Two-Story Mixed-Use
For Sale
$1,280,000
901 College Point Boulevard, College Point, NY 11356
Vacant commercial and residential configuration with two apartments and multiple ground-floor spaces.
Property Size3,700 SF
Lot Size0.06 Acres
Days on Market152
Property Features for 901 College Point Boulevard
General Information
Standard status
Active
Size
3,700 SF
Lot size
0.06 Acres
Property subtype
Commercial
Zoning
R4A
Units
Unit Mix
1 x 1BR, 1 x 2BR
Multifamily Units
2
Additional Details
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$11,782
Building Details
Building Size
3,700 SF
Year Built
1920
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Century Homes Realty Group LLC
(718) 309-6944
Listed By:
Khalid Rafey · License #10301212671
(718) 309-6944
Source:
Alexandermadisonhomes
Added: Apr 1
Changed: Aug 29
Last Checked: Aug 25 at 9:08AM
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 Century Homes Realty Group LLC
Investment Insights
Based on property information with market context.
Located at 901 College Point Boulevard in College Point, New York, this two-story mixed-use building combines commercial and residential components on an approximately 2,500-square-foot lot. The corner property includes two commercial spaces at street level, along with a separate rear area formerly used as an office and additional storage space.
The upper floor contains two apartments: one with one bedroom and another with two bedrooms. The property is delivered vacant, allowing the commercial and residential areas to be evaluated without existing occupancy. Built in 1920 and zoned R4A, the building presents a combination of storefront, office/storage, and apartment layouts within a single structure.
The upper floor contains two apartments: one with one bedroom and another with two bedrooms. The property is delivered vacant, allowing the commercial and residential areas to be evaluated without existing occupancy. Built in 1920 and zoned R4A, the building presents a combination of storefront, office/storage, and apartment layouts within a single structure.
Key Highlights
- Approximately 2,500‑square‑foot corner lot
- Two ground‑floor commercial spaces
- Rear office area with additional storage
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
$90,444
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
7.07%
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%
$1,808,880
$1.8M
Cap Rate 7%
$1,292,057
$1.3M
Cap Rate 9%
$1,004,933
$1.0M
Market Conditions
NOI Build-Up for 3,700 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
$170.9K $46.20/SF
− Vacancy
−$6.5K −$1.76/SF
EGI
$164.4K $44.44/SF
− OpEx
−$74.0K −$20.00/SF
NOI
$90.4K $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%
$1,808,880
Cap Rate 7%
$1,292,057
Cap Rate 9%
$1,004,933
Alternative Uses
Best Use
Apartment 5plus
$1.29M
$1.13M – $1.51M
NOI $90,444 @ 7.0% cap · market cap 7.07%
Second Best
Retail
$943.5K
$825.6K – $1.10M
NOI $66,045 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$2.73M
$2.39M – $3.18M
NOI $190,938 @ 7.0% cap · market cap 14.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,475
Businesses Nearby
Explore this area
Business Placement
Demographics for 11356, NY
28,310
Population
9,003
Households
3.1
Avg Household Size
37
Median Age
25%
College-Educated
78%
High-School Grad
1.6 sq mi
ZIP Area
17,694
Density / Sq Mi
$91,445
Median Household Income
$40,928
Median Earnings
$2,160
Median Rent
$893,100
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 - Vacant commercial and residential configuration with two apartments and multiple ground-floor spaces.
Where is this mixed-use property located?
The property is located at 901 College Point Boulevard College Point, NY.
What is the asking price?
The asking price for this property is $1,280,000.
What are key features of this property?
This property features: Approximately 2,500‑square‑foot corner lot; Two ground‑floor commercial spaces; Rear office area with additional storage
