Mixed-Use Building with
For Sale
$1,888,000
9049 Springfield Boulevard, Queens Village, NY 11428
Restaurant and grocery tenants occupy the ground floor, with separate-entry office space upstairs.
Property Size3,960 SF
Price / SF$476.77
Days on Market122
Property Features for 9049 Springfield Boulevard
General Information
Standard status
Active
Size
3,960 SF
Property subtype
Commercial
Zoning
R2
Additional Details
Gross Income
$81,600
Office Units
1
Tenant in Place
Yes
Property Use
Office
Taxes and HOA fees
Annual Taxes
$20,731
Amenities
conference room
kitchen area
full bathroom
Building Details
Building Size
3,960 SF
Year Built
1996
Buildings
1
Stories
3
Units
3
Tenancy
Multi
Listing Agency:
Floral Homes Inc
(718) 343-4200
Listed By:
Raj N. Mirchandani
Source:
Croninreale
Added: Jun 25
Changed: Oct 23
Last Checked: Oct 23 at 4:05PM
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 Floral Homes Inc
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Investment Insights
Based on property information with market context.
This 3,960-square-foot mixed-use building, constructed in 1996, combines restaurant and grocery space on the first floor with a separate-entry office suite on the second. The restaurant occupies approximately 1,200 square feet, and the grocery store uses approximately 1,000 square feet. The upper-level office area is approximately 1,100 square feet and includes seven to eight rooms, a full bathroom, a conference room, and a kitchen area.
The restaurant and grocery spaces are occupied by tenants, while the second-floor office space is currently vacant. The property is zoned R2 and is located at 9049 Springfield Boulevard in Queens Village, New York.
The restaurant and grocery spaces are occupied by tenants, while the second-floor office space is currently vacant. The property is zoned R2 and is located at 9049 Springfield Boulevard in Queens Village, New York.
Key Highlights
- 3,960‑square‑foot mixed‑use building, built in 1996
- Restaurant occupies approximately 1,200 square feet on the ground floor
- Grocery store occupies approximately 1,000 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,686
Cap Rate
3.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,413,720
$1.4M
Cap Rate 7%
$1,009,800
$1.0M
Cap Rate 9%
$785,400
$785.4K
Market Conditions
NOI Build-Up for 3,960 SF
Gross rent
$118.8K $30.00/SF
− Vacancy
−$17.8K −$4.50/SF
EGI
$101.0K $25.50/SF
− OpEx
−$30.3K −$7.65/SF
NOI
$70.7K $17.85/SF
Area
Queens County, NY
Vacancy
15.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,413,720
Cap Rate 7%
$1,009,800
Cap Rate 9%
$785,400
Alternative Uses
Best Use
Specialty Retail
$2.62M
$2.29M – $3.05M
NOI $183,279 @ 7.0% cap · market cap 9.71%
Second Best
Retail
$1.01M
$883.6K – $1.18M
NOI $70,686 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$2.92M
$2.55M – $3.41M
NOI $204,355 @ 7.0% cap · market cap 10.82%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,198
Businesses Nearby
117k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 65%
Shops & Services 21%
Groceries 14%
McDonald's
Dining
36,416 visits/mo
0.3 miles
Wendy's
Dining
29,672 visits/mo
0.3 miles
Key Food
Groceries
16,273 visits/mo
0.3 miles
Dunkin' Donuts
Dining
10,612 visits/mo
0.4 miles
AutoZone
Shops & Services
9,741 visits/mo
0.4 miles
Demographics for 11428, NY
19,516
Population
6,335
Households
3.1
Avg Household Size
42
Median Age
28%
College-Educated
81%
High-School Grad
0.8 sq mi
ZIP Area
24,395
Density / Sq Mi
$84,977
Median Household Income
$42,146
Median Earnings
$1,827
Median Rent
$666,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Restaurant and grocery tenants occupy the ground floor, with separate-entry office space upstairs.
Where is this mixed-use property located?
The property is located at 9049 Springfield Boulevard Queens Village, NY.
What is the asking price?
The asking price for this property is $1,888,000.
What are key features of this property?
This property features: 3,960‑square‑foot mixed‑use building, built in 1996; Restaurant occupies approximately 1,200 square feet on the ground floor; Grocery store occupies approximately 1,000 square feet
