Mixed-Use Building in
81-38 Baxter Avenue Elmhurst, NY 11373
81-38 Baxter Avenue, Elmhurst, NY, 11373
$2,550,000
For Sale
$2,550,000
Mixed-use building near train, hospital, retail, and residential spaces.
Property Size4,032 SF
Price / SF$632.44
Days on Market1348
Property Features for 81-38 Baxter Avenue
General Information
- Standard status
- Active
- Size
- 4,032 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1917
Listing Agency
A Class Realty
(516) 226-1420
Listed by
Anthoane C Peralta · License #10491211907
(516) 226-1420
Source
Compass
Added: Nov 7, 2022 Checked: Jul 17 at 3:53 am
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 A Class Realty
Investment Insights
Based on property information with market context.
Located in Elmhurst, this three-story mixed-use building includes a basement. The property is situated near the 7 train, Elmhurst Hospital, restaurants, coffee shops, supermarkets, and banks. The building features retail spaces on the lower level and ground floor, with residential apartments on the second and third floors. The property size is 4032 square feet. The residential units consist of rent-stabilized 1-bedroom apartments.
Key Highlights
- Steps away from the 7 train.
- Prime location in the heart of Elmhurst.
- Close proximity to Elmhurst Hospital, restaurants, coffee shops, supermarkets, and banks.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $186.3k | $46.20 |
| − Vacancy | −$7.1k | −$1.76 |
| EGI | $179.2k | $44.44 |
| − OpEx | −$80.6k | −$20.00 |
| NOI | $98.6k | $24.44 |
4,032 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.41M
$1.23M – $1.64M
NOI $98,560 @ 7.0% cap · market cap 3.87%
Second Best
Retail
$1.03M
$899.6K – $1.20M
NOI $71,971 @ 7.0% cap · market cap 2.82%
Theoretical Best
Office A
$2.97M
$2.60M – $3.47M
NOI $208,071 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Mixed-use building near train, hospital, retail, and residential spaces.
Where is this mixed-use property located?
The property is located at 81-38 Baxter Avenue Elmhurst, NY.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: Steps away from the 7 train.; Prime location in the heart of Elmhurst.; Close proximity to Elmhurst Hospital, restaurants, coffee shops, supermarkets, and banks.
