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 Market1214
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
16,800.00
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
(718) 429-4400
Listed By:
Victor Weinberger · License #40WE0641759
(718) 429-4400
Source:
Compass
Added: May 7, 2023
Changed: Aug 30
Last Checked: Aug 31 at 9:57PM
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
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 = 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
$410,666
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
5.91%
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%
$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
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
$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 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%
$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.
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
Questions? Ask Rey
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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
