Two-Story Mixed-Use
New
For Sale
$1,300,000
8703 81st Road, Glendale, NY 11385
Commercial Sale, Glendale, NY
Property Size2,492 SF
Lot Size0.05 Acres
Price / SF$521.67
Days on Market1
Property Features for 8703 81st Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R4-1
Rooms
Basement
Parking features
On Street
Elementary school district
Queens 24
Middle school district
Queens24
High school district
Queens24
Standard status
Active
APN
03849-0034
Lot size
0.05 Acres
Tenancy & Operations
Currently Operating
Yes
Tenant in Place
Yes
Additional Details
Mixed-Use Components
retail, residential
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7744
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1940
Building materials
Brick
Buildings
1
Listing Agency:
BERKSHIRE HATHAWAY · Berkshire Hathaway HomeServices
(516) 741-3070
Listed By:
Fatima Smith AHWD
(516) 668-9154
Added: Oct 26
Last Checked: Oct 26 at 10:06PM
MLS# 1066228
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1940, this brick mixed-use property contains approximately 2,492 square feet across two stories. The ground floor includes a commercial space and basement, currently occupied by a bakery. Two two-bedroom apartments are located above; both need renovation and are scheduled to be vacant at closing. The building measures approximately 20 feet by 65 feet, on an irregular lot measuring approximately 20 feet by 100 feet.
The property is in Glendale, just off Myrtle Avenue. Public water and sewer serve the building, and parking is on street.
The property is in Glendale, just off Myrtle Avenue. Public water and sewer serve the building, and parking is on street.
Key Highlights
- Approximately 2,492 square feet in a two‑story building
- Ground‑floor commercial unit with basement, currently occupied by a bakery
- Two two‑bedroom apartments require renovation and will be vacant at closing
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
Lease Details
2
Residential units
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 ground-floor commercial unit and two residential apartments combine retail and housing in one property.
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: Approximately 2,492 square feet in a two‑story building; Ground‑floor commercial unit with basement, currently occupied by a bakery; Two two‑bedroom apartments require renovation and will be vacant at closing
