Mixed-Use Building with
New
For Sale
$1,300,000
8703 81st Road, Glendale, NY 11385
A bakery-occupied commercial unit and two apartments create a combined-use property, with residential spaces requiring renovation.
Property Size2,492 SF
Days on Market4
Property Features for 8703 81st Road
General Information
Standard status
Active
Size
2,492 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$7,744
Building Details
Building Size
2,492 SF
Year Built
1940
Listing Agency:
BERKSHIRE HATHAWAY
Listed By:
Fatima Smith AHWD
(516) 668-9154
Source:
Serhant
Added: Oct 26
Changed: Oct 28
Last Checked: Oct 28 at 4:14PM
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 BERKSHIRE HATHAWAY
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Investment Insights
Based on property information with market context.
At 8703 81st Road, this two-story mixed-use property contains approximately 2,492 square feet. The ground floor includes a commercial unit and basement; a bakery currently occupies the commercial space. Two two-bedroom apartments are situated above and require renovation. They will be vacant at closing. The building dates to 1940 and measures approximately 20 feet by 65 feet, on an irregular lot of approximately 20 feet by 100 feet.
The property is in Glendale, just off Myrtle Avenue. Zoning is R5 with a C1-2 commercial overlay.
The property is in Glendale, just off Myrtle Avenue. Zoning is R5 with a C1-2 commercial overlay.
Key Highlights
- Ground‑floor commercial space is occupied by a bakery
- Two two‑bedroom apartments above the commercial space; delivered vacant at closing and require renovation
- Approximately 2,492 square feet in a two‑story building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,915
Cap Rate
4.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,218,300
$1.2M
Cap Rate 7%
$870,214
$870.2K
Cap Rate 9%
$676,833
$676.8K
Market Conditions
NOI Build-Up for 2,492 SF
Gross rent
$115.1K $46.20/SF
− Vacancy
−$4.4K −$1.76/SF
EGI
$110.8K $44.44/SF
− OpEx
−$49.8K −$20.00/SF
NOI
$60.9K $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%
$1,218,300
Cap Rate 7%
$870,214
Cap Rate 9%
$676,833
Alternative Uses
Best Use
Apartment 5plus
$870.2K
$761.4K – $1.02M
NOI $60,915 @ 7.0% cap · market cap 4.69%
Second Best
Retail
$635.5K
$556.0K – $741.4K
NOI $44,482 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$1.84M
$1.61M – $2.14M
NOI $128,599 @ 7.0% cap · market cap 9.89%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,489
Businesses Nearby
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Business Placement
Demographics for 11385, NY
100,883
Population
40,175
Households
2.5
Avg Household Size
36
Median Age
34%
College-Educated
84%
High-School Grad
3.6 sq mi
ZIP Area
28,023
Density / Sq Mi
$87,365
Median Household Income
$47,335
Median Earnings
$1,959
Median Rent
$842,800
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 - A bakery-occupied commercial unit and two apartments create a combined-use property, with residential spaces requiring renovation.
Where is this mixed-use property located?
The property is located at 8703 81st Road Glendale, NY.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Ground‑floor commercial space is occupied by a bakery; Two two‑bedroom apartments above the commercial space; delivered vacant at closing and require renovation; Approximately 2,492 square feet in a two‑story building
