Five-Story Mixed-Use
For Sale
$6,950,000
83-17 Broadway, Queens, NY 11373
Mixed-use property combining twelve residential units with a multilevel restaurant component and convenient subway access.
Property Size16,800 SF
Price / SF$413.69
Days on Market1493
Property Features for 83-17 Broadway
General Information
Standard status
Active
Size
16,800 SF
Property subtype
Multi Family
Net Operating Income
$316,000
Additional Details
Public Transit
Yes
Seating Capacity
300
Multifamily Units
12
Taxes and HOA fees
Annual Taxes
$72,000
Amenities
No, .00, No, None
Square Feet, 38x113
Full
Apartment, Public
16800
50
2+ Common Walls
Square Feet
Exposure West
West
Public Maintained Road
No
Brick
Building Details
Year Built
2006
Stories
5
Listing Agency:
RE/MAX Team
Listed By:
Victor Weinberger · License #40WE0641759
(718) 429-4400
Source:
Compass
Added: Sep 17, 2022
Changed: Oct 11
Last Checked: Oct 16 at 10:53AM
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 RE/MAX Team
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This five-story mixed-use building contains 16,800 square feet with 12 family units and an integrated restaurant occupying 8,000 square feet across multiple levels. The restaurant is configured for seating capacity of up to 300 people, creating a substantial commercial component within the property. The building was constructed in 2006 and features brick exterior construction.
The property is located at 83-17 Broadway in Queens, two blocks from the subway and near Elmhurst Hospital. It fronts a publicly maintained road and has west exposure. The interior includes apartment and public areas, supporting the building’s combined residential and restaurant layout.
The property is located at 83-17 Broadway in Queens, two blocks from the subway and near Elmhurst Hospital. It fronts a publicly maintained road and has west exposure. The interior includes apartment and public areas, supporting the building’s combined residential and restaurant layout.
Key Highlights
- 16,800‑square‑foot, five‑story mixed‑use building constructed in 2006
- 12 family units within the residential component
- 8,000 SF multi‑level restaurant space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$410,666
Cap Rate
5.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,213,320
$8.2M
Cap Rate 7%
$5,866,657
$5.9M
Cap Rate 9%
$4,562,956
$4.6M
Market Conditions
NOI Build-Up for 16,800 SF
Gross rent
$776.2K $46.20/SF
− Vacancy
−$29.5K −$1.76/SF
EGI
$746.7K $44.44/SF
− OpEx
−$336.0K −$20.00/SF
NOI
$410.7K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,213,320
Cap Rate 7%
$5,866,657
Cap Rate 9%
$4,562,956
Alternative Uses
Best Use
Specialty Retail
$11.11M
$9.72M – $12.96M
NOI $777,546 @ 7.0% cap · market cap 11.19%
Second Best
Apartment 5plus
$5.87M
$5.13M – $6.84M
NOI $410,666 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$12.39M
$10.84M – $14.45M
NOI $866,961 @ 7.0% cap · market cap 12.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
4,334
Businesses Nearby
Explore this area
Business Placement
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 Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property combining twelve residential units with a multilevel restaurant component and convenient subway access.
Where is this mixed-use property located?
The property is located at 83-17 Broadway Queens, NY.
What is the asking price?
The asking price for this property is $6,950,000.
What are key features of this property?
This property features: 16,800‑square‑foot, five‑story mixed‑use building constructed in 2006; 12 family units within the residential component; 8,000 SF multi‑level restaurant space
