Grocery and Convenience
For Sale
$4,690,000
79-20 Roosevelt Avenue, Jackson Heights, NY 11372
Built in 1932, the property has ductless and baseboard systems.
Property Size4,535 SF
Days on Market35
Property Features for 79-20 Roosevelt Avenue
General Information
Standard status
Active
Size
4,535 SF
Taxes and HOA fees
Annual Taxes
$64,437
Amenities
Ductless
Baseboard
Building Details
Building Size
4,535 SF
Year Built
1932
Listed By:
Li Li
(646) 889-9988
Source:
Evrealestate
Added: Aug 27
Changed: Sep 28
Last Checked: Sep 29 at 10:46AM
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 Li Li
Investment Insights
Based on property information with market context.
This grocery and convenience store property at 79-20 Roosevelt Avenue in Jackson Heights was built in 1932. Interior systems include ductless and baseboard heating. The property is in Queens, New York.
Key Highlights
- Grocery and convenience store property
- Built in 1932
- Ductless and baseboard interior systems
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
$209,891
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
4.48%
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%
$4,197,820
$4.2M
Cap Rate 7%
$2,998,443
$3.0M
Cap Rate 9%
$2,332,122
$2.3M
Market Conditions
NOI Build-Up for 4,535 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
$299.3K $66.00/SF
− Vacancy
−$19.5K −$4.29/SF
EGI
$279.9K $61.71/SF
− OpEx
−$70.0K −$15.43/SF
NOI
$209.9K $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%
$4,197,820
Cap Rate 7%
$2,998,443
Cap Rate 9%
$2,332,122
Alternative Uses
Best Use
Specialty Retail
$3.00M
$2.62M – $3.50M
NOI $209,891 @ 7.0% cap · market cap 4.48%
Second Best
Retail
$1.16M
$1.01M – $1.35M
NOI $80,950 @ 7.0% cap · market cap 1.73%
Theoretical Best
Office A
$3.34M
$2.93M – $3.90M
NOI $234,028 @ 7.0% cap · market cap 4.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,847
Businesses Nearby
218k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 45%
Dining 27%
Groceries 11%
Office Supplies 9%
Staples
Office Supplies
19,965 visits/mo
0.4 miles
Bank of America
Shops & Services
17,011 visits/mo
0.2 miles
Starbucks
Dining
16,082 visits/mo
0.2 miles
White Castle
Dining
15,897 visits/mo
0.3 miles
Mobil
Shops & Services
15,832 visits/mo
0.0 miles
Demographics for 11372, NY
68,000
Population
26,613
Households
2.6
Avg Household Size
41
Median Age
35%
College-Educated
81%
High-School Grad
0.7 sq mi
ZIP Area
97,143
Density / Sq Mi
$77,133
Median Household Income
$44,415
Median Earnings
$1,795
Median Rent
$454,400
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
Questions? Ask Rey
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Similar Off Market Nearby
- SuperFresh — 41-25 Greenpoint Ave, Queens, NY 11104
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- Green Tara Supermarket — 45-62 48th St, Woodside, NY 11377
- Key Food Supermarkets — 61-10 Queens Blvd, Queens, NY 11377
- Parrot Coffee Market Place 2 — 47-11 Queens Blvd, Queens, NY 11104
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Built in 1932, the property has ductless and baseboard systems.
Where is this grocery and convenience store located?
The property is located at 79-20 Roosevelt Avenue Jackson Heights, NY.
What is the asking price?
The asking price for this property is $4,690,000.
What are key features of this property?
This property features: Grocery and convenience store property; Built in 1932; Ductless and baseboard interior systems
