/mo
0.5 miles
Demographics for 11366, NY
14,430
Population
4,915
Households
2.9
Avg Household Size
41
Median Age
52%
College-Educated
85%
High-School Grad
1.5 sq mi
ZIP Area
9,620
Density / Sq Mi
$117,402
Median Household Income
$58,028
Median Earnings
$2,101
Median Rent
$950,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Restaurant space, residential floors, parking, and a private terrace create a flexible mixed-use configuration.
Where is this mixed-use property located?
The property is located at 77-02 164th Street Fresh Meadows, NY.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: Approximately 2,500 SF ground‑floor commercial area configured for restaurant use; Additional garage measuring approximately 750 SF with rear parking; Second floor includes 4 bedrooms, 1.5 bathrooms, and an approximately 1,000 SF private terrace
