Mixed-Use Building with
For Sale
$2,680,000
84-38 Grand Avenue, Elmhurst, NY 11373
Three apartments occupy the upper floors above a ground-level commercial space.
Property Size4,488 SF
Price / SF$597.15
Days on Market139
Property Features for 84-38 Grand Avenue
General Information
Standard status
Active
Size
4,488 SF
Property subtype
Commercial
Occupancy
100%
Site & Location
Public Transit
Yes
Mixed-Use Components
retail, residential
Additional Details
Multifamily Units
3
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$17,002
Building Details
Building Size
4,488 SF
Year Built
2006
Units
3
Construction
brick
Tenancy
Multi
Listing Agency:
Graceful Realty LLC
(718) 353-0068
Listed By:
Yat Cheung Lam
(718) 755-8709
Source:
Croninreale
Added: Jun 8
Changed: Oct 23
Last Checked: Oct 23 at 9:51AM
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 Graceful Realty LLC
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Investment Insights
Based on property information with market context.
Completed in 2006, this 4,488-square-foot brick mixed-use property combines one storefront with three residential apartments above. The building is fully rented, bringing commercial and residential space together in a single property.
Transit options nearby include the Q58 bus and N and R trains. A supermarket and schools are also close by.
Transit options nearby include the Q58 bus and N and R trains. A supermarket and schools are also close by.
Key Highlights
- 4,488‑square‑foot brick mixed‑use property
- One storefront with three apartments above
- Built in 2006
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$109,707
Cap Rate
4.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,194,140
$2.2M
Cap Rate 7%
$1,567,243
$1.6M
Cap Rate 9%
$1,218,967
$1.2M
Market Conditions
NOI Build-Up for 4,488 SF
Gross rent
$207.3K $46.20/SF
− Vacancy
−$7.9K −$1.76/SF
EGI
$199.5K $44.44/SF
− OpEx
−$89.8K −$20.00/SF
NOI
$109.7K $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%
$2,194,140
Cap Rate 7%
$1,567,243
Cap Rate 9%
$1,218,967
Alternative Uses
Best Use
Apartment 5plus
$1.57M
$1.37M – $1.83M
NOI $109,707 @ 7.0% cap · market cap 4.09%
Second Best
Retail
$1.14M
$1.00M – $1.34M
NOI $80,111 @ 7.0% cap · market cap 2.99%
Theoretical Best
Office A
$3.31M
$2.90M – $3.86M
NOI $231,602 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,966
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three apartments occupy the upper floors above a ground-level commercial space.
Where is this mixed-use property located?
The property is located at 84-38 Grand Avenue Elmhurst, NY.
What is the asking price?
The asking price for this property is $2,680,000.
What are key features of this property?
This property features: 4,488‑square‑foot brick mixed‑use property; One storefront with three apartments above; Built in 2006
