Building Details

Year built 1931

Floors in Building 2

Listing Agency: Serhant LLC s***@serhant.com

Listed By: Ryan Serhant Show Phone

Added: Sep 4 Changed: Oct 13 Last Checked: Oct 20 at 9:06AM

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MLS# 1047125

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Investment Insights

Based on property information with market context.

Built in 1931, this two-story mixed-use property contains 2,576 SF of commercial and residential space. The building includes a long-term restaurant tenant alongside two free-market residential units that are currently vacant.

The property is located at 83-13 Broadway in Elmhurst, Queens, NY 11373. Its configuration combines an operating restaurant component with residential space in a single building, offering a straightforward mixed-use layout for users evaluating both commercial and residential occupancy.

Key Highlights

• 2,576 SF mixed‑use property
• Two‑story building constructed in 1931
• Long‑term restaurant tenant in place

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$119,224

Cap Rate

6.44%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,384,480 $2.4M

Cap Rate 7%

$1,703,200 $1.7M

Cap Rate 9%

$1,324,711 $1.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,576 SF

Gross rent

$170.0K $66.00/SF

− Vacancy

−$11.1K −$4.29/SF

EGI

$159.0K $61.71/SF

− OpEx

−$39.7K −$15.43/SF

NOI

$119.2K $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%

$2,384,480

Cap Rate 7%

$1,703,200

Cap Rate 9%

$1,324,711

Alternative Uses

Best Use

Specialty Retail

$1.70M

$1.49M – $1.99M (±1% cap)

NOI $119,224 @ 7.0% cap · market cap 6.44%

Second Best

Apartment 5plus

$899.6K

$787.1K – $1.05M (±1% cap)

NOI $62,969 @ 7.0% cap · market cap 3.40%

Theoretical Best

Office A

$1.90M

$1.66M – $2.22M (±1% cap)

NOI $132,934 @ 7.0% cap · market cap 7.19%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Sweet Yummy House Restaurant Guereca Services Plumbing Service

Suggested Use

Top Pick Real Estate Agency Law Firm Gym & Fitness Center Parking Lot & Garage Hotel & Motel Nursing Home

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

7,526

Businesses Nearby

180k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 47% Dining 34% Home Improvements & Furnishings 9% Groceries 5%

McDonald's Dining

42,064 visits/mo 0.3 miles

Chase Bank Shops & Services

20,943 visits/mo 0.4 miles

Speedway Shops & Services

19,441 visits/mo 0.4 miles

Citibank Shops & Services

16,364 visits/mo 0.4 miles

TD Bank Shops & Services

16,130 visits/mo 0.4 miles

Demographics for 11373, NY

105,712

Population

34,797

Households

3

Avg Household Size

38

Median Age

30%

College-Educated

75%

High-School Grad

1.5 sq mi

ZIP Area

70,475

Density / Sq Mi

$71,470

Median Household Income

$36,043

Median Earnings

$1,913

Median Rent

$683,200

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - The building combines a restaurant tenancy with two vacant free-market residential units.

Where is this mixed-use property located?

The property is located at 83-13 BROADWAY Queens, NY.

What is the asking price?

The asking price for this property is $1,850,000.

What are key features of this property?

This property features: 2,576 SF mixed‑use property; Two‑story building constructed in 1931; Long‑term restaurant tenant in place